As a parent in today’s world, you are probably wondering how to make your child successful in life, given a changing world and an economy that looks very different from those of previous generations. New perspectives on education and finances can certainly help. Learn how developing problem-solving strategies, cultivating creativity, and foundational personal finances could help prepare your child for success.
According to the World Economic Forum, critical thinking and problem-solving top the list of skills employers believe will grow in prominence in the next five years.1 While you may have read that schools do too much "teaching to test," many educators recognize the importance of problem-solving as both a life skill and a job function.2
Fostering an environment of creative problem-solving is an ongoing challenge for many schools. Students need opportunities to think creatively, experiment, and work with data throughout the year.3 What can we do to encourage children to develop necessary skills for the future? Here are two key places to start:
Students might, for example, pair up to build catapults that knock over a pile of blocks, learning not only some physics, math, and engineering but also how to problem-solve and work with a group. At home, you can supplement their school-based learning with activities to further help prepare them for the economy of tomorrow.
Invention education puts science, engineering, robotics, coding, building, and other skills into action.
According to the American Academy of Pediatrics, play can foster creativity and imagination, as well as dexterity and physical, cognitive, and emotional strength. Through play, children can explore the world, practice adult roles, develop new competencies, and develop the resilience to face challenges. Play also supports a child's ability to find his or her own interests and pursue them.
It’s never too early to get a jump start on your financial future. Early financial preparation is another way to help prepare your children for success.
As your family grows, so do your needs.
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1Kate Whiting, “These Are the Top 10 Job Skills of Tomorrow—and How Long It Takes to Learn Them,” The World Economic Forum, October 21, 2020. https://www.weforum.org/agenda/2020/10/top-10-work-skills-of-tomorrow-how-long-it-takes-to-learn-them/
2”Why are life skills important?”, Macmillan Education, August 9, 2019. https://www.macmillanenglish.com/us/blog-resources/article/why-are-life-skills-important
3“What Is Invention Education?” California Invention Convention, 2021 https://cainventionconvention.org/what-is-invention-education/
4Mirjam Schöning and Christina Witcomb, “This Is the One Skill Your Child Needs,” The World Economic Forum, September 15, 2017. https://www.weforum.org/agenda/2017/09/skills-children-need-work-future-play-lego/
6Earnings portion of the withdrawals will be subject to ordinary taxes plus 10% penalty if used for non-eligible expenses.