Table of Contents
Are children a good financial investment?
This is where your kids are an expense rather than an investment. Consider how much you want to spend in areas that add great value to your family. Even though it may be considered a want in the budget, it’s still a good place to spend money when it has high value emotionally.
How do I give my child financially secure futures?
6 Ways to Financially Secure Your Child’s Future
- Pay Your Debts or Consolidate Your Loans.
- The 529 Plan.
- Invest, Invest, Invest.
- Get a Health Savings Account (HSA)
- Sell Items Your Kids Have Outgrown.
- Teach Your Kids Financial Literacy.
What is a good financial investment for a child?
Stocks represent one of the best investments for kids because they have a long-term orientation and will provide years of fruitful returns for your kids. All of the child investment plans covered above allow you to hold stocks in some form or fashion through individual stocks, exchange-traded funds or mutual funds.
Can I give my kids money for investments?
The U.S. tax code makes it fairly easy to give your children money, stocks or other investments or a piece of the family business.
What are children’s obligations to their parents’ finances?
First, children have an obligation to give life-long honor to their parents, and this honor includes financial provision when necessary. This is backed up by the weight of biblical scholarship.
Why do some parents demand financial help from their elders?
Some parents may demand financial help when they are still capable of providing for themselves. Prayerful, biblically-informed elders can help bring clarity to such complexity. God requires that just as parents provide for their young children, children provide for their old parents.
Should parents provide for their children?
This is backed up by the weight of biblical scholarship. Douglas Milne says “When the children are dependent on the parents, it is right that the parents should provide for the children, but the roles are reversed in later years when the parents become dependent on their children.”