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The money talk every parent should have with their college graduate – MarketWatch

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I was talking to someone about the commission at work.  They said that most people would rather get their 7% commission up front instead of getting 15% over 2 years.  That’s the short-term thinking that leads to perpetual poverty, because they gave up over a 100% return for just waiting 2 years.

Most people agree that a GREAT return on their investment is 100% in 6 years.

The more you think ahead in life, the better off you’ll be.  Think of where you will be in 30-40 years, instead of living in the moment.  Your moment will be gone forever, and you will eventually have to face your future.

Every dollar you spend now is $10 less you will have in 40 years, because instead of investing it, you traded it in for another good that will not appreciate in value.

 

Just before I came down to North Carolina for my youngest daughter’s college graduation this weekend, she asked me whether she needed to set aside a few minutes for “another one of those financial talks that you like so much at moments like this.”

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