Radio Show #16: The Gap in Financial Literacy
In this week’s show, Chris and Scott share personal anecdotes, including Chris’s experience teaching his children about investing, and the importance of starting financial education early. They also explore the generational differences in retirement planning and savings habits, and provide actionable insights into creating a robust financial plan. Tune in to learn about the Rule of 72, the 4% rule, and strategies for managing your investments, taxes, healthcare, and legacy planning.
Despite the abundance of financial information available today, many people still struggle to understand basic financial concepts. This lack of understanding can lead to poor financial decisions, which can have long-term consequences. It’s one of the primary reasons the majority of people entering retirement don’t have a plan at all.
Here’s some of what we discuss in this episode:
- A lot of clients struggle to communicate with their kids about financial literacy.
- Why the younger generations are in a great position if they can begin investing early.
- More than half of Americans surveyed feel they’re behind on retirement planning.
- Is there a set target amount of wealth for retirement?
- The five key areas of a solid financial plan.
- The different rules of thumb in financial planning and whether they’re effective.
Book a 15-minute discovery call with the team here: https://calendly.com/ask-bulmanwealth or ask questions via email at ask@bulmanwealth.com.
