We’re big advocates for (and providers of) formal financial education. Classes, books, blogs, and podcasts all offer great opportunities to learn about how to make, save, grow and spend your money. We don’t think anyone should ever stop learning. We also know that we learn some of the most important lessons before we even leave our childhood homes. In honor of Father’s Day, here are some of the lessons our staff has learned from their dads: Kris Kersten To put money aside every month in a different account for Christmas, a car or a vacation, so you have it available when you are ready to use it and not go in debt! Tanya Winch Pay your bills on time; under almost all circumstances, do not purchase property with an ARM loan; be curious and aware of Uncle Sam’s tax rules; find work you love and/or learn to like the work you are given and, most importantly, be a conscientious & good steward of all you are blessed with. Sam Winch Spend less than you make. Christian Peterson When I was just out of college my father said to me, “Start now saving 10% of your salary and you will retire a millionaire.” (and a million dollars back then was a lot more money than it is now!) Sandy Shultz My dad always had another job in addition to his full-time job teaching…he saved that money he made from his part-time gigs to pay extra money on the mortgage and would use it for fun things (vacation, boat, etc). He still calls it his “left pocket money!” Beth Gorr Always have a safety net of a few months of bills – you never know when you are going to need it. No one can take away what you put upstairs. And don’t put off what you can do today to tomorrow. Matt Weyers No one can take away what you put… | Read More »
Father’s Day
Dear Dad
Dear Dad, It has been an especially challenging though hopefully gratifying year for you. You’ve seen your likelihood threatened and your home life redefined. Many of you, with neither training nor forewarning, added teacher to your resume, though this had never been your goal. Others worked as sous and/or head chefs, gamely developing kitchen skill sets you never imagined you’d need when your family’s favorite restaurant food became inaccessible. Most have worked from home for a period of time, attended meetings amidst the chaos of family life and navigated rough water as your two separate worlds unexpectedly collided. Or, you’ve been furloughed and had to apply for unemployment benefits, possibly for the first time in a long and successful career. Plato (and a lot of people after him) said necessity is the mother of invention. It’s the father of invention too, as we’ve seen this year. All over the world, fathers have risen to the challenge of this global pandemic and its unsettling wake. Maybe you feel a little nervous about your financial future, or discombobulated by this rapidly changing world. Or you’ve engaged in difficult discussions with family members and had your belief system challenged. Maybe even, through your own introspection, you’ve recognized some shortcomings and grown. In any or all of these cases, we salute you, we stand with you and we’re here for you should you need our help or guidance. You’ve made an impact on your family and the world. We know we’re just a little over halfway through one of the most challenging years in history and we all still have a lot of work to do. But, we hope all of you Dads, Daddies, Grandpas and Gramps, take at least one day to recognize how far you’ve come and then, as one of our favorite quarterbacks once said, “Relax!” Happy Father’s Day from all of us at Winch Financial.