Help your adult kids master finances without just writing checks! In this episode, Kim Butler shares valuable insights on coaching your children aged 18+ on money matters, from saving and insurance to smart investments. Essential advice for parents wanting to raise financially savvy adults.
Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity.
Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers' thinking and strategies today!
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Links and Resources from this Episode
Show Notes
- Importance of discipline from a young age
- Strategy for engaging with adult children about finances
- First paycheck as a teaching moment
- Establishing a long-term relationship for financial conversations
- Apologizing for not discussing finances earlier
- Essential financial concepts: saving, insurance, medical power of attorney
- Specific example on savings: Automating finances
- Importance of medical power of attorney for adult children
- Comprehensive discussion about insurances with adult children
- Understanding interest rates and the actual financial impact
- Clarification on the difference between mathematical averages and actual returns
- Basic steps for young adults to start investing
- Setting up a whole life insurance policy as an investment
- Encouraging young adults to consider homeownership
- Adding an adult child as an authorized user on a credit card
- Teaching patience and financial principles to young adults
Special Listener Gift Free eBook: Activating Your Prosperity Guide.
Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!
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