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I'm a wealth advisor at Merrill Lynch. Here are 5 ways I'm setting my kids up for financial success and debt-free college.

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Robert Furst is a wealth advisor at Merrill Lynch with two kids under 10. He shares how he is already safe guarding his children's financial future.
The article from Business Insider discusses advice from wealth advisors on setting children up for financial success by 2025. Key points include teaching children the value of money from a young age through allowances, chores, and savings accounts. Advisors suggest introducing concepts like budgeting, investing, and the importance of credit early on. They emphasize the role of financial literacy education, encouraging entrepreneurial thinking, and the benefits of starting retirement accounts like Roth IRAs for kids who have earned income. Additionally, advisors recommend fostering a mindset of delayed gratification, discussing money openly at home, and using technology and apps designed for kids to manage money. The overarching theme is to prepare children not just to manage money, but to think critically about wealth creation and financial independence.

Read the Full Insider Article at:
[ https://www.businessinsider.com/wealth-advisor-advice-setting-kids-financial-success-2025-3 ]