Anonymous
05/23/2023 09:57
Subject: What was your luckiest financial endeavor or gift?
Anonymous wrote:My grandpa mentored an immigrant that he met by chance in the 1970s. The guy had no friends or family in the states, was homeless, and no job. My grandpa got him 2 jobs- one FT with benefits and a second after hours gig, invited him to all of the family holidays, set him up with housing assistance, would drop off meals and baked goods and garden veggies and flowers from my grandma.
The guy got prostate cancer about 10 years ago and towards the end him and grandpa spent a ton of time together. The guy never married or had kids. I guess at one point my grandpa mentioned that his (grandpa's) biggest regret in life is not accumulating enough to leave his grandkids anything in his will. The guy split his own will 6 ways among my cousins and I in honor of my grandpa. We each got a little over $50k.
My grandpa is still an 89yo cool dude, still living alone and mentoring, who my 3yo and 6yo daughters adore and ask to go see all the time.
Love this story. Your grandpa is good people.
Anonymous
05/23/2023 09:52
Subject: What was your luckiest financial endeavor or gift?
When I got into the Naval Academy, my parents began transferring my college fund to me, maxing out IRAs where we could and opening a brokerage account with the rest. It was about $100k in total, but socking that away from 18-22 is huge.
Anonymous
05/23/2023 09:48
Subject: What was your luckiest financial endeavor or gift?
My grandpa mentored an immigrant that he met by chance in the 1970s. The guy had no friends or family in the states, was homeless, and no job. My grandpa got him 2 jobs- one FT with benefits and a second after hours gig, invited him to all of the family holidays, set him up with housing assistance, would drop off meals and baked goods and garden veggies and flowers from my grandma.
The guy got prostate cancer about 10 years ago and towards the end him and grandpa spent a ton of time together. The guy never married or had kids. I guess at one point my grandpa mentioned that his (grandpa's) biggest regret in life is not accumulating enough to leave his grandkids anything in his will. The guy split his own will 6 ways among my cousins and I in honor of my grandpa. We each got a little over $50k.
My grandpa is still an 89yo cool dude, still living alone and mentoring, who my 3yo and 6yo daughters adore and ask to go see all the time.
The guy got prostate cancer about 10 years ago and towards the end him and grandpa spent a ton of time together. The guy never married or had kids. I guess at one point my grandpa mentioned that his (grandpa's) biggest regret in life is not accumulating enough to leave his grandkids anything in his will. The guy split his own will 6 ways among my cousins and I in honor of my grandpa. We each got a little over $50k.
My grandpa is still an 89yo cool dude, still living alone and mentoring, who my 3yo and 6yo daughters adore and ask to go see all the time.
Anonymous
05/22/2023 22:44
Subject: What was your luckiest financial endeavor or gift?
Similar timing to the PP above - graduated well before tuitions went crazy, so I had minimal debt.
IRS max in the 401k - gave myself a 6 month grace period on that as I settled into NYC/paid all kinds of broker fees for apartments etc. But from month 6 of my career onwards - it's always been the IRS max.
IRS max in the 401k - gave myself a 6 month grace period on that as I settled into NYC/paid all kinds of broker fees for apartments etc. But from month 6 of my career onwards - it's always been the IRS max.
Anonymous
05/22/2023 21:30
Subject: What was your luckiest financial endeavor or gift?
Parents paid for college. Thanks Mom & Dad.
Put the max into retirement from day 1.
Company was aquired and the new mega corp had a pension. $1.7M benefit that I didn't contribute to.
Inherited $1.3M.
Put the max into retirement from day 1.
Company was aquired and the new mega corp had a pension. $1.7M benefit that I didn't contribute to.
Inherited $1.3M.
Anonymous
05/22/2023 21:16
Subject: What was your luckiest financial endeavor or gift?
Anonymous wrote:Dad talked me into starting an IRA when I was 19. Put in the max every year. It was $2k at the beginning.
“The eighth wonder of the world is compound interest,” were his exact words at the time.
THANK YOU, DAD!
What a heartwarming story!
Anonymous
05/22/2023 21:15
Subject: What was your luckiest financial endeavor or gift?
I was the beneficiary of a 50k policy of a non-family member who died suddenly/unexpectedly. It got me out of debt, and I invested the rest of the money, which has grown over the years.
Anonymous
05/22/2023 19:49
Subject: What was your luckiest financial endeavor or gift?
About 23 years ago, bought 200 apple shares @ about $26/share on a whim.. Unfortunately sold 50 of them a few years later but the remaining with DRIP is now about 9000 shares. Dividends each year are more than my original cost.
Anonymous
05/22/2023 19:20
Subject: What was your luckiest financial endeavor or gift?
Anonymous wrote:Did you receive a nice inheritance? Did you t start a business and it took off?
Hard work and savings by frugality. No freebies for us. We actually paid for living, healthcare, travel, aids of his parents and education plus part of wedding expenses for his siblings.
Anonymous
05/22/2023 19:07
Subject: What was your luckiest financial endeavor or gift?
Dad talked me into starting an IRA when I was 19. Put in the max every year. It was $2k at the beginning.
“The eighth wonder of the world is compound interest,” were his exact words at the time.
THANK YOU, DAD!
“The eighth wonder of the world is compound interest,” were his exact words at the time.
THANK YOU, DAD!
Anonymous
05/22/2023 18:01
Subject: Re:What was your luckiest financial endeavor or gift?
Won a $5000 scholarship through my dad’s union for freshman year of college. I applied for it at the beginning of June of 12th grade & found out I’d gotten it by the end of that month. I wasn’t getting any need-based FA, so no issues there.
Anonymous
05/22/2023 17:56
Subject: What was your luckiest financial endeavor or gift?
Not that crazy but bought my first home at a younger age than normal right before covid hit, I was really stretching at the time to get the down payment money together and almost didn't go through with it, but SUPER glad I did - the same home would have 2x the monthly payment if I had waited until now to buy. Now am locked in at rate barely above 2%
Anonymous
05/22/2023 17:38
Subject: What was your luckiest financial endeavor or gift?
Marrying well. Sometimes a man IS a plan, ladies.
Anonymous
05/22/2023 17:38
Subject: What was your luckiest financial endeavor or gift?
Anonymous wrote:I applied for the covid rent relief as I was laid off and lived rent free for about 7 months. Wasn’t smart enough to make it 18 months.
I also received the unemployment benefits which were almost equal to my salary for 6 months and then about 50% of it for 6 more months.
I regret not traveling more on the cheap back then, but I have saved up some money for sure.
Unfortunately my meager investments weren’t that successful and I lost some in divorce too.
To clarify, I didn’t just not pay, but my management company received money from the state
Anonymous
05/22/2023 17:37
Subject: What was your luckiest financial endeavor or gift?
I applied for the covid rent relief as I was laid off and lived rent free for about 7 months. Wasn’t smart enough to make it 18 months.
I also received the unemployment benefits which were almost equal to my salary for 6 months and then about 50% of it for 6 more months.
I regret not traveling more on the cheap back then, but I have saved up some money for sure.
Unfortunately my meager investments weren’t that successful and I lost some in divorce too.
I also received the unemployment benefits which were almost equal to my salary for 6 months and then about 50% of it for 6 more months.
I regret not traveling more on the cheap back then, but I have saved up some money for sure.
Unfortunately my meager investments weren’t that successful and I lost some in divorce too.