debtfree

Will the Boys take Action or Not Towards their Financial Freedom

Our boys are good boys and we are very proud of them and love them to death. But they still worry me that they may not be Financially Free in the future because of their lack of Action towards Money and Education. Like is hard and even harder if you don’t have money. We constantly tell them they need to live with the Consequences of their Choices they make.

Fix or Sell the Car

Recently we took our car in for an Oil Change and the Store Manager came out to the sitting area and gave me a long list of repairs the car needs. It was over $3,600. I said to him that the cars value isn’t much over that. When the shock wore off, I told him I was going to hold off for now.

Stocks – Hold or Sell

There are a lot of different philosophies on the subject of if you should stay in the market through the up and down times or not. Some of my friends say they get out when it is high and then buy when it is low. They swear they make a ton of money doing it that way. Yet, I don’t have a crystal ball on when the Stock Market is at around the top and not going any higher. I would have felt bad jumping out of the Stock Market when it was even at 20,000 and then waiting for a crash. I would be missing out on all these dividends and growth we have been receiving.

Pay Cash and Don’t Borrow Money

Very few people probably don’t think this is possible to do. But I am telling you that anything is possible and some people are able to do it. Our boys for sure don’t believe in it but we are working with them on it. They want everything now and not to save up for it.

Choices and Consequence’s

We have talked about Choices and Consequences so much in our house that the boys will make jokes with me about it. We laugh and it does help me think about it when they say something about one of my choices.

Emotions and Money

Emotions can factor in many money decisions. Emotions also can come into play when Money is part of the topic in a relationship. Especially when both people in the relationship has totally different views in their mind.

Pension Qualify Time

Pensions aren’t as common as they were back when my Dad was working at International Harvester. They made Farm Equipment there in Rock Island, IL. They had a Union there which my Dad was a Shop Steward for the Union. They also had a Pension and Health Care for life for Mom and Dad. Pretty good deal. I am going by what he told me I never read all the details of it.

Retirement Withdraw Plan

Many people I have talked to said one of the things they worry about is running out of money during their retirement years. I have those worries also myself. The more studies that I read about and people I talk to that withdrew 4% of their retirement funds and it worked out for them gives me a calming feeling.