During our conversations, you, like any proud parent or grandparent, tell me about your family. For many of you, I am lucky enough to already know your children because they’re clients of mine, and I have my own relationship with each one of them.
One of the many concerns for every successful parent or grandparent is to make sure your children are good with money—that they make good decisions with their own money. Eventually, with experience, they will be good stewards of what may be inherited from you.
Yes, it’s a scary thought considering it was just yesterday you were teaching them how to ride a bike. But handling money isn’t like riding a bike. You don’t always remember how to do it, because managing money is a perishable skill. The world is filled with temptations, disasters, and greed that are constantly trying to separate you from it. Never mind the time it takes to do it well.
Your children never stop needing your help. Why then would you wait until it’s too late to introduce them to Your Survival Guy? Talking to me is not the same as talking to you. Sorry. You may have been preaching to them about Dick Young’s investing philosophy every night at dinner, but it may not have sunk in like you hoped. They had friends to meet up with, Dad.
Instead, why not have them meet the guy who’s been doing for you what you want them to do for themselves? Put them on the right money-making track and they’ll never forget you. I promise you that.
Action Line: In my conversations with them, we don’t talk about you. We talk about how they will reach their retirement goals. If they get help down the road, by then they’ve learned how to be good stewards of their money, well before you’re gone. When they want to talk, have them email me at ejsmith@yoursurvivalguy.com.
Read more here: Your Survival Guy to Parents: “Enough is Enough”
