Schedule Your Goals Conversation®
Client Login

Are You Raising Money-Smart, Entrepreneurial Children? These Best Practices Can Help

Investment advisory services are provided by Pacific Capital Wealth Advisors, Inc. (doing business as Pacific Capital), an SEC registered investment adviser. The firm only transacts business in states and jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.

For additional information about our fees, services, and disclosures, please refer to our Form ADV Part 2A, which is available upon request or online at www.adviserinfo.sec.gov.

Discussing money openly with children can prepare them for financial independence. Chad Willardson advises parents to help kids learn by setting up accounts, paying them for extra work, encouraging side hustles, and teaching money management methods like the 50/30/20 rule. Involving kids in planning and showing them real-world financial responsibilities fosters lifelong skills. By modeling a transparent approach, parents can help their children become confident, responsible financial thinkers.

Read the full article here for detailed insights.