PRIOR PLANNING PAYS™

Part 1 of 5: Childhood & Teens

Planning for retirement is a lifelong process.  Be on the lookout for your age for steps you should be taking right now.

Your Childhood

• For 5 to 8 Year Olds: Start with an allowance.  Monthly is better than weekly so they can learn a bit about planning ahead.
• For 9 to 12 Year Olds:  Ideal time for kids to start earning money to supplement their allowance.
• Teach kids to comparison shop.
• Teach them to wait for sales and specials on items like clothes and electronics – whether they’re spending your money or theirs.

Your Teens

• Critical time for kids to learn money management skills.
• During high school years, you should become progressively more versed in keeping a job, budgeting what’s earned, learning to do’s and don’ts of spending and overspending.
• Teens should have a checking account and/or a debit card, but absolutely not a credit card.

Copyright 2017, Campbell & Company, CPAs, PA

Investment Advisory Services offered through Retirement Wealth Advisors, (RWA) a Registered Investment Advisor. Campbell & Company and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.

Information is general in nature and is intended as a guideline.  Consult with your financial advisor to to customize and monitor your financial plan.