A bunch of 529 plan questions answered, a peek into my next book, and a transparent conversation about how to balance life as a parent. Grab some coffee, and come join the conversation!
The Ultimate 529 College Savings Guide:
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📒 I wrote a kids book and it’s available on Amazon! Get your copy of Investing for Kids: 65 Activities about Saving, Growing, and Investing Your Money:
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Investing for Your Kids: A Coffee + Money Talk
As parents, we often prioritize our children’s needs above everything else. From their education to their health, we want to give them the best start in life. However, there is one aspect of parenting that sometimes gets overlooked – investing for their future. This article will delve into the importance of investing for your kids, discussing strategies, opportunities, and the best way to achieve that elusive work-life balance.
When it comes to investing for your children, the earlier, the better. Time is a powerful ally in the world of investing, and starting early allows you to take advantage of compounding growth. By investing a small amount regularly when your children are young, you can watch their nest egg grow into a significant amount by the time they reach adulthood.
But where should you invest the money? The first consideration should be education. A college education is becoming increasingly expensive, so setting up a college fund should be a top priority. Options like 529 plans or education savings accounts offer tax advantages and cater specifically to education-related expenses.
Once the education fund is established, you can consider other investment vehicles, such as stocks, bonds, or even real estate. It’s essential to seek expert advice when venturing into these realms, as they come with their own risks and rewards. Diversification is key – spreading your investments across multiple assets and sectors helps minimize risk and maximize potential returns.
While investing for your kids is crucial, it’s equally essential to maintain a healthy work-life balance as a parent. Raising children and managing a career is a juggling act. Taking a moment to enjoy a cup of coffee and discuss money matters can be a productive way to find that balance.
Parents often struggle with feelings of guilt and exhaustion, trying to give their all to both work and family. However, finding the right balance is not only beneficial for your well-being but also for your children’s development. By modeling a healthy lifestyle and prioritizing self-care, you teach your children the importance of maintaining a balanced and fulfilling life.
Furthermore, financial stability plays a crucial role in achieving a healthy work-life balance. By investing for your children’s future, you alleviate some of the financial pressures that can strain your equilibrium. Knowing that you are securing their future allows you to relax and focus on the present.
In conclusion, investing for your kids is a crucial aspect of parenting that shouldn’t be overlooked. Starting early, diversifying your investments, and seeking expert advice are all key to securing their financial future. Balancing work and parenthood can be challenging, but by taking time for coffee + money talks and prioritizing self-care, you can achieve lasting equilibrium. Remember, a well-prepared future for your children starts with a balanced present.
Adult finance
I vote the toddler book! Expecting mom here and already excited for my child to get old enough to start your current book! My opinion, children are not educated on money management or even general money principles. There is a need here.
I had the same question about 529 plans – that’s great perspective. I have some set up for my kiddos but it’s tough figuring out where it falls amidst financial priorities. Also yes for personal care reset time- it’s so necessary.
You and Nikole @HealthNutNutrition remind me of each other!!
Hey Justine, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you?
It's crazy to me that you aren't already at 100k, Justine! You bring so much value with your content and it's fun to watch. I hope you reach 100k this year!
I agree with your perspective in house. I too am waiting for houses prices to calm down to reality. Oddly enough i have enough downpayment to automatically have 40-50% equity even on this market. But why overpay?
It took my family and I alot of paciense to save, we're not doing greedy sellers any favors. Besides I love this high interest as is yielding us great boost. We're also waiting.
I would prefer an adult financial book. I think that would be more suitable to your audience. Not everyone has children or would choose to by a money book for their children. Lots of "financial influencers" are publishing books these days, and you have definitely put in the work & are successful with money. No offense on that title, as some people get offended when put in the finfluencer category!
Thank you for sharing! Cheers
Oooh, I love your idea of a board book for kids! Maybe you could even make it interactive with windows that they could open or money attached to a ribbon where they can choose which category (i.e. fun, food or future) that they want to “spend” it and they learn about the opportunity cost of money
Did I miss the Beers and Budgeting in May?