Ron Lieber reports on a new book by Kimberly Palmer, in which she sets the groundwork for parents to pass on monetary wisdom to their children. She suggests writing a letter,

A good letter, according to Ms. Palmer, should include at least one story about a large financial challenge and another one about a big money triumph. Then, include a list of crucial habits and the tangible things they have helped the family achieve.

Her tips include: heed your ignorance, beware of genius, stick to your selling plans, and remember, budgets are about values.

To read the entire story click here: The Money Letter That Every Parent Should Write

Posted by Allison Trupp, Associate Editor, Wealth Strategies Journal