This Is Why Your Adult Children Need a Financial Plan

By Anastasia Taber, CFP®

No matter the stage of parenthood, whether you’re raising young kids or your children are fully grown, you want them to thrive in every way: emotionally, personally, and financially. A key part of that is helping them develop the skills to manage money wisely. 

Even if your own finances are in order, many adults navigate life without a clear long-term plan. Research shows nearly half of American taxpayers haven’t formalized a financial strategy, while those who work with advisors typically enjoy greater financial stability, confidence, and peace, according to Northwestern Mutual’s Planning and Progress Study.

Encouraging your grown children to establish a plan now can set them up for lasting independence, smarter financial decisions, and a stronger foundation for the future. Let’s explore why making financial planning a priority for your adult children is so impactful.

It Equips Them to Manage Their Own Wealth

One common struggle among parents is teaching their children good money habits. You spent decades using your skills to build your wealth, but your children may have come after the hard work was already put in and didn’t pick up on the example you set. 

Setting your kids up with a financial plan not only helps shine a light on their current habits, it can also help them develop their own goals, dreams, and values outside of the family’s wealth. Plus, studies show that if your kids put their financial goals in writing, they’ll be much more likely to achieve them.

It Helps Solidify Your Legacy

If you have a financial plan, there’s a good chance legacy planning is a part of it. You want your children to inherit your wealth when you’re gone, but you also don’t want them to squander it. This is another area where having their own financial plan can help. 

When a financial advisor works with the next generation of a successful family, it helps transition the parent’s legacy seamlessly to the children when they pass away. It also establishes an ongoing relationship between the advisors and your children, which opens the door for clearer communication and transparency down the road.

Creating multi-generational wealth isn’t easy. It involves more than just minimizing taxes and maximizing investments in the here and now. It’s about instilling the values and habits in your children that help them remain good stewards of wealth after you’re gone. That starts with a financial plan.  

The Ultimate Gift You Can Give Your Kids is Financial Planning 

Talking to your adult kids about financial planning can feel tricky (or even a little awkward), but there’s no better time to start than now. And you don’t have to navigate it alone. At TABER Asset Management, we guide both you and your children through the process, step by step.

If your children could benefit from a financial plan, we encourage them to schedule a call with us. We’ll review their current finances, help define goals, and craft an investment strategy that fits their risk tolerance, timeline, and long-term objectives. Our mission as fiduciary advisors is to give clients the clarity and confidence to pursue the life they envision through thoughtful financial planning and wealth management, while always keeping their best interests the top priority.

Get started today by scheduling a 15-minute intro phone call online or reaching out to us at 703-380-0968 or invest@taberasset.com. 

About Anastasia

Anastasia Taber is an Associate Advisor and leads the financial planning services division at TABER Asset Management, an independent, fiduciary wealth management firm, in Alexandria, Virginia, and Des Moines, Iowa that strives to do one thing well: manage their clients’ money by creating wealth, building wealth, growing income, and preserving capital so they can experience financial freedom. Anastasia is a CERTIFIED FINANCIAL PLANNER® and has a Bachelor of Arts in English from Georgetown University. She has years of experience working for one of the largest REITS in the U.S., as well as in property management and accounting at a global law firm in Washington, D.C. Anastasia is passionate about exceeding her clients’ expectations and building caring, long-term relationships based on trust. She is known for being detail-oriented and committed to excellence in her work. Anastasia is a co-host on the Creating Wealth podcast. To learn more about Anastasia, connect with her on LinkedIn.