Weekly list of curated personal finance articles from around the web.
How teens can turn a summer job into an extra $500,000 in savings when they’re older (MarketWatch). It’s so important to help kids develop the habits of giving, saving, and investing so they can make the most of the asset they have in abundance—time.
Young people like stocks (A Wealth of Common Sense). It’s good news that many young people are discovering the benefits of a Roth IRA.
A 5-point checklist for managing your aging parents’ money (NY Times via Archive.today). If your parents are still alive, here’s a roadmap for territory that can be tough to navigate.
Americans are keeping their cars longer than ever—and remaking the auto industry (Wall Street Journal). More people are discovering that if you just keep up with basic maintenance, cars will last a long time.
Common mistakes that derail generational wealth transfer (Due). When a family succeeds, it’s surprisingly uncommon to keep things going in future generations. Here are some ideas for defying the odds.
Spousal IRAs: A quick check (Modera Wealth Management). If you are a one-income household, you can still be a two-IRA household.
My 20-year-old son wanted his first credit card. I told him to skip most of the advice online and do this instead. (MarketWatch). I like the idea of teaching kids how to use credit cards responsibly—first as an authorized user and then, when they’re old enough, with their own credit card.
Get a raise last year? Choose savings inflation and not lifestyle inflation (MoneyNing). I like that — “savings inflation”.
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