{"id":594,"date":"2018-10-08T00:00:00","date_gmt":"2018-10-08T00:00:00","guid":{"rendered":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/"},"modified":"2018-10-08T00:00:00","modified_gmt":"2018-10-08T00:00:00","slug":"teaching-your-kids-about-retirement-planning","status":"publish","type":"post","link":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/","title":{"rendered":"Teaching Your Kids About Retirement Planning"},"content":{"rendered":"

As parents, there is never a shortage of things you want to teach your children. Whether imparting wisdom or demonstrating a practical skill, parents have a big responsibility to instruct their sons and daughters. One thing that\u2019s easy to neglect is retirement planning; after all, you probably don\u2019t want to teach your toddler about the merits of an IRA, yet if you wait until he or she is fully grown, it may be too late.<\/p>\n

But there is a middle ground here: You can impart some basic retirement planning skills to your kids when they are high school- or college-age. By sowing the right seeds, you can help them develop into some smarter financial decisions later in life.<\/p>\n

As for what parents should teach their young adult children about retirement planning, we have a few suggestions.<\/p>\n

What to Teach Your Kids About Retirement Planning<\/h2>\n

Tell them how important it is to start saving early. <\/strong>Encourage your son or daughter to start saving for retirement as soon as they get their first job. Yes, this can be tough: Their salary may be low, and they may have a lot of bills to contend with. But even small savings can help. The important thing is forming healthy financial habits early in life.<\/p>\n

Encourage increased savings. <\/strong>Ideally, retirement savings will be about 10 to 15 percent of total income. Again, that may not be possible for someone who\u2019s 22 years old, but you can at least urge your child to gradually increase their savings amount over time, as their salary grows.<\/p>\n

Show them the basics. <\/strong>Your son or daughter may have little idea how a retirement savings plan even works. You don\u2019t have to go through all of the nut and bolts, but at least explain some basic concepts. For example, make sure your child knows what target-date funds are and how they are used. You might even ask your financial planner to sit down and help you explain these concepts.<\/p>\n

Encourage them to consider company matches. <\/strong>In many cases, it\u2019s wise to use company-sponsored retirement savings plans, especially if the company matches contributions. To not take advantage of this is like leaving money on the table. Make this point to your son or daughter.<\/p>\n

Instruct your child on how to make a budget. <\/strong>Retirement planning isn\u2019t just about the future; it\u2019s also about showing some fiscal discipline now! Make sure you teach your offspring how to create a solid household budget\u2014one that enables them to set goals, put money aside, and avoid debt.<\/p>\n

These are all invaluable life skills that your child may not be exposed to anywhere else\u2014so it\u2019s up to you to be proactive in teaching them!<\/p>\n

To learn more about what you can do to encourage your children in their retirement planning, feel free to reach out to one of our planners. Contact Stonepath Wealth Management at your next convenience.<\/p>\n","protected":false},"excerpt":{"rendered":"

