How did you learn to manage money and understand the value of investing? Did your parents pass on their knowledge about money, or did you figure it out on your own? The harsh reality is that many of us learned wealth preservation strategies through trial and error. An alarming statistic in the US: Only 14 states require a class in personal finance, and only 20 states require a class in economics to graduate from high school.
Chances are, if you’re not teaching your family about money management and investing, they probably won’t learn wealth preservation strategy elsewhere. Financial literacy is one of the top ways for families to maintain wealth and pass it on to future generations. Financial education will preserve the wealth of the current generation and onwards – once you adopt it as part of your family’s legacy.
Strategic Wealth Preservation Across Generations
At Trajan Wealth, we understand that not everyone feels confident in their financial knowledge. That’s why our team is here to help ease the burden. Building a strong foundation in financial literacy is crucial, and it’s never too early to start.
We believe in teaching the value of money from a young age, avoiding the temptation to overspend. And instilling important lessons that can last a lifetime. Whether it’s taking the time to teach finance during trips to the store, or allowing your kid to manage a weekly allowance, taking the time to educate children about money management is an invaluable wealth-preservation strategy that can benefit them for years to come.
Passing Along Wealth Preservation Strategies
How do you start a conversation about making responsible financial decisions with children? Start by asking them what they think investing is and find out what they’d like to learn about money. Teach them concepts and terms related to investing while explaining their importance and helping them understand strategies for preserving wealth. This is actually similar to how we start the discussion with clients after our initial meeting at Trajan Wealth: What do you know about investing? Why is investing important to you? How should we invest so that you can live a more fulfilled life?
Games for Teaching Strategic Wealth Preservation
Introducing your children to financial literacy learning games can also be a creative and effective way to increase their finance education. By using games to teach wealth preservation strategies, you can make the learning process more enjoyable and interactive for them. This approach can help them learn financial concepts in a fun and practical manner, preparing them to handle money and make informed decisions in the future.
Empower Future Generations With Wealth Preservation Strategies
Trajan Wealth believes it is critical to focus on mathematics to give the next generation a solid understanding of wealth preservation – starting with some basic finance education. This can include teaching about bank accounts for spending & saving, brokerage accounts, as well as explaining the numerous reasons for investing. Children should learn that an investment can be anything from buying a house to opening a retirement savings brokerage account.
By teaching our children the basics of money management, we can help them develop a reliable strategy to preserve their wealth, and the wealth of their children & future generations. There is no better strategy for preserving wealth than providing financial literacy through education for this generation and the next.
Craft Your Strategy for Wealth Preservation at Trajan Wealth
The financial advisors at Trajan Wealth are ready to help you establish a reliable wealth preservation strategy to provide for your family’s future. Find one of our financial advisor offices near you and get started today! If you’d rather reach out to our team online, or over the phone, please do so now – or fill out our contact form, and we’ll get right back to you!
