For many of us, grandparents are the best representation of affection and tenderness. His memory reminds us of childhood moments full of joy and games. But, to be honest, his presence has left us more than just smiles and beautiful memories. The way our grandparents managed their finances from their youth to adulthood is a true life lesson for all of us.
Making a small tribute to all the grandparents in their day, we recapitulate the main teachings they have left us:
Think about the future.
The way our grandparents live their retirement speaks a lot about the decisions they made in their youth. This teaches us the importance of starting to save for retirement in advance.
Invest in health.
Health is one of the most underrated assets by young people. If you want to enjoy your senior stage with a good quality of life, you should start taking care of your diet and exercise now. What you do today will save you a lot of trouble (and bills) tomorrow.
Build your heritage.
Having your own home is not about fulfilling materialistic ambitions, but about ensuring stability for the future.
The investments you make in your youth can be reflected in a comfortable and calm old age.
Invest in the studies.
Many of our grandparents did not have the opportunity to study, but they struggled so that their children could prepare because they knew that a vocational training could open more doors for them.
Do not depend on anyone else.
If you don’t like to depend on anyone now, what makes you think you’ll enjoy it when you’re an older adult?
Start taking responsibility for your decisions from today and build the future you want to live in a few years.
Think of the worst case scenario.
In terms of finances, it is always preferable to prepare for the worst situations. Keep in mind that prevention measures will always be simpler and cheaper than solution measures.
Consider that priorities change.
A person’s dreams, ambitions and goals evolve as the years go by. It is not the same what you want at 20 than at 40 or 60 years. Take this into account before making long-term commitments.
Choose your debts well.
It is not bad to have debts, the problem is not knowing how to choose them correctly.
Borrow-free loans may seem like a simple solution to an emergency, but they probably end up plunging you into a bigger debt destabilizing your finances for several months.
Keep your papers in order.
Nobody likes to talk about life insurance or wills, but the reality is that sooner or later we will have to face these situations, and it is preferable to do so with as much information as possible. If you don’t want to leave problems with your family, organize everything at once.