FREE NEWSLETTER
Go to main Forum page »
Times have changed a lot since we graduated from high school or college. We have experienced many ups and downs in life and observed what works and what doesn’t. Some financial and life lessons we learned are still valuable to the next generation.
Let us share it here!
Sundar Mohan Rao
Fully fund your Roth IRA. VTI will do just fine.
Character and integrity matter. Period.
I believe choosing your spouse is the one, single-most important decision of your life…most important family decision…most important emotional/psychological decision…and most important financial decision.
Life-long learning is a must… Library cards are free. Youtube is free. Podcasts are free. The internet is 99.9% free. Never stop.
Hopes and Dreams are great, but until they are turned into Goals, with detailed plans and all the necessary hard work and persistence, they will never be realized.
Good grades and saving money just gives you more choices…and that beats few or no choices…And the earlier you start either, the longer you’ll have those choices.
Forgiving is what you do for your own wellbeing…But just because you forgive the dog that bit you, doesn’t mean you try to pet him again.
Sunsets are as beautiful as sunrises and you don’t have to get out of bed as early to see them.
When in doubt, give.
Great list. Wish I had this when I graduated!
Ditto
It’s a broad generalization but there are some underlying truths to this jingle that I heard many years ago… In your teens, play all you can, in your 20’s take all the risks that you can, in your 30’s learn all you can, in your 40’s earn all you can, in your 50’s teach all you can, and in your 60’s retire as gracefully as you can.
Stay focused on your goals but also enjoy the ride. It goes faster than you can ever imagine. Make sure you have a balance between preparing for the future and enjoying the present. It’s not easy but it’s doable.
Having a balance is a great advice. I need to do more of this in my retirement!
Save and never stop saving and investing, time is your friend. Avoid creating your own problems by making poor life decisions. Always give your best on the job, even if it is not your ideal job.
Make goals and work toward them. Don’t be selfish in any aspect of your life. Be patient with yourself and others, especially people you love.
I like the statement “Always give your best on the job, even if it is not your ideal job”. I have seen so many smart young hires with fancy degrees think that their first job is beneath them. They wait for the next job, where they can shine. That opportunity never comes and they are let go, because management wants people who can step up and prove themselves before they move up.
Young people who work hard truly stand out at my workplace and the business I frequent. I go out of my way to recognize them.
Assuming they have a job, be sure to invest in your company’s 401K and be sure to contribute enough to get the full match. Invest it in Index 500 funds or similar. Increase the % every time you get a raise.
Obviously there are lots of other gems to impart, but this one is essential.
Agree. Also, do not withdraw from 401k.
Be careful who you marry. Therein lies 99% of your happiness or 99% of your misery!
Great one! My kids are in the recent grad category and they are doing great with money as they get started and in high demand job fields. My biggest concern is thus this one – maturity as they consider marrying and hopefully a good match.
This is the very first advice I would hand out. If I knew then what I know now. Will this person be a good parent? Positive attitude? Compatible goals? Giver or taker? I could go on, but you get my drift.
With failure rate in marriages approaching 40-50%, no wonder young are marrying late. They are more mature by then and hopefully choose the right partner.