Give your children the gift of a good financial role model

One of the best lessons parents can provide for their children is to model prudent money management, according to Phil DeMuth in Forbes. Start a 529 college savings plan for your children (and encourage them to contribute). Open Roth IRAs for your children when they start earning money (and encourage them to contribute). Read his suggestions at http://www.forbes.com/sites/phildemuth/2013/12/23/what-can-we-do-with-money-for-our-kids/