Yes. It was always expected that my brothers and would go to college or commercial school. I attended a university in the state and my parents paid for all my expenses. My husband M. went to the same college and paid for his training through scholarships, jobs and with little help from his parents.
Growing up, what kind of conversations did you have for the money? Does your parents train you on finances?
My parents had many conversations with my brothers and me to save money, life, investment and retirement planning. My parents really emphasized good money management habits. As soon as I got my first job I started contributing to my Roth IRA.
What was your first job and why did you get it?
My first job (except for local families with my sisters) was as a farmer in a supermarket. I got the job to save money. I was 17 years old and I wanted to have some personal savings before going to college. My parents also encouraged me to find the job so that I could contribute to a Roth IRA and so that I can gain work experience.
Are you worried about the money that is growing up?
No, I always felt very economically safe.
Are you worried about money now?
No, I think we are in a good place with our finances and I know we live fat.
At what age became financially responsible for yourself and have a financial security net?
M. and I got married a few months after my college graduation, so I never lived in an apartment alone or I had to support myself with my own income. I guess I would say that I was financially responsible since I graduated from college, but lived with my parents until I got married.
Have you ever received passive or hereditary income? If yes, explain.
My parents fully paid my college and helped me buy my car. M.’s parents helped him with some college expenses and also helped him buy his truck. My grandparents greatly contributed to my Roth IRA (I don’t know the exact amount) I had once earned the income as a teenager and also gave me the majority of what is in our account over the years. M.’s grandparents have created confidence for each of their grandchildren, so my husband will receive $ 200,000 from it at some point, but not until his parents pass. So let’s hope we are very much in retirement before we have access to it.
