college

If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage.

In a recent survey by JumpStart Coalition for Financial Literacy, only 26 percent of those between the ages of 13-21 said that they had been taught how to manage money. Yet, when they turn 18, kids are signing contracts for student loans, opening credit card accounts, and in many instances, living away from home with little financial guidance available.

A dear friend of ours relayed a story about his young granddaughter that I just had to share. Our friend is a successful business man who, due to his financial acumen, retired early and now has more time in his schedule to devote to this young child. Through his desire to make each day with her special they have naturally forged a strong bond of love and many opportunities to create fun memories. Now, this precious young girl has a real penchant for ice cream and whenever she hears the melodic tunes of the truck she runs to her beloved grandpa for money –