A while ago, a good old friend of mine told me his parents hadn’t saved much for their retirement. I was shocked to hear that, because having grown up around his family, they were always a very responsible, loving and well organized.
My sense is my friend’s situation may be farely typical. Many parents don’t bother to actively discuss financial issues with their children. This is really a shame. Sometimes if adults don’t make a concerned effort to teach their children good financial habits, then children may learn the hard way after leaving the home or, whats worse, they could model their parents bad behaviors.
So, if you’ve got children, you might consider reading the latest story from Newsweek. Its a discussion of five basic financial concepts to teach your kids. Its an interesting and quick read, so feel free to check it out.
Best,
James
