Pay Off Student Loans Or Save For Retirement? 11 Ways To Balance Your Financial Goals

It’s never too early to begin discussing the concept of money and personal finances with your children. In fact, some financial experts suggest these conversations should begin during elementary school.

For parents who missed that boat (and you’re not alone if that’s you), all is not lost. It’s even more critical to sit your child down and talk about effective personal finance management as he or she is preparing to leave the nest for college, a time in life when they’ll be faced with credit card offers; signing onto student loans, and, in many cases, living on their own for the first time.

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I’ve sat in those rooms, and you have too. You know the ones, where some war-weary veteran of the good old days of financial services talks about how they used to walk uphill both ways in a blizzard to every client meeting.

How the account application was as small as a postcard. How they didn’t even have calculators and surmised rates of return on the back of a napkin.

We are all told that a return to such days would be a good thing for clients and advisors alike and that all of this technology “stuff” is simply ruining a business that at its core is about helping people save for their future, not do calculus.

But those are not the only rooms.

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