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Retirement Wisdom

Retire Smarter

Launching Financial Grownups – Bobbi Rebell, CFP

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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.

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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.

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For More on Bobbi Rebell, CFP

Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart

Website

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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

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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, but if they’re not ready, they’re not going to hear you. A lot of parents want to help and they’ll say: You’re graduating. I’m gonna introduce you to this person and this person. And they send these emails and then the kid doesn’t follow up. Well, it doesn’t matter enough to them yet. So you need to give them the space to get to the point where they’re going to actually benefit from your advice. You have to wait to be asked. And that’s a really hard thing to do because we think we know better. We often do know better, but if they’re not ready for the message, they won’t actually hear us and they won’t act on it. So you have to give them a little space. And unfortunately the way society is right now, they probably need more space than we did.”
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About Retirement Wisdom
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Schedule a call to see if a 1-on-1 program or a small group Designing Your New Life program can give you an edge in your next chapter.

Visit retirementwisdom.com for tools and resources to help you retire smarter.

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About Your Host

Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.

Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy coming this summer.

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Intro and Outro voiceovers by Ross Huguet.