pretty much on the money about the baby boomers not saving much.For every one person trying to prepare for retirement I probably know ten who aren't-and that's probably a low figure.My son recently came into a fair amount of money.Before he could even think about a new s.u.v.(or in his world a new pickup)we got it all invested-the broker gave him one hell of a pep talk about investing.If he "stays the coarse" he will be thankfull down the road.
He is going to get taxed out the wazoo by our government as the save nots demand more of his "ill gotten" cash. Just because people are irresponsible and selfish doesn't mean they shouldn't live just as well as the next guy in retirement. Your son's savings will be needed to pay for an ever expanding universe of programs brought to you by compassionate liberals. Free prescription drugs is only the latest giveaway we can't afford, but what a great issue for Dick Gephart to demagogue. These are the facts of life you need toexplain to your son.
has their own opinion on matters of money.With this situation though he has a start that very few 19 yr. olds have.Just to clarify-I don't save every dime I make either.When he is done with his national VICA. competition it will be time to hit the work force.I told him to invest half and spend half on all the "toys" he wants.Then he can have his guns,fishing gear,suv,Lionel train collection etc.... like somebody he knows. By the way - if I had the power to change much of what goes on in politics I would.Have a good day.
I was sure that it was the republican party that has controlled both houses of Congress for the past 8 to 10 years or so. I have noticed that even when they have a cohort in the WH, they don't really move in the way of reform. Neither party does. They keep their powder dry and keep their baliwick happy. But what do we do? VOTE i guess. Only thing we can do. Throw the rascals out if they deserve it, reelect them if the do good. Remember, one mans pork is another mans feed. The hiway you may be driving on might just be the joke that your senator or congressman recieved in exchange for his/her vote on something.
Thats politics, as was and always will be. Just a note for vacation Tuesday. Doc from Michigan
Give him a look at a future value chart, and his eyes will bug out. He is on the right track. My father left me a decent piece of Iowa farm ground, and there is not the world's greatest return on farm land, but I love to go down there in the late summer afternoons and spray a few thistles, cut some weeds and walk around - last week I kicked three buck deer with large velvet hat racks out of the two acres of game reserve. Many of my friends cannot understand why I have not sold the land and "enjoy life" which to them means big boat, his and her snowmobiles, his and her motorcycles, a camping trailer and a four wheel drive pickup to pull it. Yep, enjoying it must mean spending it - especially on things that others also have. I manage to spend most of the rent income each year, but still find an extra sheckle or two to stick away in a stock from time to time - it is the consistency that seems to pay off best for this fellow. Keep your son on the straight and narrow!!! Good for you - and especially good for him as he ages.
Thats it in a nutshell. I speak to the young pups up here about the 401k that CSX has. The ownership of a home. Savings. I get that dull, toneless look of dread. I guess they want the "finer" things. I'd take 80 acres of farm here in Southern Michigan in a heartbeat over a new truck and the other toys.
Oh well, you can lead a horse to water. You sure can't make him surf! Doc from Michigan