Charles Schwab’s Post

Have you ever asked your parents for outright $$$, not a loan? It can feel terrible, like you're being judged for how you have handled life so far. 💲♟ 𝘽𝙪𝙩 𝙞𝙩 𝙙𝙤𝙚𝙨𝙣'𝙩 𝙝𝙖𝙫𝙚 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙖𝙩 𝙬𝙖𝙮. 💢🍬 We all need a little help with #money from time to time. Here's a #2minuteread. It can help you the next time you're a bit short on cash. Veronica Dagher The Wall Street Journal included my take on the subject and it may surprise you what I said. 𝕊𝕠 𝕛𝕠𝕚𝕟 𝕥𝕙𝕖 𝕔𝕠𝕟𝕧𝕖𝕣𝕤𝕒𝕥𝕚𝕠𝕟, 𝕤𝕙𝕠𝕦𝕝𝕕 𝕒𝕕𝕦𝕝𝕥 𝕔𝕙𝕚𝕝𝕕𝕣𝕖𝕟 𝕒𝕤𝕜 𝕥𝕙𝕖𝕚𝕣 𝕡𝕒𝕣𝕖𝕟𝕥𝕤 𝕗𝕠𝕣 𝕞𝕠𝕟𝕖𝕪, and 𝙄𝙛 𝙮𝙤𝙪 𝙙𝙞𝙙, 𝙝𝙤𝙬 𝙙𝙞𝙙 𝙞𝙩 𝙜𝙤? #parentsmoney #BigAsksMoreQuestions #familymatters #budgetplanning #familydynamics Michael Liersch Arne Boudewyn PhD @ValerieGalinskaya

What I got today is for all the parents out there, especially for their Lil Princesses We all know the story - home loan, bro's education, sis's wedding But why is a son's education a responsibility while a daughter's future is tied to marriage? No hate, but times are changing, right! Here's the thing, your daughter is a superstar in the making! And guess what, the government is here to help you support her dreams with the Sukanya Samriddhi Yojna (SSY) 📌 Here's why SSY is a win-win: 👉 Be a prepared parent. Open an SSY account before your daughter turns 10 and watch your money grow with a super high-interest rate (over 8% right now!) 👉 Fund your future goals. The account matures in 21 years, giving your daughter a lump sum to chase her dreams - college, a house, or maybe that trip around the world! 👉 Tax-Saving Time! Deposits, interest, and withdrawals are all tax-free, making SSY a fantastic way to save some serious money for your princess's future 📌 Quick things to remember: √ Small Steps, Big Impact: You only need Rs. 250 a year to get started. Easy on the wallet! √ Plan Ahead: There are some restrictions on withdrawals after your daughter turns 18, so keep that in mind. SSY is a super way to secure your daughter's future and build a healthy savings habit together. Ditch the stress and invest in a brighter tomorrow for both of you! P.S. Don't forget, consulting a financial advisor can help you tailor this plan to your specific needs. Let's build a future where our daughters can dream big and achieve even bigger! #girlboss #financialplanning #ssyscheme

Does Dave Ramsey’s baby steps actually work? Here they are: 1. Save $1,000 for a baby emergency fund 2. Pay off all consumer debt except for the mortgage 3. Save for a 3-6 month emergency fund 4. Invest 15% of your income 5. Contribute to 529 accounts for children 6. Pay off the mortgage early 7. Build wealth and give The obvious answer is YES But The most important number on the list is #2 if you can pay down consumer debt very quickly it kick starts everything else If you are in no rush to pay off all consumer debt sooner than later then this may not make sense for you After completing #2 is when -investing for retirement -going on vacations -buying a home -building a true emergency fund -investing for children Comes into play But I want to hear from you, what are your thoughts? Have you started the baby steps before?

Are you looking for smart ways to help your adult children with their financial lives? Check out these strategies that can give them a leg up financially. Thank you Lucy Lazarony from Next Avenue for sharing my personal family wealth building tips. 🌟 From funding their Roth IRAs to helping with down payments on homes, there are various ways you can support your adult children's financial goals. 🌟 Additionally, consider offering intra-family loans, adding them as authorized users on your credit card, and giving them financial planning sessions or professional development opportunities. 🌟 By providing these resources and guidance, you can help your adult children build wealth and make informed financial decisions. #FinancialLiteracy #FamilySupport #BuildingWealth https://lnkd.in/eVQqsApH

Receiving a large sum of money can cause problems with friends and family. I was privileged to be asked to comment on this young lady's story today. Unfortunately, I was only given a summary of the story when asked to comment, but the story is interesting. Talking about money is tricky at the best of times. Communicating about money issues effectively and clearly can be even harder. How about having a read of this young lady's story and then chatting it over with a loved one or family member? What would you do? How would you approach it? Could you communicate clearly without irritation? Does gifted money come with "invisible" strings attached? What must be clarified with a financial gift or loan to make it harmonious? What other questions can you think of? Has that helped? I hope so. follow my posts: #fannysnaith #personalfinance #windfall #money

