Lessons I learned from my father

A few nights ago, when my dad and I were watching CNBC together, I made some comment about stocks to him. My mom, walking by, blurted out, “Boy, you are just like your father.”

And, at least when it comes to finances, that’s probably the best compliment she could give me.

He’s the most successful, humble, financially savy person I know. So in honor of Father’s Day, here are a list of six money-related things my dad has taught me:

1. College is worth its tuition.
No one was more excited when I got into grad school, even though he’d be the one largely footing the bill. Convinced that this degree would change my job prospects, Dad’s been my biggest cheerleader and proudest friend. And, by the way, turns out he was right about the job stuff.

2. Hard work pays off.
A business-owner, Dad has a master’s in English Literature and was a college professor before he moved to America, worked as a grocery-cart pusher and janitor, married my mom and started this company. When I was growing up, he worked most nights, but now he really reaps the benefits: a completely flexible schedule allowing him to sleep in sometimes and go on vacation any time he wants.

3. Invest young.
He started a stock portfolio for me when I was a sophomore in college, when I had no idea what he was doing. His $7,000, coupled with the thousands I’ve added since, is up to $28K now, just a few years later. Lesson learned, Dad.

4. Help people when you can.
If you need a job, an apartment, advice… Dad will help you. He seriously, genuinely cares about whatever struggle you’re dealing with, and he’ll go out of his way to connect you with someone who can help, to put in a good word for you somewhere. Example: a guy at our insurance office is making barely $1000/month in his sales-based job, and now he’s going to have to quit and move home because he can’t afford his apartment. Dad is talking to the guy’s bosses, campaigning for a raise or way to help. He gains nothing, but he believes in helping.

5. Manipulate the system.
He bought my brother a car, at a special 0%APR two or so years ago. This way, Brother used the car for, I think, twelve months before anyone paid a dime. No interest, Dad said, so why not use their money.

6. Do something you love.
This has haunted me sometimes, when I was editing in a cubicle and when I was cold-calling as a temp. I know how happy I could be; Dad showed me firsthand.

Filed under a deeper look at life, thrifty tips |