tag:blogger.com,1999:blog-1506787397667433438.post885331826661339636..comments2023-12-26T23:55:15.983-08:00Comments on Family Finance Favs: Teach Your Kids What You Wish Your Parents Had Taught You About MoneyBill Dwighthttp://www.blogger.com/profile/18111536057225186993noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1506787397667433438.post-32617901803810802312016-09-26T11:10:07.696-07:002016-09-26T11:10:07.696-07:00Doug, thank you for stopping by and for the kind c...Doug, thank you for stopping by and for the kind comments. Yes, JLCollinsNH is a personal favorite too! That post is one of the first I read. Love his stock series as well: http://jlcollinsnh.com/stock-series/<br /><br />He really changed my thinking on investing, and I'm a huge VTSAX/VTI fan now. All my kids hold Vanguard index funds in their "Family 401k" Roth IRA accounts:<br />http://blog.famzoo.com/2011/04/pave-road-to-retirement-for-your.htmlBill Dwighthttps://www.blogger.com/profile/18111536057225186993noreply@blogger.comtag:blogger.com,1999:blog-1506787397667433438.post-76433527365996453242016-09-26T08:55:57.029-07:002016-09-26T08:55:57.029-07:00A great discussion... I am enjoying your blog post...A great discussion... I am enjoying your blog posts as I have two young ones at home. Here are a few tips from one of my other favorite bloggers, JLCollinsNH. <br /><br />The simple path to wealth<br /><br />It starts with nine basics. She doesn’t have to read any further than these to make it work. Just do it.<br />1. Avoid fiscally irresponsible people. Never marry one or otherwise give him access to your money.<br />2.Avoid money managers. It’s your money and no one will care for it better than you.<br />3.Avoid debt.<br />4.Save a portion of every dollar you get.<br />5.The greater the percent of your income you save and invest, the sooner you’ll have F-You money. Try 50%. With no debt, this perfectly doable.<br />6.Put this money in the Vanguard Total Stock Market Index Fund (VTSAX) This is the fund you already own, so just keep adding to it.<br />7.Realize the market and the value of your shares will sometimes drop dramatically. People all around you will panic. They’ll be screaming Sell, Sell, Sell. Ignore this. Even better: Buy more shares.<br />8.When you can live off the dividends VTSAX provides you are financially free.<br />9.The less you need, the more free you are.<br /><br />The entire post, including great discussion in the comments, can be found here: http://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/<br />Doug Provinshttps://www.blogger.com/profile/17028963957503880858noreply@blogger.com