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Your money how to launch a financially successful adult


(The writer is a Reuters contributor. The opinions expressed are his own.)By Chris TaylorNEW YORK, June 19 It's the secret fear of every American parent: failure to launch. What if, despite your best efforts, your adult kids just aren't able to sustain themselves financially?The idea used to give Andy Byron the cold sweats. With a whopping five kids, the 57-year-old financial planner from Pleasanton, California wanted no part of 'delayed adults' hanging out in his basement well into their thirties. So he and his wife turned their household into a virtual factory for churning out financially independent kids. The eldest girl, 29, is an English language teacher. The 26-year-old twin boys work for Apple and PricewaterhouseCoopers, respectively. Their 22-year-old son scored a paid summer internship with medical device manufacturer Stryker Corp, with an eye toward a career in medical sales. The 19-year-old daughter, a college sophomore in the fall, is combining her studies with a paid summer internship and a part-time accounting job during the school year. So what's their secret sauce?"Start early, be consistent, and make sure they know what their responsibilities are," Byron says. As soon as they were 16 or 17, the parents told their kids that they had to get jobs, and would be on their own after graduation. As a result, the three oldest are out of the house and get no more monthly cash from the bank of Mom and Dad; the younger two will follow suit soon. While the Byron clan appears to have figured it all out, it's no easy task to nudge kids from the nest. Among people in their 40s and 50s who have adult kids, a stunning 73 percent report lending financial help over the previous year, according to Pew Research Center, a Washington-based think tank.

Are the successful launches of the 27 percent due to thoughtful, years-long projects to educate kids about handling finances? Or are they product of tough love, throwing adult kids into the deep end of the pool in order to force them to swim?"They are more the result of financial education, and talking about money, which ranks right up there with sex as a taboo subject," says Sally Koslow, author of the book "Slouching Toward Adulthood."For those with children who have yet to launch, there is plenty of time left on the clock. Here is how to prep kids for true financial independence, during college and the critical years that this site YOUR PART

If you don't want your kids financially hanging on, do whatever you can to help them graduate from college debt-free. Seven out of 10 college grads last year had outstanding loans, at an average debt of $29,400, according to the advocacy group Project On Student Debt. To help them avoid indentured servitude, start saving as soon as they're in swaddling clothes. Andy Byron and his wife contributed at least $50 a month, and often much more, into 529 college-savings plans for each one of their five kids - "as soon as each child had a Social Security number," he says. Byron supplemented that aggressive strategy by "strongly suggesting" the kids go to public, in-state universities. The payoff: All the Byron grads have emerged from their college years free of student debt. DRAFT A WINGMAN

The popular HBO series "Girls" was premised on a key event: Lena Dunham's character getting financially cut off by her parents. That can be excruciating for everyone involved, but necessary nonetheless. "Parents get so emotionally involved," says Matt Curfman, a vice president with financial advisers Richmond Brothers in Jackson, Michigan. "That's why I tell them, 'If you need me to jump in and help, even if I end up being the bad guy, I'm happy to do so.'"It doesn't have to be done in one fell swoop, Curfman notes. If your adult kid runs into financial trouble, write down a concrete plan to help with a certain amount of dollars for a certain number of months - "but that's it."BECOME A PART-TIME PROFESSOR Kids get plenty of calculus and chemistry in high school and college, but personal finance? Not so much. That's where parents can make themselves a critical resource. For 24-year-old Annie-Rose Strasser, home instruction was what set her on the path to become the financially independent young adult she is now. Strasser has a full-time job as a journalist in Washington and lives in her own apartment. "I never learned personal finance when I was in school - 401

Your money top travel tips for a hassle free journey


(The author is a Reuters contributor. The opinions expressed are his own.)By Mitch LipkaAug 21When is the best time to book a trip to Walt Disney World? What are the niftiest travel apps? How do you arrange a speedy Plan B if your flight is delayed or canceled?The answers to these and other travel questions from those in the know could make the difference between a pleasant journey and one you want to forget in a hurry. During a Twitter discussion on Aug. 19 hosted by Reuters, a panel of experts fielded questions about travel. Below, we elaborate on the pundits' responses beyond the 140 characters allowed in a tweet. The panel comprised Brian Kelly, who runs ThePointsGuy.com; Tim Winship, editor and publisher of FrequentFlier.com, and Jason Cochran, editor of Frommers.com.(Read the entire Twitter thread at #ReutersTravel.)WHEN IS THE BEST TIME TO BOOK HOLIDAY TRAVEL? About four to six months in advance will likely give you the best chance to get better prices. Within a month or two of major holidays, prices tend to rise considerably. It's risky waiting for a last-minute deal. You could end up paying some of the highest fares, or not getting a flight at all.

