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Getting Personal
Getting Personal
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I am a 34 year old responsible, working adult and very much disagreed with the advice of your guest regarding the mother who called in trying to get information to help her son save for retirement while he is working overseas. The idea that because someone turns 18, they will necessarily think about important things like retirement and have all the knowledge needed to save correctly is flatly wrong. I think the key is that parents take the role of suggesting and informing rather than nagging and demanding. As long as there is a tone of respect and the freedom for children to make the ultimate decision, a little help here and there is very welcome!
I am the mother of two early 20-something's in the Army. They were both deployed to Iraq the year before last and while they were on leave, I talked them into setting up a Roth IRA while they had so much disposable income available. One of them has since, on his own, set up a TSP account and is having money taken out of his pay to grow it. The other one has not, but is aware that the earlier he does something, the better. So I'm all for parents pushing saving on their children, but there needs to be a point where they step back and let their children make their own choices.
