Hello, money nerds, and greetings from Harstad, Norway. My arctic journey continues as my ship creeps farther north. While I’m “enjoying” winter-like weather, I’ve gathered this batch of money stories for you.
“Three ways I’m teaching my son about money. [Rich & Regular] — “Our son obviously doesn’t understand everything about money, but he’s already made the connection between saving money and delayed gratification. He knows that in our family, we value experiences over things. And he knows investing money makes his balance grow as sure as he understands healthy food choices makes his body grow.”
What do grown children owe their parents? [Fatherly] — “With more independence and fewer expectations, what we owe our parents or our children’s grandparents is now calculated in man-hours and long-term investments. Do we owe them a call? Do we owe them Thanksgiving? Do we owe them weekends? Do we owe them end of life care? Do we owe them financial support? Do we owe them grandchildren? Or do we owe them nothing?”
The high price of procrastination. [Financial Success, M.D.] — “Sometimes it is the fear of making a wrong decision, or a less than perfect decision, that stops us in our tracks. But what we don’t see at the moment is how much money or time it will cost by not acting now. Everything has a price and procrastination can often be very expensive as I am learning first hand almost daily.”
Get rich holistically. [The Escape Artist] — “Why is it so hard to build wealth and get life we want? Because mastering each of the pillars can be hard and because balancing them all is hard. The journey involves not just hard work and learning…but also self-awareness. We need self-awareness to avoid falling into common traps such as procrastination, burnout, workaholism and career blow up.”
Tomorrow, you’ll get some stories from our friends at the Plutus Foundation. I’ll be back on Thursday with more stuff for you.