Lesson 7

Break the news about taxes

In order to ensure a successful financial future, it is imperative to help your kids understand taxes. As a financial advisor, I often observe how even my adult clients forget to account for taxes in their own planning. During this discussion, you’ll teach your child what taxes are as well as the different types of taxes they will pay in adulthood.

1) READ THE CHAPTER

For information and a deeper dive into having money talks with your kids. Read the chapter with relevant financial literature to give you a sufficient foundation on the topic. Order your copy of the book below.

2) LISTEN TO THE PODCAST

Listen to this lesson’s episode where I’ll walk you through the questions to ask your kids during the conversation as well as the likely responses you’ll hear from them.

3) SEND THE TIKTOK

Send this video to your child, so you can set the stage for the topic you’ll be discussing, in a language they understand.

4) HAVE THE MONEY CONVERSATION

Using your printed one-page conversation guide and enjoy the dialogue with your family to get them financially launched. Now’s the time to discuss and start the conversation.