A recent Voth Nixon Group survey concludes that one in four parents consider that their children could face a gloomy financial future.
The results, which coincide with the publishing of Voth Nixon Group’s ‘Setting Aside for the Future: Guide’, show that more than half of parents (62%) are concerned for their children’s future financial security, 24% of them feeling disheartened regarding the outlook.
The survey also found that half of parents are conserving a part of their income to assist paying for their children’s continuously increasing cost of education and housing which generates even more economic pressure.
Amongst parents there is a growing trend of requesting that financial education should be taught to children at a younger age with nearly two thirds of parents considering that their offspring should begin learning about money even before the age of puberty. Only one in ten parents thinks that kids should start learning about personal finances past their mid-teen years or even later than that.
“Anticipating what the future might hold for their young ones is an aspect that concerns many parents, if not all of them” said Abigail Nixon, Managing Director of Voth Nixon Group “Despite economies around the world showing signs of improvement, parents are still worrying when it comes to their children’s financial outlook. A good way to avoid such concerns would be long term planning and investing early, with small and regular contributions. In order to assist parents with preparing for their children’s future monetary needs Voth Nixon Group has published the “Setting Aside for the Future: Guide” which offers unbiased information regarding available options without the complicated vocabulary of the economic industry. It has become more than apparent that parents consider education a fundamental element in helping people appreciate the importance of setting aside funds for future plans and offering this sort of education to their kids will teach them the value of prudent saving”.
About Voth Nixon Group
VOTH NIXON GROUP is a global asset administration group, managing capital for both institutional and retail investors across the world. Our aim is to provide solid fund performance across various asset types in which we know we have a viable competitive edge. At VOTH NIXON GROUP your goals are important to us. We understand the financial challenges that make it difficult to achieve your targets, and we’re qualified to provide the assistance you need. We believe your financial progress, regardless of your present situation or economic condition is achievable.
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