I remember being very young, before working age, and I want to buy a t -shirt in the target. I asked my dad if I could get it. He reminded me that I had money from my birthday that I could use to spend on myself. At that time, this message of money was a strengthening for me. If I had money I could use it in whatever I wanted. But I also understand this memory, as my parents are only able to meet the needs of the family and anything that will not suit the biggest picture of the money. Most of what I learned about money from my parents observed how money was handled, the way they talked about it and the way they emphasized it. The lessons were never through direct conversation. The money was something he won, spent on accounts, and saved if you had it to save. I have concluded that we were not well, but we could survive and live a little out of us. My parents fought and worried about money, but there were also gifts at Christmas and birthday. I got the story that you had to be well educated to get a job on something like an accounting or funding that offered work insurance. Otherwise, it seemed, you struggled for money in bad work with a bad boss. My current financial knowledge has been self -taught in recent years listening to podcasts, reading books and through trials and errors. It may be scary to save, invest and put money away when you feel you are not doing much yet. However, even the smaller amounts are added to be many. Money decisions become more comfortable. I have a loose budget. I have specific percentages of my income from every paycheck. My income is variable and these percentages are useful for automatic-save, automatic investment and creating systems for myself to keep my finances under control. I learn more about the role that money plays in my life and how finances add to my quality of life.
What was your first job and why did you get it?
I worked in a sandwich store I just turned 15. I worked there every time I had the time until I got my first postgraduate work: during the school year, after sports and time between sports seasons, during the winter and summer break. It was my second home. I even worked on Saturdays when I became an accountant until it hit the busy season. My parents wanted to work and make money, but I also wanted to work and make money. My parents needed my brothers and I to work during the summer, but I was the one who wanted to work every opportunity I got.
Are you worried about the money that is growing up?
I was worried about the money. I got the savings very seriously. Each time in a moment, I will spend money at the shopping mall on clothing or concert tickets. I wanted to be the kid that my parents shouldn’t have been worried. Both were seriously ill in my teens and felt important to withstand my life, getting a less concern than their plate. My mom ended up dying during the highest year of my high school. And my dad ended up dying when I was in college. I have come to recognize parents and family family can be an extension of your own finances and economic well -being, and I no longer have it scary when I was 21 and still makes me anxious now.
Are you worried about money now?
I am more worried about my career than the money, even though they go together. Living in all my twenties, I have experienced many ups and downs in my finances and exploring my work. I believe that I am more than capable of going through difficult personal financial times and I am sure I am responsible for investing for my retirement. But sometimes my concern turns into a panic about my potential and what are my long -term goals with money and career. My greatest concern surrounds the balance between the responsible investment for long -term goals and the experience of part of life in the present. I have been released in times when I let my savings be reduced to live my life in the present and then having periods of restriction of myself by spending at all. I want to find the right balance that prepares me for the future, but also maximizes my happiness right now.
At what age became financially responsible for yourself and have a financial security net?
I would say that I was partly financially responsible for myself when I was 16 or 17 years old. This was around the time my mom was sick and died. If I wanted something I had to buy it. Then I pay a little bit for all my expenses since I left for college. I have been officially alone since we sold our family home after my dad is passing. I realize that this hereditary income is the reason why my long -term investment is where it is today.
Have you ever received passive or hereditary income? If yes, explain.
I have received inherited income. When my dad died, his finances were placed in a property account and his retirement portfolio was divided between my brothers and me. The estate was used for our general accounts that lived in our home until we graduated from college. Almost immediately after our graduates, we sold our family home and everyone was removed. The amount from the estate, the retirement account and the sale of the house probably amounted to about $ 110,000 hereditary income. We fully paid my undergraduate student loans: $ 26,000. I put $ 12,000 for opening and investing in my first Roth IRA. I put $ 10,000 down in a new car. I transferred my inherited retirement account to my non -retirement investment account: $ 30,000. Early retirement portfolio and taxes paid as income: $ 15,000. The remaining $ 17,000 that I cannot understand specifically have probably been used over the years in the following years: 1) Moving the cost for three large moves 2) the repayment of my rest of my car ($ 10,000) 3) a three -week trip I took to visit eight).
