By J.P. Dahdah, CEO of Vantage
Hard to believe it, but another summer’s come and passed.
Millions of households across the country are either getting their children ready to go back to school or are already waking them up to catch the bus. Supplies, clothes, and schedules are all part of the discussion. And children are being encouraged to embrace a positive attitude towards learning as they approach a new year.
With the pandemic still in flux, positivity and a thirst for learning are more important than ever. And, as parents, you have a unique opportunity to demonstrate the power of life-long learning.
What are you going to focus on learning this month? Or this year?
Financial Literacy Starts at Home
As your children head back to school, they’ll be tackling subjects like math, science, and history. But how much will they be learning about the basics of financial decision-making?
At Vantage, we’re advocates of strong financial literacy. And we believe literacy for children starts in the home. The conversations kids have with their parents during their formative years and the example set by parents in their financial planning shape a child’s mindset and habits.
While it may be tempting to think that children are learning everything they need at school, the truth is they need some supplements, especially in the area of financial literacy.
And there’s no better time to start than now.
Given that our kids are going back to school soon, I encourage you to do the same.
Now is also a great opportunity for you to invest in your financial literacy. Having strong budgets, investment strategies, and spending habits will not only help your children start on the right path. But they’ll also ensure you’re able to make financial investments where they matter—like a child’s college fund.
Here’s the challenge. Pick something you don’t already know about and educate yourself. Embrace the same learning mindset your children have, and dive into a new financial topic. Make sure your financial picture is well taken care of and that you fully understand where your money is going.
What subject will you focus on this year?
Will you learn how to invest in rental properties with your IRA? Maybe you want to learn how to become a private lender with your IRA? Do you know what prohibited transactions are part of your Self-Directed IRA and how to avoid them?
These topics are some of the numerous ones you can focus on to increase your financial literacy. Let the learning begin! Learn more about building wealth by maximizing the benefits of a Self-Directed IRA.
At Vantage, we pride ourselves on being a resource to help increase your financial literacy. Every month, we share a new VBytes episode where we dive deeper into a topic that our clients and prospective clients have asked for more information about. We also offer free monthly workshops on a wide range of investing subjects. And, if you’re looking to learn as part of back-to-school, we hope you’ll take the time to attend one this month.