Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 6776  
Subject: Re: Teaching personal finance Date: 6/17/2006 12:29 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
There was an amazing article that said the wealth of my husband and me should be considered an asset of the whole family. Maybe someday but it's hard for me to see when that day will come other than when we're both dead and gone. It's ours to do with as we wish. Now I seriously doubt my kids would ever read an article like that and come to use with a plan for what to do with the family wealth.

This particular one is one of my pet peeves. It's the notion that anything I earn belongs to anyone else who happens to be related to me. It ignores the fact that perhaps I have a need for the money or that these relatives may have simply squandered everything they've earned or lived well beyond their means, neither of which is my problem. I guess I don't consider me to be my brother's keeper, and as we've had considerable experience with DH's parents and siblings living well beyond their means and then expecting us to bail them out, it's one that I've had enough experience with to know how I feel.

My kids already know that we will provide them with a good education, and it is up to them to provide their own way in life. I expect them to be self-supporting, and I do not expect either of them to be expected to support the other.

Now I seriously doubt there is anyone who would agree with all of the above and I don't think there should be. But neither would I want someone else teaching my kids personal finance. I did make sure they all had excellent math skill and I know they can always calculate the results of their financial choices.

I'm sure that you'll be shocked when I say that I do agree with everything you've said, and I cannot imagine a financial magazine of any sort advising some of the things you've listed. Maybe that's why I don't bother reading many of them anymore, though.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


Post of the Day:
Macro Economics

Looking at Oil and Gas
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.