Introduce Your Advisor to Your Adult Children
It may be sometimes difficult to recognize our children who are done with college, out working, and living on their own as adults. It might be a first instinct to seek to help young adults by cooking, cleaning, shopping, and even paying bills for them. But, for our children to truly mature and learn, they need to learn to do things for themselves (I know it is hard - my 3 daughters are getting to that stage). We parents can help them by introducing them to a financial advisor.
A financial advisor might help to provide structure and discipline, accountability, and systematize savings and investment toward the future. Whether setting up a payroll deducted retirement plan contribution or a systematic investment into an account, getting started early is helpful. As financial advisors we often hear from investors that the one thing they wished they did was start investing when they were younger.
A newly minted professional may have financial questions and concerns that differ from yours. They might want to discuss some matters privately with an advisor. They may have viewpoints that are not the same as yours, because their perspectives are different, as likely are their goals and objectives. They might desire some education about financial matters. A financial advisor might help.
Providing your financial advisor’s business card to your son or daughter can help them get established and on their way, charting their financial course (Perhaps you can even tape it to the top of the laundry basket….). In all seriousness, helping to connect your adult children to a financial professional may be a great step toward their bright future.
The opinions are solely those of the author. Seek advice from a qualified professional before taking any action in regard to your finances.
Todd A. Slingerland, CFP®
6 Tower Place Albany, NY 12203
(518) 867-4000 x105 [email protected]