How to help your children save money, and help you in the process!

You generally work hard your whole life, dreaming of the day when you can retire, your kids are off your hands and no longer your (financial) responsibility, and it’s finally time for you to let your hair down and enjoy the fruits of your rewards!

More and more these days, we are seeing Gen X and Gen Y refusing to fly the coop until much later in life.  This is great for them, as it gives them a chance to save (hopefully) enough money to put a deposit on a property, but what about the burden it puts on you, their parents?

Your children can (and will!) potentially eat their way through more of your retirement savings than you have bargained for, and below is a list of tips to help encourage your kids to save.  This is a must-read if you have children of any age as it’s never too late to start!

Click here to read the full article, and please contact JBS if you are interested of any of the strategies mentioned:

1. All initial meetings are at our cost, no matter what your age!
It doesn’t matter how old your child is (or anyone you would like to refer), because the first strategy meeting where we get to know our new prospect, is obligation free, and entirely at our cost. We do this because it gives us a good insight into our prospects, and a chance to get to know them and their goals (both financial and otherwise), prior to providing a strategy. From here, each situation is different and we address them on a case by case basis, but it gives prospects a good idea on what they need to do. There is nothing to lose by trying it!

2. If you are an existing JBS client and your child is under 30, we offer them a financial plan at no cost to them! 
Yes, that’s right, they can come and see us at our cost, and we will tailor a plan for their needs to ensure they are on the right track from an early age.  This can be done in conjunction with you, or independently if they prefer (and we won’t tell you anything!).

3. JBS Risk Seminar – Protect what you are building
Following our successful seminar last year, we are delighted to invite you and your children | friends | colleagues to an exciting event on 19 July, detailing the importance of risk insurance (i.e. Life, Total Permanent Disability, Trauma and Income Protection).  We have inspirational speaker Josh Wood lined up, who was a promising young athlete before a tragic accident left him a quadriplegic.  After being told he will never walk again, you will be amazed at Josh’s journey.  Following Josh, we have an insurance expert to give an overview on the different types of risk insurance, and a run through of some different scenarios facing 25-45 year olds.  We encourage you to come to this event and bring guests who you think will benefit from these topics, or alternatively, please give us a call to discuss your options.  For more information please contact the JBS Practice Manager, Elly.