Written by: George Shirley - Any opinions are those of George Shirley and not necessarily those of Raymond James or RJFS
In the past month, I have spoken to a number of college-aged children/grandchildren of current clients about investing. As discussed here http://www.stewardpartners.com/preserving-wealth-legacy-educating-kids/ ensuring your children and grandchildren have access to sound financial guidance is a critical part of protecting your legacy. While they all asked some good questions about personal finance and investing, I told each of them that regardless of what they might invest in, I believe the most important aspect of investing for the younger generation is to get in the habit of investing, and doing it regularly—even in very modest amounts.
Much like eating balanced diet and exercising can lead to better health, investing regularly can lead to better long-term financial security. And the sooner children get exposed to concepts of budgeting, retirement planning and compounded interest, the more likely they will be on the right path entering into adulthood. And it can be fun.
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