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Brown Cafe UPS Forum
UPS Retirement Topics
Contributing to your 401k and taxes
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<blockquote data-quote="Ms.PacMan" data-source="post: 2558067" data-attributes="member: 4656"><p>My dad talked the talk about saving but didn't walk the walk and despite making an above avg. income my parents lived paycheck to paycheck. Payday meant eating out or take out followed by my mom shopping all weekend, bills, groceries. Hearing we don't have money the second week and then finally scrounging for money to buy a gallon of milk the day before payday - only to do it all over again. I hated it as a child. </p><p></p><p>I don't know if high schoolers would get a lot out of a finance class but just covering the basics of what to expect when you get a job would help (401k) along with a warning that the banks are not your friend and will lend you more money than you might be able to afford would help. </p><p></p><p>I talked to my child about money his whole life but even at 25 he thinks I have a fortune saved and doesn't quite get that it has to last my whole retirement which may include catastrophic illness or nursing home care.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 2558067, member: 4656"] My dad talked the talk about saving but didn't walk the walk and despite making an above avg. income my parents lived paycheck to paycheck. Payday meant eating out or take out followed by my mom shopping all weekend, bills, groceries. Hearing we don't have money the second week and then finally scrounging for money to buy a gallon of milk the day before payday - only to do it all over again. I hated it as a child. I don't know if high schoolers would get a lot out of a finance class but just covering the basics of what to expect when you get a job would help (401k) along with a warning that the banks are not your friend and will lend you more money than you might be able to afford would help. I talked to my child about money his whole life but even at 25 he thinks I have a fortune saved and doesn't quite get that it has to last my whole retirement which may include catastrophic illness or nursing home care. [/QUOTE]
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