Raising Money$mart Kids: Saving for Retirement: Do It Early and Do It Often

Welcome to Raising Money$mart Kids!

What do YOUR kids know about the value of a buck? If you're like most families, finances aren't often discussed. Some parents feel that talking about money makes their kids feel like they're poor. Others may not know where or when to start to help their kids learn about budgeting or business or banking.

Here at Raising Money$mart Kids, you will find articles on everything from setting up an allowance to running a lemonade stand to helping kids make better purchase decisions. You can ask questions get help from the community.

So, grab a cup of coffee and pull up a chair!

Monday, November 8, 2010

Saving for Retirement: Do It Early and Do It Often

Saving for retirement can seem daunting when you have no idea where you are starting from and where you are headed. The old adage to save early and save often definitely applies to retirement savings. Beginning your savings plan when you are in your twenties allows you to weather many financial and economic storms and can grow quickly to allow you to have the comfortable and fun retirement you are hoping for.
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Why It's Important to Start Saving for Retirement as Early as Possible

You have heard the standard retirement investing advice before: start saving early and save often. It is advice that I have given my clients over the years when they are first starting out on their own. I have had the opportunity to see how many of those clients who took my advice fared over the past fifteen years, especially during the recent recession. Having a large and growing retirement savings plan allowed them to remain calm when markets tanked, knowing that they could ride out the storm and that their funds still had lots of time to recover and flourish before they needed the money in retirement.

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Piggy Banks to Paychecks

“It doesn’t matter how old your children are or how difficult your financial situation is. It doesn’t matter where you start to teach your kids about money. It doesn’t matter what kind of allowance system you choose to set up with your kids. It only matters that you get started- right now, with the tools you have to work with and the knowledge you already have.”Piggy Banks to Paychecks tackles the subject of money head-on in an easy-to-understand, friendly format. If you are a parent,grandparent, teacher, or otherwise involved in helping kids learn financial basics, this book is for you. In its pages, you’ll find straightforward answers on saving, wise spending, investing, and donating. You will find help in setting up an allowance plan for kids and various methods of tracking savingsand evaluating purchases. You will learn the language of money and be able to set your children on the path to fiscal responsibility – the greatest gift you can give them.