From the "Stat Bank." Children and Money

When parents and kids interact there is seldom any meaningful discussion about money.  There may be discussions about an allowance with a young child, but as children get older there is a reticence about financial discussions with children.  Which may be the reason for the following three statistics from the current tissue of the Journal of Financial Planning.

  • 14{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} – percentage of parents surveyed who discourage their kids from talking about money.
  • 21{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} – percentage of kids who believe the most likely way to obtain $1 million is to invest in stocks and bonds.
  • 24{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} – percentage of kids who believe the most likely way to obtain $1 million is to become famous.

That’s just sad.

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