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My father has promised to start saving!

December 27th, 2008 at 06:21 am

To tell you the story, I have to provide a bit of a back story. I started learning about money about 2 years ago due to Suze Orman mostly, and trying to pass my knowledge along to others (sort of like a religion, lol). I've learned a ton from watching financial shows, reading books, and forums of course. Well, I guess some of this has gotten to my parent's heads because my dad found an ING brochure with a free $25 offer for starting a new account. He asked me if it was a good company and I told him all about ING.
As for my parents' background they are 57 and 48 and have no money saved. No savings account, 401k, nothin'. The 401k my dad had once was cashed out due to there not being a lot in it (?). So the reason I'm so happy is that it really was bothering me that they had nothing at all saved. If I said something, my dad would only get frustrated and say he didn't have a lot of money to save. It's true they don't have a lot of money, but even 25-50 a month would be a start! I just hope he keeps his word that he will continue to save money for them (my mom hasn't worked at an employed job for over 20 years.) Yay!

3 Responses to “My father has promised to start saving!”

  1. Amber Says:

    Good for them. I'm sure your parents will keep it up once they see their money grow and you encouraging them...awesome Big Grin

  2. Tijdzhania Says:

    That's great news. I have a similar situation with my parents, but my dad is now 65 and "retired". He has had to start up his own consultancy business and he is working on getting his first few jobs as his pension is not enough for my mum and him to live off. We live in Holland, so at least I know the government will help a little if they really get stuck, but it's not a nice position to be in.

  3. Jerry Says:

    Parents can change in this regard! My parents were pretty poor with money while I was growing up, and that would lead to a challenging childhood in that regard. Now, however, they have completely changed their financial lives and they are completely out of debt! I am really proud of them. They have health insurance through my mom's teaching pension, grow their own vegetables, and are living much more frugally than before. So it is never too late!
    Jerry

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