Children

Yes, you will miss the kids when they move out, but you will adjust to your new freedom. And odds are they will come back often, seeking your advice and for companionship.

However, you must insist the kids move out at a certain point or you will harm them, perhaps irreparably. They can’t truly grow up until they are on their own.

You bounce better when you are young. Struggle is a natural part of growing up, moving out and finding your way in the world. There will be scars. That is the natural order of things.

It hurts. Life hurts! You fought through the difficulties when you were young. It is how you got where you are. A bird never learns to fly sitting around in the nest.

When you become a parent, another person’s life is in your hands. It’s scary and exciting all at once, and you only start to feel confident in your new role once you have a few years of experience under your belt. However, there’s one big step you can take now to ease your fears, and that’s handling your financial planning.

Financial planning is about more than funneling money into a retirement account. When you have a family, you need to take steps to provide for your family if you pass away. Without safeguards in place, a single unfortunate event could put your family’s security and well-being at risk. If you want a financially secure future for your children, these are the four things you need to do.

You were probably exposed to Jordan Peterson the same way I was: a viral YouTube video. Prior to Google determining my unknown interest in such a “Gotcha!” moment I was preaching some of the same material as it pertained to financial matters.

Once a taste was received I was primed for more material. Peterson has an addicting style of speaking and teaching. He thinks before speaking—something an unnamed blogger still needs to work on. The amount of material to watch is extensive. There is less reading material, but Peterson’s work is powerful and has the tendency to consume a day in thought.

Peterson is misunderstood, many times intentionally. YouTube thinks I might like other similar topics regarding identity politics and feminist bashing. I don’t. By the time my research expanded to MGTOWs (men going their own way), incels (involuntary celibates) and other narrowly defined groups, I grew more and more disturbed.

From a young age I knew exactly wanted to do. Then I changed my mind.

Such is youth. My dad had different plans for me. My childhood was spent on the family farm and it was an awesome life. My dad owned an agricultural repair business and the plan was in place for me to slide right into the company. There was only one problem: I hated the work.

My children are now adults. One is in China while the youngest just graduated high school. My fondest hope was that at least one of the two would be interested in tax and accounting work. No dice.

Forcing your children into a family business is always a bad idea. The kids might love the work and they should then be welcomed with open arms if they do. But most kids don’t want to follow in their parent’s footsteps. Their dreams are different. Most often they follow their parent’s path because they don’t know where else to turn.

Thursday this week was the due date for calendar year S corporations and partnerships. We are in the heart of tax season and your favorite accountant is feeling the strain. Stress is okay as workflow is moving reasonably well with a few notable exceptions I intend to rectify. The April 17th deadline looms.

My youngest daughter turned 18 on Wednesday and while Mrs. Accountant and I are not yet officially empty nesters the handwriting is on the wall. High school needs to be finished and an adjustment into adulthood is in order before she leaves. The timing is the only thing undecided.

My oldest daughter (I have two girls) stuck around home milking mom and dad for all it was worth. At first the prodding was gentle. As the years passed the cattle prod was more insistent. It’s wasn’t about her behavior either.

The TV blares ad after ad with million dollar budgets to maximize sales with each commercial. The school has one project after another for parents to fund. Your children can’t get away; neither can the you. When parents are financially responsible, advertisers and the school system work on your children to get your money. Even your child’s allowance is at risk. Anything to pry money away from you is acceptable practice. It wears you down. All the work teaching your children good money skills is wasted in the never-ending assault.

And don’t count on teachers helping you or your children either. Your kid’s teacher is broke. Without a guaranteed government pension most teachers would be homeless after retirement. Teachers can’t teach what they either don’t know or refuse to practice. Your kids will never learn money skills in school because the teachers are broke and don’t know how to handle money. Period. The school system is the opposite of responsible spending. The school system constantly looks for additional ways to get your money. Great lessons they are teaching our kids. No wonder people work their entire life and have nothing invested for retirement.