Launching Financial Grownups – Bobbi Rebell, CFP

If you have children and/or grandchildren, how can you help them be smart about financial decisions? And if you're helping them financially, how do you stay on track with your own financial planning for retirement? Our guest today is Bobbi Rebell, CFP, author of the new book Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart.  We discuss: What gets in the way of young adults achieving financial independence.  How to evolve the relationship with their children as they're becoming adults The Bank of Mom and Dad - and how long it should be open The best times to engage with young adults on this topic How schools can improve education on practical financial literacy What parents and grandparents can learn from 20-somethings and teenagers The key things parents and grandparents can do to help young adults achieve financial independence Bobbi Rebell, CFP joins us from New York. ________________________ Bio Bobbi Rebell is a CERTIFIED FINANCIAL PLANNER™ professional, and host of the critically acclaimed Money Tips for Financial Grownups podcast. She is the author of Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart. The book is a call to action for parents of teenagers and young adults who want the best for their kids, but are beginning to realize their OWN financial independence, and financial separation from their children, has to become a priority as well. Her first book "How to Be a Financial Grownup: Proven Advice from High Achievers on How to Live Your Dreams and Have Financial Freedom” was released in 2016. In 2017, she left her job as a global business news television anchor and personal finance columnist at Thomson Reuters to expand the Financial Grownup brand into other channels of financial education content. Later that year she obtained her CFP® certification. Previously Bobbi had worked at CNBC, CNN and PBS' Nightly Business report. Bobbi is now a frequent keynote speaker, emcee, conference host/moderator, and continues to anchor local news reports on a freelance basis. She is a graduate of the University of Pennsylvania, and received her Certificate in Financial Planning from New York University. Bobbi lives in NYC with her husband, 3 kids and her morkie Waffles. _________________________ For More on Bobbi Rebell, CFP Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart Website ________________________ Podcast Episodes You May Like An Economist’s Take on Retirement Planning – Larry Kotlikoff The Power of Fun – Catherine Price The Key Decisions for Retirement Success – Wade Pfau Are You Living Gratefully? – Kristi Nelson ________________________ Wise Quotes On The Bank of Mom & Dad "...the services in The Bank of Mom and Dad are offering should adjust to the different appropriate life stages. So for example, maybe when they're out of college, you can say: Well, you can live at home for free and we're not gonna charge you for groceries, but we expect you to have an exit strategy and share it with us. And as long as we are effectively paying your rent and all of your food and all of that, we get to see your finances, right? Just like a bank would say: Well, if we're going to lend you money or provide financing, we are entitled to see these things. So no money, unless there's transparency. Rule number one and number two: do things that make sense." On When to Engage on This Topic "The moment it matters to them. That's the key thing. Something might matter to you,