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Money Advice Every Parent Should Give Their Children

Forbes – Jonathan I. Shenkman

One of the more common scenarios I encounter in my practice is sitting down with a seemingly highly successful young married couple who are struggling to reach basic financial milestones. They have a hard time maintaining an emergency fund, coming up with a down payment for a home, saving for their child’s college education, and participating in their employer’s 401(k) plan. At first glance, one wouldn’t expect these folks to be struggling financially. Many of these HENRY (High Earner Not Rich Yet) couples are earning over half a million dollars a year between both spouses and have great jobs with tremendous upside potential.

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