Episode 38 - Parents who worry about their kids' debt
Description
The podcast episode is about parents who are concerned about their adult children's credit card debt. The host, Reid Trego, is joined by the founder of Goodwin Investment Advisory, Tim Goodwin. They discuss the increase in credit card debt during the pandemic and share statistics on consumer debt. They talk about possible reasons for high credit card debt, such as inflation and using credit cards to cover increased expenses. The hosts also share personal experiences with managing debt and offer advice on how parents can approach their adult children about their financial situation sensitively. They suggest sharing personal stories and providing resources like books or bringing them to meet a financial advisor. The importance of teaching kids about finances is highlighted as well.
If you want help managing and investing your money, or just a second opinion on your retirement plan, one of our CFP® professional wealth advisors would love to discuss your individual goals and options with you. Please reach out by scheduling a free 20 minute intro call with our Goodwin Investment Advisory consultant here.
The Money PIG podcast is hosted by Reid Trego. Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.