Lainey

Over the years, parents give lots of advice. We as young adults, often ignore most of it. As we mature, we realize our parents might have known more than we thought.

In my mid-20's IRAs were just being introduced. I remember my future mother in law showing me a paper telling us if we each saved 2K/year, we could have "X" $ down the line.

We didn't take that advice...at the time. In our defense we were concentrating on saving a down payment for a house, AND going on vacation every other year.

Now, had we listened to my sweet mother in law, maybe we'd be able to retire at 80 instead of 85.

So what advice did you not heed that you should have?

PanteraKitty

Never invest in anything that eats or needs painting.

Kyras

I don't think my parent's gave me any advice.

Jumpy Guy

Stay in college.

boltonblue

Obviously I must have ignored all of it because I don't remember them giving me any.

My 19 year old seems to be wholeheartedly embracing this model as well.
Perhaps I should keep a log and submit to him when he's 25 and I'm not as stupid.

RC - Ryder

Frankly, my parents were good people living in small town America, who like many of their friends, neighbors, and coworkers, consistently thought small. They believed in cash instead of credit, saving at every turn, paying off their house soonest, ultra conservative investments, buy only when you can pay for it, don't dream or keep up with the Jones', cheap hobbies and entertainment, invest in poor return life insurance, avoid doctors but have health insurance, etc.
They offered almost no useful advice to me, but they did shape my values and judgement. They did tell me not to get married each time. They cut me loose at age 18 in no uncertain terms. I made my own long-term decisions, and charted a different course based on calculated risks, which fortunately served me well.

Lainey

Actually, my parents never gave much actual advice, but we did learn about "living within your means." Keeping up with the Jones' was never an option and they did not even try.

Rick's parents were solid, salt of the earth folks too. I'm sure we both learned from how our parents lived which has served us well.

I can say that neither set of parents stuck their noses in our business. We lived right next door to Rick's parents for almost seven years and that was never a problem. If they thought we were doing something wrong, they kept it to themselves.

raymo19

"Stop smoking that sh_t! It's making you stupid!"

Lainey

Have you heeded that advice yet?

raymo19

I suppose so - but it's primarily because I can't remember where I put my stash.