This is the second article in a series. The first is titled The Five Biggest Financial Issues for Pre-Retirees.
The years in which you are raising children are among the most important in your life, and financial choices and decisions are no small part. First, you are managing the widest range of financial demands. You may simultaneously be paying off student loans, buying or remodeling a house, assisting other family members, saving for your childrens’ financial needs (like college), and saving for your retirement. In addition, these tend to be the years in which people build their professional reputations. Many parents feel challenged about how to give their children access to the best education possible, whether that means private schools our buying a house in a neighborhood with the best public schools. Finally, an issue that gets very little attention, you are doing this while modeling financial decision making for your children. The example that you set cannot help but shape your childrens’ perspectives and behavior about money. Continue reading