As a boomer, I’ve done a terrible job of helping my children learn one particularly useful life skill, that of managing their financial lives. (Insert here all the self-recrimination about giving them everything I didn’t have, and being the financial safety net in case they get in trouble.)
Today’s twenty-somethings are ten years behind the previous generation due to multiple recessions, the collapse of the housing bubble, and exorbitant college tuition. It’s tough, but opportunity is still there for financial success.
While there is freedom on both ends of the economic spectrum, I prefer that my children have a choice about which end they select. So I’ve written them this letter and some advice on 11 things I’ve learned about managing money. You can download it here.
Dear Children;
I never learned about managing money from my parents, and I don’t expect you to pay much attention at this point. But for what it’s worth, there are a few simple lessons that might help you live a comfortable financial life. This is not a “How To Guide,” but rather a guide to some fundamentals. There are lots of resources you can look to for tips on the former. Since you get what you pay for, and this is free advice, take what you want. It’s your choice. The first thing I have to say is that you are responsible for your own financial success. The second is that, while a lot of these lessons seem like clichés, the reason most clichés are still with us is they hold an element of truth.
Here are a few things to think about.
Your Papa
PS: Please comment here after your download.
Do Great Things!
Lee Stocking
Prairie Sky Group
Making Sales Cry With Qualified Leads
lee.stocking@gmail.com
651-357-0110 (cell24x7)
As a financial advisor, I find this piece to be a “must read”, especially for people just starting their investment lives. We work with folks who have assets, or have the power to accumulate assets. If you don’t follow the wisdom in this guide I will probably never get to work with you! Give this to every college senior you know.