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Parental Advice (lemmy.zip)

submitted 8 months ago* (last edited 8 months ago) by [email protected] to c/[email protected]

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What is a good piece of advice from your parents or that you’ve learned that others may not know or that you wish you were told as a child/teen?

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[–] [email protected] 6 points 8 months ago (1 children)

Yes. “Put your money here, it will be there when you’re old—we promise.” Is a ridiculous plan.

[–] [email protected] 3 points 8 months ago

You get to choose how your 401k is invested, though. The only difference is a tax advantage.

The advice is just: save money, let it grow using compound interest, use tax laws to your advantage.

There's no "trust the government" in that advice.