Money

The top money advice Guy Kawasaki gives his 24-year-old son

Guy Kawasaki speaks at the Macworld 2010 conference.
Bloomberg/Getty Images
Guy Kawasaki speaks at the Macworld 2010 conference.

Silicon Valley venture capitalist, author and speaker Guy Kawasaki is known for giving great advice for company leaders, entrepreneurs and anyone interested in innovation.

In an interview with CNBC Make It at the New York Synergy Global Forum, Kawasaki also shared the financial advice he gives his children.

"When my 24-year-old started his job at Salesforce," Kawasaki says, "I told him, 'Go to the max on every matching contribution, 401(k), employee stock purchase plan. Just max all those out.'"

The advice is simple — you can't spend what you don't see.

"If you never see it in your paycheck, you'll never miss it," he recalls telling his son. "And 20 years later, you'll wake up and say 'My God, thank you Dad for telling me to do this go this cause it's now worth millions of dollars.'"

Most financial experts would agree with Kawasaki's advice.

Self-made millionaire and bestselling author David Bach says that the "one, proven, easy way to get rich," is to save money. Bach says most people fail to recognize the opportunities they have to build wealth, such as setting aside money for themselves in a savings account or contributing to their company's retirement plan.

If you're not sure how to get started on saving money for retirement, personal finance coaches outline steps you should take immediately. And according to Kawasaki, the benefits of contributing to your company's retirement plan and accessing any stock options will help you much more than you think.

"Max out all the savings," he emphasizes.

Check out The lesson Guy Kawasaki says every young person should unlearn after college