The Motley Fool Discussion Boards

Previous Page

Financial Planning / Wealth Creation Strategies

URL:  http://boards.fool.com/actually-i-like-the-idea-of-a-penalty-i-want-the-22905272.aspx

Subject:  Re: Funding my kids IRA Date:  8/17/2005  11:27 PM
Author:  MotleyGeo Number:  33 of 72

Actually I like the idea of a penalty. I want the investment to grow. Sure a house is usually a good investment, but if they want to save for a home they can always move back home (I enjoy my daughters...even in this teenage stage...go figure!) and bank the money.

When my wife and I got married we moved into my parents basement for a year. With two nice incomes, no rent and no kids we packed it away. Our first house was modest and with a large down payment we were able base our monthly payment on just my income. Her income was play money and play we did for 6 years before our first kid. We were able to have fun, stay out of debt and save money. After 25 years of marriage we are still following the same formula and have been blessed beyond my hopes. Despite this I still worry about retirement. I don't want my girls to have this worry.

George
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us