I was reading an article that got me thinking. What do my kids need to learn? What have I already taught them that is important? What do I need to reinforce? I came up with a list of five things—that seem like they should be no-brainers—that more and more kids do not know. We need to teach our kids important life lessons as early as we can. What are my five? Learn more in this episode of Best in Wealth.In this episode of Best in Wealth, I share 5 life lessons our kids need to learn. #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement Click To Tweet
Outline of This Episode
- [2:55] Lesson #1: You have to work hard
- [4:37] Lesson #2: Math is important
- [6:54] Lesson #3: Life skills cannot be neglected
- [8:17] Lesson #4: Focus on your health
- [9:44] Lesson #5: Build relationships
Lesson #1: You have to work hard
We need to teach our kids the importance of work ethic. There are no freebies in life. The most accomplished people are the hardest workers. You have to work hard to get what you want. All of my daughters love Taylor Swift. She would never be at the top of the music industry without a lot of hard work and dedication. I believe that God built us to work. We feel our most accomplished when we work. And when we retire, we still need to work, it will just be different.
Lesson #2: Math is important
Bad math is what gets most adults in trouble. My middle daughter wants to go to college out-of-state. In my opinion, she needs a good quality in-state tuition education. If you borrow $100,000 for a degree that will earn you $30,000 a year, you do not understand basic numbers.
When it comes to real-world math, it does not take much to learn. Spending $6 every day on a latte at your favorite coffee shop adds up. That is over $2,000 a year. That is a couple of car payments or money toward student loans. You could start a Roth IRA with that money.Math is important. Bad math is what gets most adults in trouble. So what do our kids need to learn? I share some thoughts in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #WealthManagement Click To Tweet
Lesson #3: Life skills can’t be neglected
Kids cannot spend all of their time on social media or playing video games. They need to learn important life skills. They should be able to do their own laundry. They need to learn how to cook (so they do not have to go out to eat for every meal). They need to learn how to clean, mow the lawn, etc. The list can be long but these things are important.
Lesson #4: Health is more important than wealth
Obesity, diabetes, and heart failure are rising among kids. My local schools are moving beyond teaching the basics of sports. They are teaching kids high-intensity exercise that they can do for the rest of their lives. When you are young, you heal quickly. As you get older, an injury might take weeks to heal. Kids need to learn that preventative measures are important. They should see their doctor, dentist, etc. regularly to prevent future problems. Because you cannot enjoy life without your health.
Lesson #5: Build relationships
We need to teach our kids to build great relationships and be great friends. I still have a group of friends that I have known since 6th grade. They know me inside and out. We laugh hard and we fight hard. We are not afraid to face hard topics.
I do not see enough friendships like this in our world. Relationships actually help us live longer, too. Surround yourself with people as you get older and you will live longer.
Are any of these life lessons on your list? What would you add? Let me know!We need to teach our kids to build great relationships and be great friends. Why is it so important? Learn more in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #WealthManagement Click To Tweet
Connect With Scott Wellens
- Schedule a discovery call with Scott
- Send a message to Scott
- Visit Fortress Planning Group
- Connect with Scott on LinkedIn
- Follow Scott on Twitter
- Fortress Planning Group on Facebook
Audio Production and Show notes by
PODCAST FAST TRACK
The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the Securities Act of Wisconsin in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.