There are some things that make you go “huh”? One of these was an article in Financial Planning magazine on the biggest concerns of affluent women. Here they are, according to he author.
- Healthcare Costs
- Retirement Planning
- Raising Affluent Children
What makes these concerns any different from the concerns of affluent men? In fact, except for the third point, these concerns are no different from those of the general population.
It appears that teaching children “financial know-how” was a major issue for the affluent. In my opinion, teaching children how to handle money should be a major concern for any responsible parent. This is especially true of people who don’t have much money and who, according to surveys, have very little in savings and are probably in debt to the credit card company.
Some Registered Investment Advisors (RIAs) will, for a modest fee, provide individuals and families with advice and guidance on handling family finances. It could be the best investment the non-affluent can make.