As many financial advisers will tell you, one of the problematic issues is that when kids inherit large sums of money when they are young - they may not have the financial expertise to manage their inheritance.
* The articles are listed on my website (www.attorneybarbaradalvano.weebly.com) under Archive topics such as:
- family finances
- family support
- incentive trusts
- inheritance
- legacy planning
My articles point out some of the hazards when beneficiaries do not have the experience to manage their financial inheritance.
Specific articles are “Family Talks and Bad Habits”; “Changing Behavior” and “Our Future Millionaires”.
So, just how can young people obtain the financial expertise that is necessary to handle finances?
My researcher read a Squared Away blog and tracked down additional interesting information about just this topic…how younger people can gain financial ‘know-how’.
One solution comes from the PBS Digital Studio in the form of short videos on topics such as: How Do You Buy a Home? and How To Ask for a Raise (June 27, 2108) among other topics.
The videos **are created by the team of Julia Lorenz-Olson and Philip Olson of “Two Cents”.
The videos deal in a simple format with topics that every young person should know when handling their own finances.
Good financial ‘habits’ develop over time and are not taught in the classroom. When young people gain experience about their own finances, good “money” habits can last a lifetime.
** You can follow the link: www.pbs.org/show/two-cents to access the videos.
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