Talking about money with your children does not have to be complicated. The best way to accomplish this is to use day-to-day activities and turn them into learning opportunities.

Younger children often do not understand money and its’ value. This is most apparent when you are giving your child coins. For example, if you give your child the choice between a penny, a dime and a nickel they will almost certainly choose the nickel simply because of the larger size. It is highly important to teach your child value at a young age.

It’s Graduation time!

We all recognize the difficult and unprecedented time that we are in and how that is affecting all our graduates. Whether your loved one is graduating high school or college or finishing up their master’s degree, they are somehow being shortchanged in this rite of passage. We see huge window displays and yard signs and drive by parade’s hoping to honor the work and accomplishments our graduates have achieved.

As you approach retirement, you’ll want to think through your retirement income plan. Common retirement income strategies include:

Drawing off the income

After you’ve spent years saving for retirement and building your nest egg, you’ll want to find a balance between a withdrawal rate that gives you assurance that your savings will last, but doesn’t shortchange your standard of living.

During your income-earning years, maximize your retirement plan contributions to build your nest egg and retirement savings:

401(k)

A 401(k) plan is a retirement savings plan sponsored by your employer, which allows you to save and invest part of your paycheck before taxes are taken out. Many employers offer an employer match, usually ranging dollar for dollar anywhere from 2-5% of your salary deferral (depending on the plan). If you elect not to participate, you essentially leave money on the table.

Starting a family is not a life event that should be taken lightly, especially financially. The price tag for a baby born in 2015 is about $233,000+ from birth to age 17. That is NOT including college! So the questions becomes, how can you manage those costs and still prepare for your own future. Here are a few ideas to help manage your money as you raise your family.

Marriage is not just roses, chocolates and diamonds. Marriage is a business relationship that needs thorough discussion and often times compromises. When couples plan for possible scenarios in the future, everyone involved is protected and feels secure. There are several ways that couples can ensure healthy financial decisions pre and post nuptial.

Earlier this month, we discussed dollar-cost averaging as a strategy for investing which can offer you a higher average rate of return over the long-term and a seamless means of investing each month without too much pain for your wallet. Today, we will discuss the best way that you can achieve this strategy through the concept called “Pay Yourself First”.