My Next Move

What can different generations teach each other about money?


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It happens all the time. The older generations complain about younger people being irresponsible or not as hard-working as they should be, while that younger generation says older people are out-of-touch and stubborn. Sure, some of this is true. But in this week’s episode of My Next Move, your financial podcast series, host Michael Liersch tells us there are far more similarities between generations than there are differences. As we age, our ability to make sound financial decisions improves – to a point. Research tells us that, after a while, that ability slowly begins to decline. So, it’s important that younger and older people can work together – especially among family members – to achieve whatever financial goals they may be pursuing. As Michael notes, it’s also crucial to be introspective. Is there something preventing you from collaborating with those of different generations? Are you holding on to those old stereotypes? Are you harboring resentment? Most importantly, how can you build bridges that will open up your ability to work together to solve money issues? Sometimes all it takes is putting yourself in the other person’s shoes.
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My Next MoveBy J.P. Morgan Asset & Wealth Management