Lori Humphreys | Staff Writer
Karen Greb, senior vice president of investments with Merrill Lynch Global Wealth Management in Pittsburgh, knows something about making money, keeping money and losing money. It is knowledge she shares daily in her professional life.
More interesting is her conviction that children need to be educated about the use and misuse of money, which may help them prevent financial discomfort and even disaster. She is offering a “how-to” presentation, “For Adults Only: The Enjoyable Art of Raising Financially Responsible Children,” at 1 p.m. today for the Chautauqua Women’s Club Professional Women’s Network at the Women’s Clubhouse.
“A little home-schooling would be in order,” Greb said. “Research claims that 88 percent of the population learns (about finances) from their parents and grandparents.”
She said her whole practice is based on families and their frequent request — “Help me teach my children how to manage money.”
She recounts the story of a client who, as a young man, ignorant about money, went through his inheritance. In later life, he inherited again, and told Greb he didn’t want what happened to him to happen to his children. He insisted they learn basic financial skills.
“My talk focuses on two concepts: basic math skills and the importance of delayed gratification,” she said.
For Greb, managing money is like managing health, and like health habits, the same rule applies — it’s a lot easier to learn good habits at age 5 than at age 55. Her presentation will include game suggestions and activities parents can use with their children. And, they might learn something themselves.
Greb is a graduate of Duquesne University. She has an Investment Management Analyst certification from the Wharton School of Business at the University of Pennsylvania. She also has a Private Wealth Advisor certification from the University of Chicago Booth School of Business. She is a board member of Visual Arts at Chautauqua Institution Partners.