Share this Page URL

Chapter 4. Your Best Chance at Retiremen... > Individual Responsibility - Pg. 39

Your Best Chance at Retirement Is Your 401(k) 39 Individual Responsibility Who taught you about managing your money? Tough question! Your answer is probably, "I'm not sure." Many studies have confirmed that most of us are completely in the dark when it comes to saving and investing. In fact, many of us would take someone else's advice on investing our money before we'd take our own. Scary, isn't it? One thing we know for sure: Money doesn't grow on trees. For ages, parents have passed this sage advice along to their children. Your parents probably reminded you of that fact on at least a few occasions. If you have kids, you've probably spoken these words yourself. But what else do we know about money? As we left childhood behind, who taught us about money and the importance of saving? Who taught us about investing? Most parents didn't. Most schools didn't. Religion doesn't. There are certainly a lot of books that preach the gospel of saving and investing, but how many of us have read enough of those books to know what we need to know? The simple truth--and if it's a bitter pill to swallow, then so be it--is that each of us is responsible for our own financial future. Our parents aren't responsible for our retirement; neither is our boss. Not our company. Not our God (and we don't mean the lottery god). Certainly not our government. Warning!