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Millennial Parents Face Economic Hardships

Young Invincibles report the plight of Millennial parents

I just finished reading a report from Young Invincibles describing the financial hardship facing Millennial parents.  The economic tsunami of lower income coupled with the higher costs of raising a child and being saddled by student debt is taking a toll on this generation of future leaders.  My heart goes out to this group as they attempt […]

How do I convince my millennial child that saving is important?

The only way to convince someone to do anything is to set a good example.  Monkey see, monkey do.  Start sharing your financial plan with your kids.  Quotes like, “I sure wish I would have started when I was your age,“ set the stage. Ask your millennial questions like: “Have you started investing?” “What can […]

Financial Education with Munny Journey

What’s the easiest thing to do to start saving for retirement?

When looking for work one of the most important questions is, “Does the company have a retirement plan?”  The surest way to build a retirement nest egg is through monthly deduction from your paycheck.  Pre-tax contributions invested in a 401(k) are the best.  Many companies offer a matching contribution.  This automatic wealth building system has […]

Financial Education for Kids

Why do people hesitate to save for retirement?

Are you a grasshopper or an ant?  Or are you a product of your environment?  Grasshoppers raise grasshoppers and ants raise ants.  If you were born into a family of spenders it’s pretty hard to become a saver.  It’s not part of your DNA.  Your mental model is to spend. Investing for retirement is foreign […]