AT THE AIRPORT, YOUR FLIGHT'S CANCELED. WHAT SHOULD YOU DO? Call the airline reservation service to see what other flights they can get you on. If there's a major cancellation, you'll likely encounter a crowd at the airline's customer service desk. If you have airline lounge access, try to find help there, too. Consider using Twitter or other social media to get answers. But note: You're more likely to get a prompt reply if you have a large social media following. If your plans are disrupted and an immediate solution isn't in the offing, feel free to show true emotion (without yelling or screaming). It can be discombobulating when you're expecting to travel somewhere but are stuck along the way. Airlines are able and willing to compensate customers who have been thrown off course.

WHEN'S BEST TO VISIT DISNEY WORLD OR A SIMILAR THEME PARK? Visiting theme parks at off-peak times can make for a very different and considerably more pleasant experience, partly because you'll enjoy lower hotel rates. If you can swing it, go while school is in session. A trip just before the winter holidays, for instance, will allow you to see the parks all decked out, while avoiding wall-to-wall crowds and multiple-hour-long waits for rides. WHAT ARE SOME HANDY TRAVEL APPS?

Jason Cochran, editor of Frommers.com, recommends CityMapper. The app provides detailed transit information to help travelers get around in eight cities: New York, Boston, Washington, D. C., London, Paris, Barcelona, Madrid and Berlin. He also likes Voxer, which turns a smartphone into a walkie-talkie, so you can talk to anyone else on the app for free. HiConverter converts just about any currency or measure. Brian Kelly, of The Points Guy, likes the Uber app for car services, HotelTonight to get last-minute hotel deals, and TripIt to make his itineraries. WHAT ARE SOME MUST-PACK TRAVEL ITEMS? Among the recommendations: An extension cord ; var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $('.related-content.group-one ul'); var $relatedContentGroupTwo = $('.related-content.group-two ul'); $.each($relatedItems, function(k,v) { if (k + 1 = median) { $relatedContentGroupOne.append($relatedItems[k]); } else { $relatedContentGroupTwo.append($relatedItems[k]); } }); } else { $('.third-article-divide').append($('div class="related-content group-one"h3 class="related-content-title"Also In Cyclical Consumer Goods/h3ul/ul/div')); $('.related-content ul').append($relatedItems); } },500); } Next In Cyclical Consumer Goods Volkswagen CEO to stay away from Detroit auto show BERLIN, Jan 4 Volkswagen chief executive Matthias Mueller will miss the Detroit auto show next week, the German carmaker said on Wednesday, amid uncertainty over its chances of settling a U.S. criminal investigation into its emissions scandal. COLUMN-Reading news in the age of Trump? Think like a spy. Jan 4 President-elect Donald Trump is clearly antagonistic toward the mainstream media. That attitude is unlikely to change after Inauguration Day. His disdain for journalists and reluctance to release details about his finances and business ventures may force journalists to rely increasingly on anonymous sources, a strategy that reputable news organizations have long frowned upon. UPDATE 2-Amazon doubles deliveries in 2016 for third-party sellers Jan 4 Amazon.com Inc shipped 50 percent more items during the past holiday season than the prior year for third-party vendors and doubled the amount for 2016 overall, the world's largest online retailer said on Wednesday. MORE FROM REUTERS window._taboola = window._taboola || []; _taboola.push({ mode: 'organic-thumbnails-a', container: 'taboola-recirc', placement: 'Below Article Thumbnails - Organic', target_type: 'mix' }); Sponsored Content @media(max-this site) { #mod-bizdev-dianomi{ height: 320px; } } From Around the Web Promoted by Taboola window._taboola = window._taboola || []; _taboola.push( { mode: 'thumbnails-3X2', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' } ); window._taboola = window._taboola || []; _taboola.push