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Why HCR Advisors Talks to Their Clients About Educating Their Children on Financial Matters

HCR Wealth Advisors is a registered investment advisory firm that was established in Los Angeles, California in 1988. For the past 30 years they have been providing investment advice to its clients and helping them manage their financial assets. As part of their services, the firm establishes relationships through education, including helping their clients increase the financial intelligence of their children. Some people are reluctant to talk about financial matters with their kids because they feel their children either aren’t capable of understanding these issues or they will be bored by it.

At HCR Wealth Advisors, the firm thinks this is a mistake and that age-appropriate talks about financial issues are conversations that parents should be having with their kids. The experts at the firm feel that kids should receive money for completing chores, for instance, so that they understand everyone has to work to have money. Parents should also teach children to create a budget, including savings, and how to stick to it.

Everyone has major events happen in their lives like divorce, retirement, getting married, having children, and the like. HCR Wealth Advisors helps their clients through these events as well as helps them navigate the global financial market’s uncertainties. The firm develops personalized strategies to help clients reach their financial goals while mitigating risk. This includes meeting with clients in order to create personalized financial strategies as part of their ongoing services.

All children should have a savings account so that they learn how the banking system works. HCR Wealth Advisors advises that kids should also keep a debit card attached to this account to understand the basics of banking. This also teaches children to keep their money in a secure place rather than left around where it can be misplaced or stolen from them. Parents should also teach children how investing works and why it is critical to building real wealth.

HCR Wealth Advisors recognizes that many people are worried they will live longer than their savings. When working with a client they take their entire financial picture into account in order to develop a sound plan to help them reach their financial goals. This plan is designed to be understandable to the client and also achievable.

Helpful tips from HCR Wealth Advisors on raising financially-free children:

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