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Giving Your Kids An Easy Life Doesn’t Prepare Them For Real Life

Posted by James Hendrickson on Feb 6th, 2014 · 8 Comments

Giving Your Kids An Easy Life, preparing kids financially, teaching kids,

It’s natural for parents to want better for their children than they had themselves. But increasingly, “better” translates to easy, and while the two words may have some common ground, they actually mean very different things. In fact, it’s very possible for easy to make things worse, because easy doesn’t usually prepare a child for the real world. In the Book of Proverbs we read: It’s...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Giving Your Kids An Easy Life Doesn’t Prepare Them For Real Life

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