Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 09-13-2018, 11:33 AM   #21
Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 2,425
Originally Posted by GravitySucks View Post
Ha! I was at a party a few months ago where many guests were high school and Jr. high school teachers.I

I'd rather they didn't give financial advice to the next generation.
I am a firm believer that every kid should open and use an eBay account and invest in a mutual fund as early are legally possible. Those two things alone will teach him or her more about free markets/finances, supply and demand and the power of compounding more than anything else.

COcheesehead is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-13-2018, 12:26 PM   #22
Thinks s/he gets paid by the post
Join Date: Nov 2009
Posts: 4,865
I always get a kick out of any of those percent-of-income or multiple-of-income rules of thumb. As I have written many times in this forum before, twice I reduced my weekly hours worked in the waning years of my 23-year career. So, the obvious question I ask in this context is, "Which income should I use, my full-time income, my initial part-time income, or my extra-reduced part-time income?"

Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is online now   Reply With Quote
The lesson here is to keep it simple
Old 09-13-2018, 12:31 PM   #23
Full time employment: Posting here.
Mdlerth's Avatar
Join Date: Oct 2016
Location: The Shire
Posts: 983
The lesson here is to keep it simple

Originally Posted by EvrClrx311 View Post
The few articles that would actually explain the deeper mechanics would be tossed aside by the average reader
Paying it forward is the best investment.
Mdlerth is online now   Reply With Quote
Old 09-13-2018, 12:37 PM   #24
Thinks s/he gets paid by the post
Red Badger's Avatar
Join Date: Jan 2017
Location: Piedmont Region
Posts: 1,525
Originally Posted by Dtail View Post
Think about it. It all starts in school with typically no personal finance classes. Wouldn't those classes be more important than economics for example?
I agree. Kids graduate and have zero knowledge of finances while living in a fairly freewheeling capitalist economy. I had to be the educator for my our son. Of course, my mistake was waiting until he was at the "parents know nothing" age. Now that he's been a working stiff for a few years, he gladly spends time with me learning LBYM and investing 101.

I say this with GravitySucks (post #20) in mind, that our current crop of educators are particularly unfit to teach family finances. That said, they might excel at same in a Marxist economy.

Combined with a lack of education is the multi-billion dollar marketing industry, filled to the brim with highly educated SME's, that are targeting these same kids with powerful messaging designed (quite successfully) to part them from their money.

Never let yesterday use up too much of today.
W. Rogers
Red Badger is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Holding non-fidelity funds at fidelity panhead FIRE and Money 16 05-02-2013 07:37 AM
What %age of your household gross income do you save per year? web_diva FIRE and Money 76 06-03-2012 09:56 AM
Save 100% of Net Income? kjpliny FIRE and Money 18 04-11-2011 07:19 AM
My 2005 gross income: $96,500; How much can I save in my Roth IRA? SLC Tortfeasor FIRE and Money 2 01-02-2006 11:29 AM
What percentage of your gross income do you save? SLC Tortfeasor Young Dreamers 152 11-03-2005 07:12 AM

» Quick Links

All times are GMT -6. The time now is 08:24 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.