Some people may think that todays younger generation and their retirement will be difficult.
Today, we have seen the end of most pensions and there is even talk that social security may not even be around when our kids are old enough to retire.
The good news is that todays younger generation and their retirement are more aware that they will need to be responsible for their own retirement.
That means that with a little planning and discipline not only can they be prepared themselves, they won’t be susceptible to the nasty surprises many of the baby boomers have faced such as a loss in pensions and dwindling social security benefits.
Our kids will know that they have to be proactive and an active participant in their own retirement.
If they take that responsibility seriously, they won’t have to worry about their financial future.
It will also make them more likely to be more responsible with their money all during their lives.
In our parents and grandparents generations having debt was unheard of except possibly for a house and maybe a car.
Today, we have gotten away from that dislike of debt. Today, many in our society are routinely over spending and depending on credit just to handle their monthly expenses.
Not only that, but we aren’t saving nearly enough just to help us out of any issues we may encounter.
For many people something as fairly insignificant as a broken appliance can have a devastating impact on their finances.
Hopefully, with our children’s generation, the pendulum will swing back more to the way of our parents and grandparents.
Our kids will be less likely to overspend and expect the government to support them in their old age, and more likely to live within their means and become financially educated.
If you want to help your children get off to a fast financial start, you can start right now by encouraging them to educate themselves financially.
Today, as in most times, there is a great deal of mis information around. Some so called experts will tell you to do things that really aren’t in your best financial interests.
Encouraging your kids to learn basic financial information is one of the best things you can do for them and to help protect them against bad advice.
This information is readily available in books and courses. It is not difficult and a very smart thing to do. And, you and your kids can do it together… you may even learn something too!
Do yourself, and your kids, a favor, don’t let the talking heads and the « experts » scare you or your kids.
It is very possible for your kids to have a great retirement, and a great life for that matter, and you can help them by providing them with an education.
Todays younger generation and their retirement are going to be just fine. They will learn what to do and take control of their present and future financial situation.