Your child’s sports could be sabotaging your financial health

TD Ameritrade also found that sports parents are less likely to save for retirement through a 401 plan or individual retirement account than they were three years ago.

“There is nothing wrong with helping your son or daughter realize their sports dreams, but it definitely shouldn’t come at the expense of your own retirement or understate your family’s needs,” Luber said. The survey showed that sports parents spend twice as much time on their children’s activities than they do on financial planning.To keep your money priorities straight, Luber recommends committing to a plan.and creating savings buckets for each of them — your retirement, your children’s education, vacations and sports, to name a few.Then, have

with your family, so that your children understand the trade-offs of participating in costly sports programs, such as forgoing a family vacation.

BETTER Here’s the problem...when it comes time to be picked for a middle school/HS team, who do you think gets cut? The Rec kid. If you want ur kid to play in school, u have to make the investment. It also helps when applying for college & they see the balance between sports & academics

BETTER Whoever spends 500+ a month is actually numbing. Pure stupidity

BETTER

BETTER I don’t think the answer should be to burden your kids with knowledge of the financial consequences of a decision that is solely yours. The answer is to make better decisions and let your kid be a kid.

BETTER I used to work at a concession stand in a 'Tony' neighborhood. The saddest thing I saw was one woman paying coaches to help her son in baseball. Like she was desperate for him to make it big. Then I catch her throwing baseballs at him to hit while talking on her cell phone 1/2

BETTER

BETTER Duh

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