Are You Destined to Follow in Your Parents’ Footsteps?

Hero

I launched FinanceSuperhero in April 2016 to help others save money, get out of debt, earn more money, and live the best life possible. Send me an e-mail or a comment if I can help you in your journey. Thanks for reading!

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10 Responses

  1. We have made more money in our careers that my parents did, but they were also good with their money. Our son, who is 19, seems to be very frugal with his spending and very interested in personal-finance. Like father, like son. I am not sure how ambitious he is in earning money – Seems to have the millennial philosophy that life comes before earning money.

    • Hero says:

      Ah, that wonderful millennial philosophy sinks its teeth into other victim, I see. With any luck, frugality will win out and your son will be parading you around on his private yacht one day, Mr. Firestation! 🙂

  2. I think all four actionable tips are very pertinent, and for me personally, it is timely advice as I am becoming a first time parent this summer. I think especially getting to know your kids, and encouraging them them dare to do and fail, often, and spectacularly, is often overlooked in traditional parenting advice. The sooner the tiny humans learn that failing is nothing but an opportunity to learn, they can start doing all the different things they want to do!

  3. Parents are their children’s biggest example, so its tough not to follow in there foot steps in some way. I recall my dad having an incredible work ethic when I was young.

    We are trying to do more for our three children today to make sure they understand that their are many paths that they can take in life. Educating them about many topics so they can choose what will be best for them as individuals.

    • Totally agree with Brian here. My parents had an amazing work ethic and they definitely modeled the right way to manage money. We are trying to show our kids that they need to plan far ahead and save, as well as budget. It doesn’t take long for them to get in debt – and fast, with a few bad decisions. Great points here, Hero.

      • Hero says:

        Surely the MSD kids will be great decision-makers. I’m looking forward to reading about your son’s college choice and the financial ramifications.

    • Hero says:

      That’s an important distinction that you and your wife are making with your kids, Brian. Work ethic is unquestionably important, but the broad lessons you are instilling will be foundational for your kids.

  4. Thanks for the insight into the FSH psych. It’s always interesting to know what maketh the man and I can see that your parents were a huge influence in getting you where you are now. Although my upbringing was also solidly middle class like yours, I know that my parents where not as money savvy as they could have been. It’s not that they were spenders or flippant with their money, it’s just that they followed a very traditional route in keeping savings in the bank because it’s “safe”, and not considering investing as a means of financial growth. As a result, they have always had to work even well into their 60s. I realised early on that there were other ways to make a buck or two by making the dollars do the work for me. Not that I’ve been shy of work, I have just seen the light when it comes to investing versus spending. And as a result, that’s got me where I am today….retired early. Do we always want to follow in our parent’s footsteps? Yes and no. Follow the best bits but don’t be afraid to follow your own ideas too.

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