As parents part of our job is to teach our kids how to be successful in life the best we can. This often includes having discussions about important issues and there may be nothing more important than the subject of money and finance. This can often be difficult since many us weren’t given much information by our parents. Furthermore, some of us learned very little about it in high school or college. Is it any wonder that the subject often isn’t discussed?
We all want our kids to be better off than we were and to avoid the mistakes many of us made. Start by asking them, “what’s important to you about money”? Listen and understand their answers. It will generally be something like, “money provides a sense of well-being, security, and provides a sense of prestige. We live in a world where we are bombarded with images telling us who to be, who to be with, and how to spend our money. Ask your kids if there are any images they’ve become attached to, and why. The answers may surprise you. Then share with them your own experience and some of the things you’ve learned. Remember, this should be a discussion not a lecture.
Explain that people are not defined by how much money they have. However, lacking money is something to should consider avoiding. If you find they are receptive you can direct them to our website at www.eaglewestgroup.com where there is a financial education system under the “Financial Resources“ tab. There they will find a series of educational videos to take full advantage of.
We are aware of the challenges young people face in today’s world and reaffirm our commitment to being a resource they can use with confidence and effectiveness.
Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Elevate and Eagle West are not affiliated with Cambridge.
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