My dad was was a great father. However, there was one area of parenting where he fell short - teaching me about money.
My lifetime has mirrored one of Jimmy Buffett's most classic lines..."I made enough money to buy Miami, but I pissed it away so fast."
I have been in deep credit card debt several times, I have taken out high-interest equity loans on cars, I have not always lived by the maxim "Make all you can, save all you can, give all you can."
I am fortunate right now to be debt-free (except for my mortgage) - through a series of good investments by my dad and me and the advice of a couple of good books. I have a nest egg for retirement, a college fund for my two remaining college-age kids, and even 529 accounts for grandchildren..
I have talked to my sons about money (particularly my downfalls). But I also plan on giving my two college-age sons lasting advice in the form of two books as they graduate from their respective universities. These books have helped me tremendously - I wish I had had them when I was a young man.
I encourage you to read them and pass them on.
Rich Dad, Poor Dad by Robert Kiyosaki
The Total Money Makeover by Dave Ramsey
No comments:
Post a Comment