As a parent it is normal to want the best for your kids. You work hard and try to give them the finest that life has to offer. When it comes to ensuring the security of their financial future, it is easy for a parent to be left wondering what approach to take. You already contribute to your child’s Roth IRA, building small pockets of wealth for their future when possible. You have even started looking into creating extra passive income with rental properties or flipping distressed properties.
Investing and padding the nest egg for your child’s future is certainly a nice gesture. It is unfortunate that none of these actions will ensure that their financial state will continue to remain solid long after you are gone. On the contrary, doing all this work for your child may have the opposite effect. Children who have everything handed to them in life tend to not understand how to do things for themselves. This is why it is important to educate your kids in the intricacies of how to earn and save money. Such insights will ultimately prepare them with the skills they need, ensuring that they will have a solid financial future. [Read more…] about Is Your Child’s Financial Future Secure?