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Calling All Parents and Grandparents!

RAISING FINANCIALLY RESPONSIBLE CHILDREN:
An educational seminar

WASHINGTON, D.C — Does money seem to fly out of your kids’ hands seconds after you give it to them? Do you worry whether they have the economic smarts to make it in tomorrow’s world or do you see them living out their twenties in your basement?

You are not alone. Millions of American parents worry about their children’s futures – often with good reason. The real question, however, is what is being done to ensure parents are raising a financially savvy next generation.

RBC Wealth Management and The Ramey Group invites you to attend a learning seminar featuring Neale S. Godfrey, award-winning author and successful entrepreneur.

Join us for a lively and insightful conversation on financial literacy, a critical skill for every generation. Learn how to encourage your children to be financially responsible and plan for their futures. Children learn from example and rely on their loved ones to push them in the right direction. This seminar will prepare you to be the positive example your child is looking for.

SPEAKERS:
Neale S. Godfrey, author and entrepreneur and Shakeel Barkat, American Funds.

DATE:
Thursday, July 18, 2013

TIME:
6:30 p.m. – 8:30 p.m.

LOCATION:
The University Club of Washington DC
1135 16th Street NW
Washington, DC, 20036

DRESS CODE:
Jackets and ties for men

RSVP:
By July 12, 2013 to Ben Tener (ben.tener@rbc.com).

Please note:  Seating is limited and it is recommended to RSVP as soon as possible to guarantee your entry.

CONTACT:
Ben Tener
Email: ben.tener@rbc.com
Phone: (202) 661-9541

The Value of Education

While a four-year traditional university is preferable, it may not be for everyone — other post-high school education is also beneficial. Community colleges, vocational training and even online universities play a valuable role. They offer an alternative higher education and training that is more affordable and convenient.

Read more as featured on Huffington Post.

Parents: Time Is Money

How many times have your heard “Mom, I know I was supposed to sort the recyclables, but I just didn’t have the time?” This is the perfect opportunity to teach your children about the time value. Time, like money, is a finite resource — time has to be budgeted too.

Read more as featured on Huffington Post.

You Can Never Be Too Young

From the time our children are beginning to crawl we start teaching them about right and wrong, personal safety issues and morals. Through the years we warn them about stranger-danger, alcohol and drugs. We try to set good examples for healthy eating and personal accountability. Why do so many parents neglect to teach their children one of the most important survival skills they’re going to need – how to take care of themselves financially?

We certainly teach our kids about spending money, but this is setting them up for future failure. Kids are constantly exposed to the emphasis on buying power but this comes at the expense of other important money skills that kids need to learn – earning, saving and sharing.

Money In Action

Parents have to talk to their kids about money from a very early age as this is when good habits start to form. It’s important for kids to come into contact with money, learn where it comes from and understand how it is used. Encourage your kids to play “store” at home. Let them put coins in the parking meter. Let them swipe the credit card when you get groceries. Bring them to work with you. Bring them to the bank to open a savings account.

I believe in allowances for kids who are ready to start doing age-appropriate things around the house, like watering the plants or setting the table. It is important to use the allowance as a teaching tool. It’s never too soon to start teaching financial responsibility. Even kids as young as 5 can benefit from the idea of budgeting – the child should set some allowance money aside to spend, some to save, some to share with the community.

This helps kids make better decisions and learn to delay gratification. The time spend deciding what to buy with their own money, what to save for and what causes to contribute to also builds character. Another benefit is valuable quality time with mom and dad.

Talk to your kids about money and keep talking to them about it as they grow. The lessons learned will stay with them for life.