June was nothing like it was last year for sure. So many negative things going on in our world and it is hard to always tell what is true or fake news.
Last year when the Navy recruiters came over to our house the one recruiter brought up about how he wished his parents would have taught him the things we are teaching our boys. I told him that is why we are teaching our boys these lessons and why I am sharing it with the world with my Podcast, Blog and my book to be released hopefully before 2021.
Who doesn’t like a party? We do in our house for sure. We work hard working towards our Financial Freedom goals and it is fun to celebrate when we achieve one of our goals along the way.
There is no law that I know of that says parents have to pay for their kids’ college. As far as I know it is optional. We have told our kids for years that they need to pay for college if they want to go to college.
For our family Roth IRA’s and Roth 401K’s are currently our best option. We are a huge fan of them. It isn’t for everyone but we stress to our boys to start with Roth Retirement Accounts early to help them towards their Financial Freedom goals.
Many people do not have enough money in their bank accounts to pay for a $1,000 car repair bill. I have worked with and talked with so many people that had less than $100 in their checking and savings account. Many had no retirement savings either. I have heard that one out of four people have no emergency savings fund.
Once debt free it is important to stay debt free. This is one of the lessons we teach our boys. It is easy to get back into debt if you let yourself once you are debt free. I know this from personal experience. I let myself do this several times until I got tired of the rollercoaster of debt and jumped off.
Everyone has different situations that can affect when they choose to start taking Social Security payments. Some of my friends started at age 62 and some waited till age 70. For your situation it would be good to visit with your Financial Planner and your local Social Security Office.
We just showed the boys again today how we were over charged at the store. It was only $4.20 on that trip but like we told them that $4.20 if it happened each week it would add up to $218.40 in one year.
Down here in Arizona I have golfed with so many people that had plans on enjoying retirement and playing tons of golf but things happened with their adult kids that they had not planned about.