My Dad’s Wisdom
Bob is my Dad. He taught me how to wash a car, change a tire, pound nails, and make homemade wine. Yet one of the best things he taught were his no-nonsense lessons about money management. I never knew he was teaching me stuff. He probably didn’t even do it intentionally. It was just his practical way of doing what he did while he brought me along with him.
He was born in 1929, the year the Great Depression started. Just before the Great Recession hit in 2008, he had a million dollars in just his IRA fund. My parents lived like Warren Buffet, in an older house in a quiet suburb. Even though they worked as school teachers and saved part of their salaries for retirement, they still took us on many great vacations.
Dad saved his money, invested it wisely, shopped when things were on sale, and rarely bought things on credit. He showed me that if you took care of your money, you could still live comfortably, travel, and enjoy a few big toys. Using your money wisely does not mean you go without the good stuff. It means you can live without anxiety when you pay bills or something needs to be repaired.
I started this blog because my memory is bad. I can’t just explain things once to my kids since they’re no longer all living in my home. Now, with the big money lessons, I have to remember who I told or even what the lesson is. I just write it all down and when my kids need help, I send them to the blog. Well, really, I tell them to read my blog, they probably don’t, then maybe someone else tells them to read the blog and then they might since the messenger isn’t Mom. You know how that works. Hopefully, other people can also benefit from my Dad’s Wisdom.
There’s a half year of health class required in my kids’ high school. Why isn’t there at least a half year on financial education? It’s crucial to running a household, starting a business, and just plain living a great life. It’s not important how much you make either. It’s about what you get to keep in your pocket. I was lucky enough to have a dad who showed me how to manage money. I’d like to pass his ideas on to you.