A Smart Financial Future...
Luckily for me, I've always surrounded myself with smart people... well, most of the time. At least I try to listen to advise from those that are smarter, more experienced, and much better informed. Some of the best advise I've ever heard, came from a bar guest at my restaurant. I heard him tell a friend in his best southern accent, "You're never gonna make any money workin'." He's right.
How many people do you know work their ass off every day and bring home a descent living? They can afford their mortgage, their car or two, they have nice things, and they enjoy many of the extras life has to offer. But how much of the money is theirs? Is it borrowed? Do they have savings, or some form of a nest egg to fall back on? Maybe they do, but then again, maybe they don't. I'm 24 years old. These are life-altering decisions that no one has prepared me for.
Am I concerned? Well, before I can answer that, I have to put things into perspective. Pay attention to politics? Your social security is disappearing. So far, I have no way to retire. The cost of medical insurance is getting ridiculous, and it's becoming more and more difficult to find employers that offer plans for their employees. Tuition for colleges and universities are about to raise to unbelievable levels, while funding from the states are being cut. Also, student loans and grants are disappearing.
So let's see where we are: since I've got (or are currently getting) a college education, a nice job will come, but what are the circumstances? Medical care may not be there, and even if it is, I'll be paying costs through the roof. My kids won't be able to afford to go to college, since tuition will be so high and therefore, won't get an education. Because there's no social security, I can't retire, but neither can my parents. So where does that leave us? One happy, broken home. My wife and me, my parents, and my kids, all living in the same house, without medical insurance, without social security, still working 9-5 late in life, and trying to pay off debt that I accumulated through my student loans.
So how do I stop this scenario?
I've got to find some way to not rely on the governments programs, rather it be social programs such as social security, or our wonderful program we know as Medicare. Either investing in real estate, stocks, getting a 401(k), Roth IRA's... something. But, like I said earlier, they didn't teach you about this in school, but then again, it's not their responsibility.
How many people do you know work their ass off every day and bring home a descent living? They can afford their mortgage, their car or two, they have nice things, and they enjoy many of the extras life has to offer. But how much of the money is theirs? Is it borrowed? Do they have savings, or some form of a nest egg to fall back on? Maybe they do, but then again, maybe they don't. I'm 24 years old. These are life-altering decisions that no one has prepared me for.
Am I concerned? Well, before I can answer that, I have to put things into perspective. Pay attention to politics? Your social security is disappearing. So far, I have no way to retire. The cost of medical insurance is getting ridiculous, and it's becoming more and more difficult to find employers that offer plans for their employees. Tuition for colleges and universities are about to raise to unbelievable levels, while funding from the states are being cut. Also, student loans and grants are disappearing.
So let's see where we are: since I've got (or are currently getting) a college education, a nice job will come, but what are the circumstances? Medical care may not be there, and even if it is, I'll be paying costs through the roof. My kids won't be able to afford to go to college, since tuition will be so high and therefore, won't get an education. Because there's no social security, I can't retire, but neither can my parents. So where does that leave us? One happy, broken home. My wife and me, my parents, and my kids, all living in the same house, without medical insurance, without social security, still working 9-5 late in life, and trying to pay off debt that I accumulated through my student loans.
So how do I stop this scenario?
I've got to find some way to not rely on the governments programs, rather it be social programs such as social security, or our wonderful program we know as Medicare. Either investing in real estate, stocks, getting a 401(k), Roth IRA's... something. But, like I said earlier, they didn't teach you about this in school, but then again, it's not their responsibility.
Labels: Money
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