Brooklynn Chandler Willy on Setting Your Children Up for Financial Stability

Having a stable financial situation is very important for most people. It can help them manage their expenses and ensure they have enough money to support their retirement.

Unfortunately, many people do not consider how they would be able to survive if their jobs were to change. This can lead to financial instability for their children.

The benefits of having children outweigh the costs. However, if you are planning on starting a family soon, you might be wondering how you can safeguard your kid’s financial future. Fortunately, there are many ways to start setting your children up for financial stability.

Having an Irrevocable Trust

An irrevocable trust can be a great financial tool that allows you to pass your assets to your children. However, if your kids are small, you might not want to leave them with any possessions after you die. With a trust, you can ensure that these assets will go to your kids when they are ready.

Invest Early-On

Investing early can help you avoid investing in risky assets that may not provide long-term returns. It can also give you more time to correct any mistakes that you might make. It would be best if you considered investing in a higher-risk asset class. You can do this by combining investments such as bonds and stocks.

Educating Your Child

Teaching your kids about money can help them understand the importance of managing their finances. By talking about money with them, they will know how it works and how important it is to save for something they want. This will also teach them about financial responsibility.

By teaching them these skills, they will be able to carry them into adulthood and make better decisions in life. Having a solid financial education can also help them avoid making mistakes.

Strategy Maintenance

A well-defined plan can help you manage your expenses. Having a well-defined plan can also help you avoid making mistakes. A comprehensive financial strategy is one of the most critical factors you should consider when planning for your child’s education.

Pay Off Debt

Getting married and having children may be difficult if you are already in debt. One way to avoid this is to pay off your credit card bills, mortgages, and auto loans as soon as possible. One of the most effective ways to pay off your debts is through debt consolidation. This process involves consolidating all of your debts into a single account.

ABOUT BROOKLYNN CHANDLER WILLY

Brooklynn Chandler Willy’s career in financial services developed following the sudden and untimely death of her father. In life, he had been a life insurance salesman who – ironically – had no life insurance himself. She saw how difficult it can be – emotionally and financially – to lose a loved one without being prepared; she decided to dedicate her career to helping others put better plans in place and be prepared so as not to be faced with a similar situation.

At Texas Financial Advisory, Brooklynn Chandler Willy and the entire team understand and appreciate how hard their clients work and the nest eggs that they’ve saved throughout their lives. The team will work with each client as a fiduciary and help take the uncertainty and stress out of retirement planning to create holistic plans that extend beyond the numbers. To learn more about if Texas Financial Advisory is right for you, please visit their website.

Alongside her job as the Host of the “Texas Financial Advisory Show,” Brooklynn Chandler Willy hosts the “Texas Financial Advisory Show,” airing weekends on WOAI 1200 AM and KTSA 550 AM. Through her show, Brooklynn shares the knowledge, insight, and expertise that she’s accumulated across her career. Listeners tune in to hear examples of how a retirement income plan can help reduce income taxes, provide a legacy for heirs, and assure a steady income through the rest of life.