Monday, May. 02, 2011
Encourage Them to Develop Their Own Support Team
Even Warren Buffett solicits advice from trusted partners before making most big investment decisions. Your adult children have you, of course, but as they function more independently they need more sophisticated and personalized guidance. Encourage them to identify friends, relatives, parents of friends, college professors, professional advisers and perhaps a contact in their company's human resources department to help them sort through their unique issues and choices. "It's up to every young adult to build their own posse," says Kathy Griffin, founder of MoneyU, a financial education website used at many colleges. You don't have all the answers anymore.