Step 1: Tell her to manage her investments on her own.
Step 2: Teach her how to accomplish step 1 when she asks
Step 3: Suspend the topic of your finances if she doesnt ask or appears dis-interested. She may not be ready or could care less. Revisit in the future.
Step 4: If she is ready, give her some time to take on the new independence. Check in and see if she would like to talk about it (no figures, just strategy/implementation). You will know if she is ready if she can have an intelligent dialog without $ numbers.
Step 5: If all looks good start pulling back the curtains. Talk your goals/desires first. Then strategy. Then types of accounts. Then dollar figures. Postpone the dialog if you see signs of thoughts going sideways.
See if she is interested in books. The first financial book I ever read (listened to) was The Psychology of Money. It was the single best kick start to the journey above that got me to be more intelligent about my ability to talk about money with my parents. The rest is history as I know as much about their finances as they do, with their full confidence.
Step 2: Teach her how to accomplish step 1 when she asks
Step 3: Suspend the topic of your finances if she doesnt ask or appears dis-interested. She may not be ready or could care less. Revisit in the future.
Step 4: If she is ready, give her some time to take on the new independence. Check in and see if she would like to talk about it (no figures, just strategy/implementation). You will know if she is ready if she can have an intelligent dialog without $ numbers.
Step 5: If all looks good start pulling back the curtains. Talk your goals/desires first. Then strategy. Then types of accounts. Then dollar figures. Postpone the dialog if you see signs of thoughts going sideways.
See if she is interested in books. The first financial book I ever read (listened to) was The Psychology of Money. It was the single best kick start to the journey above that got me to be more intelligent about my ability to talk about money with my parents. The rest is history as I know as much about their finances as they do, with their full confidence.
Statistics: Posted by StayTheCourse60 — Thu Dec 28, 2023 1:52 am — Replies 171 — Views 18277