As parents, there is never a shortage of things you want to teach your children. Whether imparting wisdom or demonstrating a practical skill, parents have a big responsibility to instruct their sons and daughters. One thing that\u2019s easy to neglect is retirement planning; after all, you probably don\u2019t want to teach your toddler about the […]<\/p>\n","protected":false},"author":2,"featured_media":595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","footnotes":"","compliance_id":"","post_disclaimer":""},"categories":[10,14],"tags":[41,77,75,11,15,30,86,92],"acf":[],"yoast_head":"\nTeaching Kids About Retirement - Stonepath<\/title>\n<meta name=\"description\" content=\"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Teaching Kids About Retirement - Stonepath\" \/>\n<meta property=\"og:description\" content=\"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Stonepath Wealth Management\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/stonepathwealth\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-08T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1281\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"oechsli\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"oechsli\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\"},\"author\":{\"name\":\"oechsli\",\"@id\":\"https:\/\/www.stonepathwm.com\/#\/schema\/person\/10d64c54b683c573745885c202679726\"},\"headline\":\"Teaching Your Kids About Retirement Planning\",\"datePublished\":\"2018-10-08T00:00:00+00:00\",\"dateModified\":\"2018-10-08T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\"},\"wordCount\":494,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.stonepathwm.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg\",\"keywords\":[\"budgeting\",\"financial planner\",\"financial planning\",\"planning\",\"retirement\",\"retirement planning\",\"savings\",\"Stonepath Wealth Management\"],\"articleSection\":[\"Financial Planning\",\"Retirement\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\",\"url\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\",\"name\":\"Teaching Kids About Retirement - Stonepath\",\"isPartOf\":{\"@id\":\"https:\/\/www.stonepathwm.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg\",\"datePublished\":\"2018-10-08T00:00:00+00:00\",\"dateModified\":\"2018-10-08T00:00:00+00:00\",\"description\":\"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage\",\"url\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg\",\"contentUrl\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg\",\"width\":1920,\"height\":1281,\"caption\":\"family walking in park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.stonepathwm.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Teaching Your Kids About Retirement Planning\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.stonepathwm.com\/#website\",\"url\":\"https:\/\/www.stonepathwm.com\/\",\"name\":\"Stonepath Wealth Management\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.stonepathwm.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.stonepathwm.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.stonepathwm.com\/#organization\",\"name\":\"Stonepath Wealth Management\",\"url\":\"https:\/\/www.stonepathwm.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stonepathwm.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/08\/Stonepath-Wealth-Management-logo-vrt.png\",\"contentUrl\":\"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/08\/Stonepath-Wealth-Management-logo-vrt.png\",\"width\":900,\"height\":695,\"caption\":\"Stonepath Wealth Management\"},\"image\":{\"@id\":\"https:\/\/www.stonepathwm.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/stonepathwealth\",\"https:\/\/www.linkedin.com\/company\/3753685\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.stonepathwm.com\/#\/schema\/person\/10d64c54b683c573745885c202679726\",\"name\":\"oechsli\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stonepathwm.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fc8b6e7f10126ac0b23181bf9f09e635?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fc8b6e7f10126ac0b23181bf9f09e635?s=96&d=mm&r=g\",\"caption\":\"oechsli\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Teaching Kids About Retirement - Stonepath","description":"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/","og_locale":"en_US","og_type":"article","og_title":"Teaching Kids About Retirement - Stonepath","og_description":"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.","og_url":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/","og_site_name":"Stonepath Wealth Management","article_publisher":"https:\/\/www.facebook.com\/stonepathwealth","article_published_time":"2018-10-08T00:00:00+00:00","og_image":[{"width":1920,"height":1281,"url":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg","type":"image\/jpeg"}],"author":"oechsli","twitter_card":"summary_large_image","twitter_misc":{"Written by":"oechsli","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#article","isPartOf":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/"},"author":{"name":"oechsli","@id":"https:\/\/www.stonepathwm.com\/#\/schema\/person\/10d64c54b683c573745885c202679726"},"headline":"Teaching Your Kids About Retirement Planning","datePublished":"2018-10-08T00:00:00+00:00","dateModified":"2018-10-08T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/"},"wordCount":494,"commentCount":0,"publisher":{"@id":"https:\/\/www.stonepathwm.com\/#organization"},"image":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg","keywords":["budgeting","financial planner","financial planning","planning","retirement","retirement planning","savings","Stonepath Wealth Management"],"articleSection":["Financial Planning","Retirement"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/","url":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/","name":"Teaching Kids About Retirement - Stonepath","isPartOf":{"@id":"https:\/\/www.stonepathwm.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage"},"image":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg","datePublished":"2018-10-08T00:00:00+00:00","dateModified":"2018-10-08T00:00:00+00:00","description":"What can parents do to instruct their kids on sound retirement planning? Get insights from Stonepath Wealth Management.","breadcrumb":{"@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#primaryimage","url":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg","contentUrl":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/09\/woman-3602245_1920.jpg","width":1920,"height":1281,"caption":"family walking in park"},{"@type":"BreadcrumbList","@id":"https:\/\/www.stonepathwm.com\/teaching-your-kids-about-retirement-planning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.stonepathwm.com\/"},{"@type":"ListItem","position":2,"name":"Teaching Your Kids About Retirement Planning"}]},{"@type":"WebSite","@id":"https:\/\/www.stonepathwm.com\/#website","url":"https:\/\/www.stonepathwm.com\/","name":"Stonepath Wealth Management","description":"","publisher":{"@id":"https:\/\/www.stonepathwm.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.stonepathwm.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.stonepathwm.com\/#organization","name":"Stonepath Wealth Management","url":"https:\/\/www.stonepathwm.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stonepathwm.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/08\/Stonepath-Wealth-Management-logo-vrt.png","contentUrl":"https:\/\/www.stonepathwm.com\/wp-content\/uploads\/2020\/08\/Stonepath-Wealth-Management-logo-vrt.png","width":900,"height":695,"caption":"Stonepath Wealth Management"},"image":{"@id":"https:\/\/www.stonepathwm.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/stonepathwealth","https:\/\/www.linkedin.com\/company\/3753685\/"]},{"@type":"Person","@id":"https:\/\/www.stonepathwm.com\/#\/schema\/person\/10d64c54b683c573745885c202679726","name":"oechsli","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stonepathwm.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/fc8b6e7f10126ac0b23181bf9f09e635?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fc8b6e7f10126ac0b23181bf9f09e635?s=96&d=mm&r=g","caption":"oechsli"}}]}},"_links":{"self":[{"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/posts\/594"}],"collection":[{"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/comments?post=594"}],"version-history":[{"count":0,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/posts\/594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/media\/595"}],"wp:attachment":[{"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/media?parent=594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/categories?post=594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stonepathwm.com\/wp-json\/wp\/v2\/tags?post=594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}