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Reply to "Do you tell your kids exactly how much you make?"
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[quote=Anonymous]When your kids are young you can talk about percentages. We spend this much, save this much, etc. When they're older and more mature you can start talking about real numbers. Start with something that affects them directly like how much money is in their 529 and how you're thinking about funding college. Next you can talk about retirement and how you saved and what you're planning, etc. Last, when they're older (high school) is how much you make. They're going to find out anyways when they fill out a FAFSA. Financial literacy is important but you don't have to tell your 5 year old your salary to start instilling good values. [/quote]
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