HCR Wealth Advisors Offers Interesting Tips to Teach Children About Managing Finances

Throughout its thirty-year history, HCR Wealth Advisors has strived to deliver exceptional service to its clients. The registered investment advisory and wealth management firm offers personalized and tailored financial strategies to help their clients meet their financial goals. The company aims to prevent their clients from making financial mistakes that can cost them dearly. Even though they offer the advice to their clients, the professionals at HCR Wealth Advisors believe that people should also know about their investments so that they can make the right decisions for their portfolio.

When it comes to finances, children today should be aware of ways to manage them properly as it will help them in their adult life. Often parents feel that there is no need for children to know how to handle their money since they are dealing with small change, but any education about money now will help them shape their future. Financial professionals at HCR Wealth Advisors share some great tips that will allow parents to teach their kids about financial responsibility. One of the great ways to teach them about money is by giving them money for doing chores. They should know that money does not come for free and that they have to earn it. Give them allowance for doing chores around the house so that they know that by working hard they can make more.

Once the children start getting an allowance, they should know how to create a budget. You can ask them to create an expense list where they can understand what things they would like to buy with their allowance and if they can afford it. Budgeting skills will be useful to them later in life. You can also open an account for your child where they can save the money that they earn. Get them a debit card so that they know how to use it early in life. You should also impart some investment knowledge to them. You can easily purchase one share for them and allow them to see it while you buy it. HCR Wealth Advisors believes that when children are taught about financial education from their childhood, they become better at managing their money once they are older.

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HCR Wealth Provides Advice on Raising a Child’s Financial IQ

Parents invest a lot in their children’s education. Doing so certainly is a good thing, but is the education truly broad-based? Does the learning process include teaching children about the basics of finance, investing, and savings? Managing finances and putting away money for the future are definitely good habits to have. Parents really should teach their children about important skills, such as financial responsibility.

HCR Wealth Advisors wants to assist parents with their children’s financial education. While the firm’s focus is to provide investment advice and financial planning to its clients, the firm took the time to publish an educational article on the subject of raising a child’s financial IQ. Insights in the article can help parents improve their child’s knowledge about money matters.

One beneficial strategy to employ involves combining payment for chores with a budget plan. The idea behind this strategy isn’t too difficult to comprehend. Rather than just receiving “unearned income,” the youngsters would be paid based on performing specific chores. This way, children learn the value of work at a very early age. The more work they put in, the more they earn. A strong work ethic can be developed this way.

No one should expect weekly income to be unlimited. This is true whether discussing a child’s allowance or the income of a high-earning adult. Teaching a child to work within a budget sets the stage for showing the value of the long-term savings. Who knows? The child may grow up to become financially successful and meet with an HCR Wealth representative as an adult.

Parents could easily teach a child about savings and investing right now. Opening up a savings account with them or purchasing bonds in his or her name shows exactly how money management works. Once the young one sees the way money grows thanks to compounding interest, the true value of savings may be learned.

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HCR Wealth Advisors Helping People with Their Finances

People these days are having a tough time meeting the increasing living expenses, starting from tuition fees of children to groceries and from utilities to taxes. It is primarily because the people these days are living longer, and the retirement planning of the old people is failing. Middle-aged people not only have to look after their parents but also raise their children and at the same time, save for their future. It is becoming difficult for middle-aged people to keep a financial balance. However, with the help of experts, it is very much possible.

HCR Wealth is a registered investment advisory firm that helps people with their retirement as well as financial planning in a comprehensive manner. The amount of investment options available these days can be confusing to everyday people, but with the help of financial guidance, it becomes much easier to invest wisely for long-term wealth creation. HCR Wealth Advisors has years of experience in providing financial advice. The financial planning offered by experts at @HCRwealth is customized as per the financial situations and expectations of the clients.

Understanding market volatility can be difficult for the layman as many factors need to be considered when investing or making any financial decisions. HCR Wealth Advisors says that there are certain principles about long-term wealth creation and investment that people should follow. One of the first tips given by the experts at HCR Wealth Advisors is that people should ensure that they invest on a regular basis, even if the amount is small. Any amount is a good amount as long as it promises returns and is put away to mature. One of the tips given by HCR Wealth Advisors is to make retirement planning a top priority. When retirement planning becomes a financial priority, it becomes easier to secure financial future and achieve long-term wealth creation goals.

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Retirement Savings by David Giertz

Retirement Savings

Many individuals retire without acquiring the fundamental knowledge, skills and experience of the entire process. People with well-paying jobs, also, find it hard to save. Retirement entails a period, that people spend more money than they earn. Employees should, therefore, save enough money to use during this period.

Saving money in a personal account is one way of managing the retirement finances. However, workers should focus on other savings methods, such as investment. Mr. David Giertz argues that smart investment decisions depend on two major factors. These elements include, the investment project and the method of investment.

Using a brokerage account, to complement the savings account, enables employees to achieve financial stability. This promotes access to bond markets, currencies and stocks, where investors can buy and sell goods at a profit.

According to David, aging leads to multiple health problems. Retired couples also tend to use a lot of money in their projects. David Giertz approximated the amount to be around $275,000 per year. It is, therefore, crucial for every employee to understand the importance of saving.

About David Giertz

With over 30 years of experience in investment banking, David Giertz is the President of Nationwide Financial Distributors. In 2004, David led the institution’s banks channel. During his five-year reign, the business expanded from $1.5B to $8B.

David Giertz is a well-educated professional, who has sat and passed 4 examinations. He obtained an MBA from the University of Miami. He also acquired his BS from the University of Milikin. He has been working at the Nationwide Life Insurance firm since 3rd April 2013.

David has taken part in a number of community organizations, including a Board of Trustees. During his 9 -year tenure, he chaired the finance and budget committee. David joined Nationwide in 1999 and acted as a regional vice president. The Revenue increased by 48% in the Southeast territory, 7 states, during his leadership.