Guiding Generations: Planting Seeds to Help Your Children Blossom

Jill Ciccarelli Rapps  |  éBella Magazine  |  May 2016

Each of us work hard to improve our life in various ways – to be happy, satisfied, and to have a meaningful impact on those around us. That last point is worth a closer look.  It’s impossible to overstate just how important it is that we do our part to guide future generations to ensure that they not only have the ability to be happy, but that they actually have a world worth living in.

Securing The Future
The future can be scary because of the unknowns, and for that reason, it’s easy for many to simply ignore it outright. But preparing future generations with our guidance is a must!

For many, taking an active part in this is a calling. Teachers, for example, have a huge influence on future generations and as such their actions will directly impact the future in ways that many can’t even begin to appreciate. But for those who aren’t working as teachers or leaders in youth-oriented organizations, what can you do? The answer is to focus on those who are within your “circle” – the ones who will carry your legacy forward.

Tips to Help You Guide Future Generations
So how do you go about planting seeds that will pay off for future generations?

• To begin with, you need to take steps to help protect your children or grandchildren and to make it easier for them to move through their lives. This means that for most, one of the first steps worth taking is to help solidify your finances with the future generations in mind. Setting up the right accounts and determining how you want wealth distributed is a must. Understand your children’s capabilities and prepare their legacy to enhance who they are.  As an example, if they are spenders, perhaps their legacy should be stretched out during their lifetime so it can secure a wonderful livelihood for their lifetime.

• With that set up, there’s something else to consider – do future generations in your family understand the importance of managing finances properly and will they be able to make the most of what you do for them? Spending time discussing this subject with young people is something that’s worth doing and that could bring tremendous rewards with it – for them as well as for your own peace of mind. It is never too early to start; give the gift of a piggy bank as your child or grandchild is born and teach them how to pay themselves first!   Start their first educational savings account when they are born.   Teach them the power of compounding.  As soon as they have a job, let them know you will match what they put into a Roth IRA up to a certain limit.  There are so many ideas, these are just a few.

• Looking beyond money for a moment, have you done your best to help prepare your children or grandchildren for other challenges that life can throw at them? Money is only a small piece of the puzzle for most of us and mastering other aspects of life is important too. Teach your children the power of a positive mental attitude, how they can mold and shape their brain to accomplish their most important goals.  If you are not sure how to do this, look for courses in your community that can help.

• Talk and communicate openly with your loved ones and with any younger person who is looking for guidance or advice. Your own life experiences can directly help those who come after you, and as such, it’s worth starting up a line of dialogue that remains open throughout your life.   Have family meetings that are designed to share values and your most important lessons.  There are so many wonderful gifts that come from family communication.  Seek out who in your community can help you to design and facilitate your family gatherings.

Taking The Right Approach
Helping young people see the way that their actions influence the world is important.  It begins with making sure that they have a clear idea as to how their actions will influence their lives and their future.

We can help you and your heirs understand more about finances and the future. Contact Ciccarelli Advisory Services, Inc. to find out more about what we can do for you and to help yourself rest easier at night.