5 most popular social media posts ... so far
Whilst I currently write a new blog each week, I also try to post on social media every day (mostly LinkedIn but also Facebook).
Below are the 5 most popular posts (based on likes and views) as I appreciate not all subscribers currently follow me on social media or may not receive alerts for all my posts.
#1 The amazing numbers behind the UK Child Pension
The numbers behind UK child pensions are amazing.
Your kids can get a bonus ‘£720 pa’ from the government if you save for their pension now.
If you did this for your kids from birth that’s £12,960* ‘free’ by the time they are 18.
Assuming 7%pa investment return, that’s around £300,000 of ‘free’ money for their retirement from age 55.
* assuming current tax benefit is the same as today.
If you haven’t considered this option, then this is definitely worth thinking about for your kids (or your clients' or employees' kids)
Also, why not teach your kids about pensions now? Full blog here
#2 Investing simply
What I like about investing is that once you set up your investment account, the most powerful strategy is actually to just sit back and do nothing. It’s a strategy that so many adults don’t follow as they instead try to do something ‘clever’ but in reality that rarely works out well.
Start 2020 by investing for your kids and show them that to be a Financial Superhero you should just leave your investments alone.
Read the full blog on how to teach your kids about: the Stock Market here
#3 Keeping up with the Jones’
Found this great illustration. It perfectly sums up the notion of "keeping up with the Jones'".
As mentioned in a previous post, one of the money traits I hope kids develop as they grow up is that they have little or no interest in what other people are spending their money on.
Read the full blog on how to teach your kids about: Keeping up the Jones’ here
#4 Delayed gratification and debt
Parents - please DON'T give your kids a loan, e.g. "I'll buy this for you now but you won't get any pocket money for 3 weeks".
Making them wait teaches them to save. We live in a world where so many people are in debt as they want things right now. We need to make sure our kids don't fall into the same trap.
Read the full blog on how to teach your kids about: debt
#5 The power of saving 10%
If your kids save at least 10% of all the money they receive then:
1️⃣ they will go into adulthood with a ready built emergency fund (the virus has shown us how important that is!)
2️⃣ they can use this money to learn that money can make money (the secret recipe for financial security)
3️⃣ it will reduce the need for them to incur debt in the future (reducing potential financial stress)
4️⃣ most importantly, this will become a habit and it’s one of the greatest money habits anyone can form!
Saving 10% might only be a small amount but it soon adds up. It’s also a small enough percentage that it won’t stop kids from buying the things they love to buy.
Read the full blog on how to help your kids for 3 essential money habits here
Thanks for reading!
To see the other topics I've been writing about then please read my summary blog here