Bob is my Dad. He taught me how to wash a car, change a tire, pound nails, and make homemade wine. Yet one of the best things he taught were his no-nonsense lessons about money management. I never knew he was teaching me stuff. He probably didn’t even do it intentionally. It was just his practical way of doing what he did while he brought me along with him.
He was born in 1929, the year the Great Depression started. Just before the Great Recession hit in 2008, he had a million dollars in just his IRA fund. My parents lived like Warren Buffet, in an older house in a quiet suburb. Even though they worked as school teachers and saved part of their salaries for retirement, they still took us on many great vacations.
Dad saved his money, invested it wisely, shopped when things were on sale, and rarely bought things on credit. He showed me that if you took care of your money, you could still live comfortably, travel, and enjoy a few big toys. Using your money wisely does not mean you go without the good stuff. It means you can live without anxiety when you pay bills or something needs to be repaired.