Helping the Next Generation Build Financial Confidence

The holidays often bring families together, and with that comes a chance to share a bit of financial wisdom with the next generation. These conversations do not have to be formal or feel like a lecture; but sharing with adult children or grandchildren can be invaluable to them.

Many young adults today are facing complex financial decisions—balancing student loans, high living costs, and big milestones like buying a home or starting a family. Sharing your own experiences, both successes and mistakes, can help them feel less alone and more equipped to plan ahead. Also, if you plan to help with expenses like college, weddings or down payments, it is a good opportunity to get on the same page about these goals.

If you are not sure where to start, consider asking a simple question: “What has been the hardest part about managing money lately?” or “Do you feel on track with your goals?” These gentle openings can lead to meaningful conversations without feeling intrusive.

We encourage families to start having these conversations and support those that already are. We frequently meet with clients’ adult children to cover budgeting, saving, and investing basics. Whether they are just beginning their careers or starting to think about long-term goals, we have tools that can help. Helping the next generation build financial confidence strengthens your family’s overall plan and ensures that the habits and values you have built continue to grow through the next generation.

- Kyle McCune, CFP®, Reify Wealth Advisors

This article was included in the Reify Wealth Advisors Quarterly Newsletter.