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College Education Or Entrepreneurship?

Generation X parents continue to face the challenging uphill climb of saving for their children’s college education.   For a Generation X couple that has their first child here in 2012, the cost for a private college at $50,000 a year will cost over $518,000 of total dollars at a 5% inflation rate.   As crazy as that sounds, a parent would have to save $1,085 per month in today’s dollars to be able to reach that goal.    For most parent’s the thought of saving this much money to pay for the cost of education for just ONE child can be downright daunting.  Many of us believe that the cost of college education cannot defy gravity forever, but to this point there has been no stopping the rising costs for a four year degree. During the formidable teenage years, many parents help guide their children toward getting excellent grades in school, playing some sort of athletic sports, and filling their resume with ...

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Should I Make A 13 Year Old Get A Job?

My oldest daughter is just about to turn 13, and I can’t believe she is a teenager already.   As I always have money and personal finances on my mind, I kept thinking SHOULD I MAKE MY 13 YEAR OLD GET A JOB?     When I was a kid growing up in New Jersey we raked lawns, shoveled snow, babysat, and walked the neighbor’s dogs.   Anything that it took to earn a few bucks so you could get that pack of baseball cards, new comic book, or save enough money to get a video game for your Atari system.  Certainly there is no game combat on your Wii gaming system today. In today’s culture kids have pretty unrealistic expectations about money and bills.  Pay for the $39 a month cell phone bill, get me an i pod so I can listen to the latest tunes, or give me $20 bucks so I can see a movie and get some popcorn with my ...

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