Finance - grads and recent grads

[somebodyshotmypaw]

My daughter is in elementary school still. She understands what a return on investment is and why TIME in the Market is the most important thing, not timing the market. She participates in her 529 plan and likes to see what it does day in and out.

Lauren Black at Phillips Financial is a really good resource for those just starting out. She is in Starkville and really tries to make sure you are set up correctly from day you hire her until you are well on your way. If any of the young people out there think they have a basic understanding, Lauren will give you some new things to think about and get your on course and automate it so you don't have to think about it every pay check.

One example that my daughter had to learn on her own, even though I've been telling her. Sometimes they have to see it. My daughter has a very nice Nissan Altima that I bought used. Her friend got a brand new Mercedes SUV. Obviously anyone would be a little jealous. Recently my daughter found out that the Mercedes was a lease. She also found out that the girl is attending Ole Miss utilizing student loans. So not everything was as it seemed.

A 529 plan was one of the best things I ever did. Now that they are in college, it's been so nice.

[Lord McBuckethead]

Telling someone something is hard to grasp. Watching the 529 go up through time and seeing how we handle money is key for her to understand.

When she gets her first job, we are going to sit down and discuss how to set her up for her Roth IRA and I am going to sweeten the deal by matching her contributions dollar for dollar.

[Martianlander]

Telling someone something is hard to grasp. Watching the 529 go up through time and seeing how we handle money is key for her to understand.

When she gets her first job, we are going to sit down and discuss how to set her up for her Roth IRA and I am going to sweeten the deal by matching her contributions dollar for dollar.

I worked for a guy that used to say " Wisdom can't be told " Lot of truth there

[DEDawg]

Telling someone something is hard to grasp. Watching the 529 go up through time and seeing how we handle money is key for her to understand.

When she gets her first job, we are going to sit down and discuss how to set her up for her Roth IRA and I am going to sweeten the deal by matching her contributions dollar for dollar.

You should get her to max her IRA herself then you match half of that in a brokerage instead

[Johnson85]

One example that my daughter had to learn on her own, even though I've been telling her. Sometimes they have to see it. My daughter has a very nice Nissan Altima that I bought used. Her friend got a brand new Mercedes SUV. Obviously anyone would be a little jealous. Recently my daughter found out that the Mercedes was a lease. She also found out that the girl is attending Ole Miss utilizing student loans. So not everything was as it seemed.

A 529 plan was one of the best things I ever did. Now that they are in college, it's been so nice.

You really can't tell much about people by their lifestyle. I've got older relatives on both sides of my family that always had nicer cars than my immediate family, took nicer vacations, ate out more, and just generally had much more consumption that are more or less broke at this point and too old to do anything about it. They probably did make a good 15-20% more in earned income over most of their careers, but spent that and then some and now are asking the family members that didn't take all the vacations and lease the nice cars to help keep them out of a medicaid nursing home.