Want to set your kids up for financial success?

In this video, we break down the 4% Rule—a simple retirement strategy that teaches kids how much they need to save for a secure future. Learn how compound interest and investing help grow savings over time. Whether you're a parent or just starting your financial journey, this lesson is a game-changer!

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In this episode of ASK TOM, Tom Henske sits down with fellow dad David Vynerib to tackle some of the most pressing financial questions parents face when teaching their kids about money. From the challenge of passing down financial wisdom to the realities of budgeting in expensive cities like New York, this episode is packed with practical advice for parents and young adults alike.

Tom and David discuss:

• How to effectively teach kids financial responsibility
• The challenge of keeping up with the Joneses in affluent areas
• Budgeting and saving strategies for young adults living in high-cost cities
• The best way to approach saving for the short, medium, and long term
• Roth 401(k) vs. Traditional 401(k): Which is better for young professionals?
• How to start financial conversations with kids—even if it's later than you’d like
• The top three financial lessons every young adult needs to know

If you're a parent wondering how to help your kids build smart money habits, this episode is for you!

Resources Mentioned:

• The power of compound interest and why saving early matters
• Employer 401(k) matches and how young professionals can take advantage of free money
• Real-world examples of how financial choices today impact long-term financial security

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Total Cents for more financial literacy tips for parents and young adults.

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• Email: val@fl4kids.org
• LinkedIn: Val Chapman
• Twitter: @FinLit4Kids
• Website: https://fl4kids.org/
• 2024 SIFMA Foundation Tribute Dinner Video
• California Dept Of Education 2024 Financial Education Task Force
• San Francisco Chronicle - Oakland Elementary School teaches financial literacy
• Oakland, CA 4th and 5th Grade Students Earn Huge Returns in The Stock Market Game
• KRON 4 NEWS Financial Literacy Taught to 4th and 5th-grade students in Oakland, CA
• How The Racial Wealth Gap Has Evolved—And Why It Persists!
• Franklin Elementary Students Compete in Tiger Tank Investor Pitch Competition
• OUSD Highlights Financial Literacy Month by Celebrating Amazing Financial Wizards at Franklin Elementary School
• Oakland, CA Student Enrollment Dashboard
• CA Chronic-Absenteeism Dashboard

Listen to the Total Cents Podcast: Apple:

https://podcasts.apple.com/us/podcast/total-cents/id1628903294

Spotify: https://open.spotify.com/show/7oAMqRvVzCBgnas4OxUP5h?si=f2eeab60be054e9b

FREE Lesson Resources: https://www.totalcents.com/resources/

Read "It Makes Total Cents" by Tom Henske: https://www.amazon.com/Makes-Total-Cents-Conversations-Financial/dp/B0B8BDDW1P/

Let’s Connect: Instagram: https://www.instagram.com/totalcents/ LinkedIn: https://www.linkedin.com/company/total-cents/ X: https://x.com/total_centsFacebook: https://www.facebook.com/totalcents TikTok: https://www.tiktok.com/@totalcents

• Current Location: Charlottesville, VA
• Email: HowardR@darden.virginia.edu
• LinkedIn: https://www.linkedin.com/in/chuck-howard-98310444/
• Bio: https://www.darden.virginia.edu/faculty-research/directory/ray-charles-howard
• Paper: https://ideas.darden.virginia.edu/financial-decision-making

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https://www.ngpf.org/blog/teacher-talk/teacher-talk-with-dr-wally-t-luckeydoo/

Season 2, Episode 16: Bookmaker Tell All: https://podcasts.apple.com/us/podcast/total-cents/id1628903294?i=1000627645920

Season 2, Episode 12: Anonymous 19 Year Old Student Talks About College Sports Gambling: https://podcasts.apple.com/us/podcast/total-cents/id1628903294?i=1000617699041

Show notes for FOLLOW YOUR PASSION

Listen to the Total Cents Podcast: Apple:

https://podcasts.apple.com/us/podcast/total-cents/id1628903294 Spotify: https://open.spotify.com/show/7oAMqRvVzCBgnas4OxUP5h?si=f2eeab60be054e9b

FREE Lesson Resources:https://www.totalcents.com/resources/

Read "It Makes Total Cents" by Tom Henske: https://www.amazon.com/Makes-Total-Cents-Conversations-Financial/dp/B0B8BDDW1P/

Let’s Connect: Instagram: https://www.instagram.com/totalcents/

LinkedIn: https://www.linkedin.com/company/total-cents/

X: https://x.com/total_cents

Facebook: https://www.facebook.com/totalcents

TikTok: https://www.tiktok.com/@totalcents

• Current Location: Dallas, Texas
• Email: vince@financialeducatorscouncil.org
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• financialeducatorscouncil.org