Episode 44: Teach Your Children - Pay Thyself First!Episode 44: Teach Your Children - Pay Thyself First!
Financial Sobriety
We're getting toward the end of summer and your h…
37:46•10 Aug 2021
Teaching Kids About Money: Pay Yourself First!
“The automated nature of how it just comes out of the top and it's pre-taxed, because that's one of the foundational ways for people of our time and our generation to learn how to save.”
Ever wondered how to set your kids up for financial success from the get-go? In this engaging episode of 'Financial Sobriety', hosts Matthew Grishman and Jim Gebhardt tackle the essential topic of teaching children about money. They dive into the concept of 'paying yourself first' and the benefits of automating savings, making it easy for young earners to build wealth over time.
Matthew and Jim share practical advice on 401k plans, pre-tax savings, and the importance of starting these habits early. They emphasize that wealth building is a marathon, not a sprint, and the key is diligence and consistency. This episode is packed with valuable insights that can help you guide your children toward a secure financial future.
Whether you're a parent wanting to instill good financial habits in your kids or someone just starting out in their career, this conversation offers actionable steps to achieve long-term financial health. Tune in to discover how to make saving and investing a natural part of life for the next generation.
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