Between wonderful vacationing in Northern California and celebrating my parents’ 55^th Wedding Anniversary and 75^th Birthdays, watching the Olympics (and helping people “Go For The Gold!”) and Back to School, I can’t believe it’s already the 3rd week in September.

How about you? The long drive to California and my parent’s party gave me a chance to reflect on what my parents taught me about money and finance…

Mom and Dad were Depression babies who grew up in blue collar families. My Dad (#2 of 6 kids) was the first one to go to college and he did it all on his own for 2 years, then they got married and both worked to support themselves.

We always lived in nice, suburban houses (there were 3 kids) but none was ever the nicest one on the block; we rode in Ford station wagons (I always wanted the one with the wooden sides and the seats in the trunk, though), and went camping or visited family for vacation. One year they took us to Florida because my Dad’s company had an apartment they let us use and when I was in high school, we flew to Florida for spring break.

We even had a 2-way “party” line until I was in Middle School and we were never allowed to talk for more than 30 minutes! We got our first color TV when I was 12 and never had more than one.

My Mom and I sewed all my clothes (and I had something new for every date I went on!) They didn’t buy me a car or pay my insurance. I didn’t have any student loans because they covered college for me along with my high school savings. We didn’t talk about money much but one of my favorite memories is sitting with my Dad at the breakfast table reading him the stock market pages.

I remember being about 15 and adding up all the bank accounts we had – it was $20,000. Wow, I thought that was a lot of money. When I told my Dad, he made a face and a disgusted sound. I asked him “Why?” and he said, “That’s not a lot to show for 20 years of work!”

My Dad moved us around every 2-3 years (Cincinnati, Detroit, Cleveland, Dayton, Cleveland, New Jersey, California) and every move meant a new company. This was before “vesting” so he didn’t have any retirement or pension plan until he was 40-45. They did do well with homes they purchased in California and New Jersey after 1975 and they maxed out IRAs and 401-(k)s when they became available. I’m sure this is why I focus on retirement with everyone I work with.

Now, they live in a luxury retirement development where they have time and resources to travel and party (non-stop) with their friends.

So what’s the lesson here?

They focused on the basics with their kids, didn’t create debt and saved as much as they could. They got a late start on retirement but didn’t let that stop them from taking advantage of every retirement account they were eligible for. Now, they can live forever (and I hope they do) and still not run out of money.

What did your parents teach you about money? You can post your comments below!