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Subject:  Letter to young couple (long) Date:  8/20/2003  9:54 PM
Author:  monica3674 Number:  500 of 5128

Last month, a teacher at my school asked what kind of advice I would give her son and daughter-in-law concerning money. They just got married recently and are in their early twenties.

This is what I wrote to them. Does anyone have any other suggestions?

Dear Andrew and Carissa,
Your mom asked what type of financial advice or information I would give to two young people just starting off. I teach with your mom at Nolan, and I really like financial stuff. My name is Monica and I am 29 years old. My husband, James, and I will be married for three years on Tuesday (he's also 29.) When we were dating, we made some long-term life and financial goals.

1. When I was growing up, my mom stayed home with my sister and me until my younger sister was in high school. I knew that I wanted to stay home with my children at least until they were in school.
2. We wanted to be Financially Independent. We both like to work, but neither of us wants to have to work.
3. We want to be able to send our children to college (and Catholic grade school.)
4. We don't want to have to worry about money.
5. After 5 years of marriage, we would like to have at least a $250,000 net worth.

In order to accomplish these goals, we would have to do some planning and lots of saving and investing. We decided that I would work for 5 years after we got married to try to save lots of money. This means putting off kids for 2 more years. I'd kind of like them now, but I want to stay home with them, so off to work I go!

Jamey and I are frugal by nature. We would be happier eating at