Being Financially Savvy is A Family Business
Like it or not, we’re all involved in running the “family business.”
We worry that our parents might outlive their retirement savings. We’re comforted by the thought that family members would probably bail us out if we got into money trouble. We strive to help our children financially, and we’d like to bequeath them at least part of our nest egg.
In short, our family is our asset, liability, and legacy.
Now here’s the contention: It’s time to build this notion into the way we manage our money.
Here are just some of the reasons why:
Raising Children
If your children grow up to be financial deadbeats, you may likely rise to the rescue. Indeed, your children could turn out to be your greatest financial liability.