This year’s Financial Planning Week, run by the Financial Planning Association of Australia, is focused on the next wave of ‘dreamers’, sharing money wisdom and practical tips with the people raising the next generation, so they can pass on the financial habits and skills that children will need later on in life.
The research includes the views of over 1,000 parents of Gen Z and Gen Alpha (aged 4 to 18 years) on raising the Invisible-Money Generation, uncovering gaps in money knowledge and expectations between generations. Did you know that 66% of parents believe digital money is making hard for children to grasp the value of money? Or that 62% of parents believe their children’s generation will be financially worse off than their own.
Interestingly, those who have sought the advice of a financial planner are the most likely to believe their kids are equip to transact in today’s digital money world.
These are just some of the insights revealed in the report.
The Financial Planning Association of Australia is celebrating Financial Planning Week from 20th – 24th August 2018. For more information visit their website here.
At the time of publishing, the contents of this resource were accurate and correct.
Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association