Stephen Kates

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This will be the first significant test of the Sahm rule under relatively normal circumstances.

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The best financial education starts at home. Every parent wants what’s best for their children, and part of that is ensuring they have a bright financial future. Talking to children about money can start at an early age, but it becomes especially important as they enter their teenage years and begin to take on more adult responsibilities. While every family situation is different, and some may have access to different resources than others, there are always steps you can take to give your teen a jump-start on their financial journey. From helping them understand the ins and outs of basic financial literacy to encouraging them to start their own business, there are a range of ways to help, from the simple to the complex. Consider these nine recommendations from the financial experts of Kiplinger Advisor Collective to help set your teen up for a secure financial future.

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With a bit of knowledge and a plan, you can find your way to financial freedom. With student loans, rising housing costs and the ease of credit card use, it’s become all too simple to get into debt. In fact, it’s estimated that about two-thirds of U.S. adults carry some form of debt. And while being debt-free can provide some much-needed emotional freedom and relief, getting out of that debt can sometimes feel like a gargantuan task, especially if you've accumulated a large amount.  But according to the financial experts of Kiplinger Advisor Collective, paying off debt doesn’t have to be intimidating. If you’re ready to tackle your debt and take charge of your finances, consider these best practices for making debt repayment easier on you and your wallet. 

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There’s no shame in asking for help, especially when it comes to your finances. Personal finance is often just that: personal. Not only is it meant to adapt to your own needs, goals and wants, but it also can often be done on your own, with no outside help needed to succeed. However, finance can sometimes get complicated, especially as you start exploring more in depth with topics like investing, planning for retirement and estate planning. While you may be tempted to take on these complex areas on your own, it can sometimes be wise to bring professional help on board. As financial experts themselves, the members of Kiplinger Advisor Collective have helped countless people navigate the complexities of the financial world. Here, they discuss 10 important instances when you may want to consult a professional and why doing so will save you a lot of hassle — and money — in the long run.

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The stock market can be a confusing place for beginners, but it doesn't have to be. Often accompanied by words like “volatile” and “risky,” the stock market is an intimidating and confusing place for many. While beginner investors may know investing in the stock market is a key part of building wealth, they may also tend to avoid it because they feel it’s too complicated for them to get involved in or that they don’t have the knowledge necessary to make smart investment choices. Here, the financial experts of Kiplinger Advisor Collective seek to demystify the stock market and break down some of the fears people may have around investing. Below, they discuss some of the key steps you’ll want to take when jumping into the stock market for the first time and why a little education and a plan can go a long way toward investing successfully.

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Learning what not to do can put you on a better path to success. In finance, there are all sorts of best practices that can help you build wealth and gain confidence with money. However, for every best practice, there is an equal number of bad practices that can derail your progress or even completely jeopardize your future success.  And while failing to build a budget or letting ‘lifestyle creep’ take hold may not seem like they will have a major effect on your finances, it’s often the small mistakes that can lead to big trouble down the line. As leaders in the financial industry, the members of Kiplinger Advisor Collective are familiar with the kinds of mistakes that can negatively impact a person’s overall success with money. Here, they each share one financial “don’t” (or mistake) they always advise their clients to avoid, why and the impact it can have on their future.