“To lend money is to own an enemy.” I am sure that we’ve all experienced the goodwill of helping friends or family in tough times, only to find ourselves struggling to retrieve that money despite multiple reminders. Let me share here, a story about my colleague. A and B have been friends since school days. One day, B asked A for a loan of one lakh rupees, promising to return it in a month, for meeting his working capital requirement. Without hesitation, A lent him the money, emphasizing the importance of returning it on time to maintain trust. A month passed, and after a week of delays, A called B for repayment. To A’s surprise, B said the money didn’t help him and asked for another lakh, promising to repay both next month. A firmly stated that B’s financial issues weren’t his responsibility. When A visited B’s home to demand repayment, B’s spouse was called in by B, and shamelessly B suggested A take her jewelry instead. A was shocked by this behavior and vowed never to lend money again. Nowadays such incidents are on rise wherein person says all good to get the money from friends only with the intent of not returning. I’m curious to hear from my LinkedIn Network: Have you faced similar situations after lending money? Should we continue helping others, or is it a lesson learned to avoid such risks? Let me know in the comments! #friends #money #lend #help #betray

Father’s Day is a special reminder of the pivotal role dads play in shaping the lives of their children. Being a father isn’t just about providing; it’s about inspiring, guiding, and supporting the dreams of the next generation. As dads, we strive to give our best in every area of life, knowing that our actions set the foundation for our children’s futures. One of the most significant ways we can secure that future is by achieving financial freedom. Mortgages are more than just home loans; they’re the cornerstone of stability and security for our families. When we take steps toward financial freedom, we not only build a better life for ourselves but also set an example for our children to follow. This Father’s Day, I’m motivated more than ever to help families take those crucial steps towards financial independence. Because when we succeed in our financial goals, we create a lasting impact that benefits our children and their future. Wishing all the dads out there a Happy Father’s Day! Here’s to building strong foundations for our families, one mortgage at a time. #FathersDay #FinancialFreedom #FamilyFirst #MortgageBroker #BuildingStrongFoundations #Parenting #DadsMatter #FinancialIndependence #FamilyGoals #HomeLoans

April 25th is National Teach Children to Save Day! Of all the financial lessons we can impart to our children, saving is important. It's a lesson that can start early with a good old-fashioned piggy bank and conversations with your kids. If you're not sure how to talk to your kids about money, here are a few starting points: ⭐️ Discuss Wants vs. Needs ⭐️ Let Them Earn Their Own Money ⭐️ Set Savings Goals ⭐️ Provide a Place to Save ⭐️ Have Them Track Spending Member FDIC | Equal Housing Lender

🚀💥 From Zero to Hero in the Real Estate Saga: The Inspiring Journey at 40+ 🏠🎉 Meet Michael. At 42, the dream of homeownership seemed a distant mirage, with a credit score that echoed the mistakes of his younger years. Juggling debts, Michael's hope was dwindled by rejection letters from lenders. But a heart-to-heart with an old friend sparked a glimmer of ambition. 🌟 Fast-forward to perseverance and discipline: Michael enlisted in a financial literacy course, swapped out impulsive spending for a stringent budget, and tackled his debts head-on, one payment at a time. The pivotal moment? The day the "PAID" stamp hit his final credit card balance. 🎯💳 Enter Jane, 47, single mom and glass ceiling breaker, who believed owning a slice of earth was a closed chapter due to her poor credit history. A serendipuritous workshop on real estate investments turned that page. With renewed vigor, Jane decoded credit reports, uncovered errors, and advocated for corrections. She ventured into side hustles to ramp up her savings. 🚀👩👧 Both Michael and Jane's dedication flourished: emergency funds grew, credit scores soared, and residential doors unlocked. The once far-fetched dream was now their reality. Their ethos? "Better credit isn't just about loans; it's about a legacy." Today, they stand as proud homeowners, their financial futures rewritten, advocating for financial literacy in their communities. Their stories aren't fairy tales; they are testaments to the transformational power of financial literacy and resilience. 🌱💸 If they can, so can you. Begin your odyssey towards homeownership regardless of your age or past financial hurdles. It's never too late to change your stars and secure your legacy. 🌟🔑 #HomeOwnership #FinancialLiteracy #CreditRepair #LegacyBuilding #RealEstateInvesting #FinancialFreedom #Empowerment #SuccessStories #LifeGoals #NeverTooLate #LinkedInSuccess