First off, glad you checked out clear and all's well, Kimbo.
You're one of the good ones and we're all happy that you're healthy.
(04-16-2014 10:03 PM)arrows80 Wrote: I gather there are some in their 20s that post here. You guys should buy life insurance TODAY, even if you're single and have no kids yet. Many people don't understand that it's a lot cheaper when you're younger. A 500k, 30 year term policy for someone 25 is less expensive than you might imagine. Pays off the house and sends Johnny and Sally to college if something horrible happens when you're 35. Get 25k burial policies on the kids while you're at it. A decent funeral runs about 12k these days.
No doubt. Only 28 but I intend to take out policies (term or whole - still TBD) on myself and the wife before kids come along. Talk with our insurance folks every year and, at this point, it's not costing me more by waiting since we're under 30 or 35.
In the meantime, we have universal policies that are dirt-cheap through my employer.
(04-16-2014 11:02 PM)Kimbosucks Wrote: I was dumb and grew up with money which is not the best way to learn about being wise with money. I have spent many years getting my family back into good financial terms. Someone who is dumb enough to run full speed down a football field and dive into 3 guys running at you full speed should not be allowed to have a credit card for a few years. Unfortunately my parents built up my credit for me so that I lots of free money to spend... didn't figure out for a while that it is not free money. Needs to be taught better in schools.
As I've undoubtedly said on here before...
I highly recommend anything and everything that revolves around
the Bogleheads' philosophy when it comes to personal finance and investing. Love
their book - great for beginners and still useful if you know your way around.
You're spot-on about financial education. My wife's an FCS teacher and has a class where she covers some of the basics. I know it varies from state to state, but it blows my mind that good financial knowledge isn't a HS graduation requirement in this day and age. Mismanage your credit and you're in a deep hole before you know what hit you.
I'm fortunate to always have been interested in and am responsible with this stuff. So I read all sorts of stuff, track everything, budget, etc. But I also realize that's not particularly common...