Is Having Children a Good Retirement Plan?

No wonder we only have a couple of kids, rather than 10 or 12. 

 

Perhaps most people live in traditional societies, where agriculture is the main occupation and your retirement plan is your kids.  You take care of them when you’re young and then when you’re old, they take care of you.  And so it goes from generation to generation. 

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A College Education is a Risky Investment

College is a risky investment, but you may be able to get a lot more out of living as a college graduate than if you didn’t have a college degree.

The return on an investment in education for an individual is highly variable.  If you look at high school graduates, college graduates, is there a significant difference in income, on average?  The answer is yes.  Significant.  The problem, however, is that the variability around that is huge. 

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The Mantra of the Whole Investment Industry is Simply Not True

The mantra of the whole investment industry is simply not true. 

There is an awful lot of bad financial advice out there, provided by professionals.  I don't mean advice like stay out of debt, start saving early, make a budget. That's like motherhood and apple pie. Who could disagree with that? 

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You're Not Good with Numbers. You Can Still Be Good with Money

So, you’re not good with numbers.  Well, welcome to the crowd. There are many, many, many people who are not.

So, you’re not good with numbers.  Well, welcome to the crowd. There are many, many, many people who are not.  And even the ones who are good with numbers, aren’t good about budgeting, because that takes not just the skill with numbers, that takes a certain amount of self-control.

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