Well David, I am not sure if this is a success story yet or not, but I think we are well on our way to one!! I, myself, am disabled. I am engaged to a wonderful man who seems to be a workaholic! Between us we have 6 kids. I have a small retirement account from a previous job and that account is doing wonderfully. I learned from that account how easy it can be to save for our future. You see, David, here where we are in Maine, people dont seem to look ahead to retirement years, its just day to day living. I want MORE for my children and myself. When my fiance moved in with me recently we went through all our finances and decided that since he has no retirement plan at all, and he is 45 its TIME. I have all of your books and have strived very hard to make him excited about this! We are going to live exclusively on my disability check and take his check and start funding a Roth IRA as his job doesnt have 401k plans or any other plans. Along with fully funding that for the year we are also starting a health insurance and life insurance plan for him. Then, we will also start a mutual fund with the rest. In other words, his entire check is being directed for our retirement!
I have also been working HARD on our children and teaching them!! My oldest son is 21 and lives in the moment, so I think for now, he is hopeless!! But we work on him anyway!! His son will be 18 in two weeks and as his birthday gift we are starting his Roth IRA for him and he is so excited! He has just started a full time job and has done the math to figure out how much a week to withhold to finance it! He is also studying the stock market for more ideas! The next two are 15 and 14 year old girls. The older one is mine and is very excited. She has a summer job and I have agreed to match her dollar for dollar all that she puts in her IRA this summer! The 14 year old is his and is in the same boat as my oldest, although the same offer has been made to her as my daughter!
The youngest two are 7 and 6. They have been spending their days doing chores for allowance, 10% of which they save, 10% they tithe and the rest is theirs but they have their own “checkbook registers” that they account for every cent in. They are also researching (with our help!!) drip accounts and individual shares in Disney, McDonalds, Walmart and some others they are interested in. They also collect bottles and cans for return whenever we walk.
So what do you think, David? Are we on our way to a success here? I feel like we are, and want to thank you SOOOOOOOOO much! We are so looking forward to our retirement, buying an RV and hitting each and every state!
Oh, forgot to tell you, we have NO credit cards at all. I saved my money and paid cash for a trailer. So our bills are just about nothing! We do not recieve any state assistance, even though, being on disability I am qualified for it. We also do not recieve child support for any of the children. My ex is currently $10,000.00 delinquent, so if that were ever to materialize, it would be “found money” and invested for the children!!
PLEASE hurry and get your new book out, Start young, finish rich…your books are MY latte factor!!! Julie Reed