Transcript Modern Parenting - Foundation for Financial Education

Modern Parenting
Presented by the Foundation for Financial Education
f3eonline.org
| (240)
499-0390
f3eonline.org
| (240)
499-0390||[email protected]
[email protected]
Step-Parents and Co-Parenting
 The new ‘normal’ -- two parents, one parent, grandparents, gay
parents, foster parents, old parents, young parents, new parents
 40% of families are ‘nontraditional’
 Double trouble: 2 households, 2 sets of rules, 2 sets of expectations
 Parents as role models
*COMMUNICATION IS KEY*
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Child Psychology
• Types of children
• Types of pressures and disorders
• Media exposure and desensitization
What is the Solution?

Quality time
 Personal time
 Consistency
 Listen & Talk
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The Evolution of the Modern Family
 Parenting Parents: Multi-generational homes
 Elderly care
 Medicare & Medicaid
 LTC & Insurance
 Medical issues: Alzheimer’s / Dementia
85% of elderly over 85 years old have dementia
 Estate Planning
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Higher Education: Available Resources
 College planning, prepaid tuition plans, gifts, scholarships, grants,
loans, financial aid
 529 Plan
 UGMA: Uniform Gifts to Minors Act
 FAFSA
 Costs of education have been spiraling out of control:
Better to save for retirement and withdraw if necessary.
 Different types of loans available:
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Stafford subsidized
Stafford unsubsidized
401k
Home equity loans
Personal loans
Credit card
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F3E Scholarship Program
• 300+ Private Colleges
• Scholarships up to $44K, non need-based
• 260,000 students currently enrolled
• $25 million given out last year
 Most families rely on two incomes
 How do you best position your situation for college planning?
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Social Security For Kids
Parents qualify  kids qualify
 Older parents
 Adopted children
 Second marriages
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How it was then…
 Kids played with other kids in the area
 Sought out entertainment or made it themselves
 Minimal technology
 Dinner time = family time
 Face-to-face communication
 Parent + teacher + school involvement
 A.D.D.  O.C.D.  anxiety
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How it is now…
 How many of your neighbors do you know?
 Dinner time = entertainment / technology time
 Screen-to-screen communication: Texting, blogging, chatting
 Social media: Facebook, Twitter, Instagram
 Medicalization of deviance
 Diagnoses of A.D.H.D./A.D.D. in children increased over 200% in
the past 20 years (CDC)
 Obesity epidemic
 Now most prevalent health problem in children
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Special Needs
 Special needs trust
 Government benefits
 Life insurance
 Wills & guardianship
*www.specialneedsalliance.org
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Role Models
Who / what we want them to see:
 Parents, friends, relatives, teachers, coaches
 Good work ethic, dedication, full or part-time jobs, volunteering

Big Brother / Big Sister programs
Who / what they see:
 People in the media: celebrities, TV characters, actors, musicians,
athletes
 The average person views at least 250 advertisements a day
 Unattainable goals = damages body image and self-esteem
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