The 6 G’s of Money I Wish I Had Known When I Was Growing Up

In many families, money is like a big elephant in the room that no one discusses but is always present. And as children grow up, they have different experiences with it, shaped by their parents, siblings, friends and media. This leads to unique attitudes and beliefs about money that haven’t been explored and grounded by education.

Jean Dunn, CFP®, an insights leader at T. Rowe Price and researcher of how family dynamics influence Americans’ savings and investing habits, was fortunate to recognize and address the shortcomings of this experience in her own life as she began her career in financial services. Now she is committed to helping others tackle it — ideally at a much younger age — by providing families a framework for financial literacy.

Jean recently shared this framework — The 6 G’s of Money I Wish I Had Known When I Was Growing Up — as part of Hightower Advisors’ Well-thy Conversations webcast series. It includes six key lessons to share with young people, including:

• The link between passion and financial success: helping young adults connect their interests to opportunities that will arise throughout their lives
• Identifying your own tendencies around money: better understanding how your brain is inherently wired in terms of financial habits so that you can shift toward becoming more intentional with your choices
• Recognizing that the cost of everything is likely to keep rising: factoring inflation into the choices you make as a saver and investor

As part of these lessons, Dunn provides real-world examples to help bring the concepts to life and engage the entire family — parents and grandparents seeking to help their children, and younger generations embarking on their own financial journeys.

To listen to the webcast and learn all six of “the G’s,” click here. And for more resources to help your family enjoy and steward well-th, reach out to your financial advisor.