Published in the April 15-28, 2015 issue of Morgan Hill Life
By Tracy Newquist
Tracy Newquist
Many of us had a lemonade stand as kids. I did, and proudly claim it as my first lesson in business and economics at the age of 4. Mom helped make the lemonade, get the cups, make the signs, set up the table on the driveway, and seed the coin box. At the end of the day, my sister, 5, and I had made $12 — quite a take for us in 1971.
Proud of our profits, we shared our success story with dad, who then took $3 out of our coin box, “this is for mom — $2 for the cups, lemons and sugar, and $1 for the starting change.” And then he took another $6. Bewildered, we asked why he got $6 and he responded, “Rent on the driveway.” Lesson learned, we each ended up with $1.50!
The team of financial experts at RNP often address questions and frustrations from clients on expanding their youth’s understanding of money, that everything costs something, and the importance of saving for their future. At RNP we know our children are our future and educating them on financial responsibility is a must. History, language and mathematics are all skills we learn, not knowledge we are inherently born with. We believe basic financial literacy — budgeting and managing your finances — carries the same importance.
To answer this direct need, RNP has established a partnership with local teachers of math and finance to educate our kids in the classroom about these important issues. Dan Newquist, CFP®, AIF® who is a partner and Senior Wealth Advisor at RNP spends time at our schools educating students on various topics such as the value of a dollar, compound interest and basic budgeting.
Our passion at RNP doesn’t stop there. We see a huge need for educating young professionals as well as individuals who are starting a family. Many of us like to think optimistically about our future and rarely plan for the worst. Starting to plan for retirement, the cost of education for our children and unexpected tragedies are all things we can plan and should be prepared for. To answer many of these questions young professionals and families have RNP hosts educational workshops as well private appointments.
At the heart of RNP, and our core advisory expertise, are folks ready to retire or are in retirement who are looking for peace of mind and financial well-being. Planning for the known, as well as the unknown, are made possible by having both the knowledge and experience to craft a strategy with the creativity to think through the various possibilities life brings. Our team works with clients to understand their needs and goals for a comfortable retirement. To provide an educational foundation, Carl Reinhardt, ChFC®, RNP CEO and Senior Wealth Advisor, and our team of advisors, host workshops on retirement income planning, estate planning and charitable giving. Quarterly we host a webinar which highlights timely market and economic topics.
Tracy Newquist is president of RNP Advisory Services, Inc., a registered investment advisor, in Morgan Hill. She can be reached at (408) 779-0699 or [email protected]. Securities offered through Foothill Securities, Inc., member FINRA/SIPC, an unaffiliated company.
