re: What’s the smartest financial decision you’ve ever made?

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Compound interest is taught in school. I learned it in Algebra 1

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Mindset and context being it to life. That’s what parents are for!

Many people are making $million decisions by their key financial decisions (good or bad) in their 20s, 30s & 40s…many with no clue to what the trade off is because of their financial (or lack of) mindset and context.

I have worked with engineers who cannot handle personal finance. Not because of their financial math, of course. Mindset and context just was not there.

i only know the worst, and that's my wife.

switching from the prov1x to the maxfli tour x.
$130 for four dozen

Buying rural acreage in a growing area. Land has more than doubled in value in under 10 years.

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Marrying my wife

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i need to change my answer to this. this woman talked me into buying that house in the first place. i was happy living where i was

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What’s the smartest financial decision you’ve ever made?

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Started to view travel as an investment not an expense

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What’s the dumbest financial decision you’ve ever made?

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Passed on an early investment opportunity in Marucci Sports and what eventually became Traction. "That's never gonna work" I said.

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It’s criminal that they don’t teach basic finance and compound interest in high school.

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It’s criminal that they don’t teach basic finance and compound interest in high school.

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i learned it in high school

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….a high paying corporate job that covers insurance premiums for the whole family.

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In addition to healthcare the right employment situation can contribute other benefits: gym/CC/Yacht club dues, vehicle allowance, some travel expenses, cellphone/IT expenses, entertainment allowance, better access to professional financial planning…hell, down to what a friend of mine calls “dumpster privileges” (the use of a dumpster to get rid of stuff).

All these things contribute, but my take on the most important keys to success are (in no particular order):

1. The right spouse, who shares the same outlook and responsibility ability. And then staying married to the right one is a huge advantage.
2. Great kids: while they do cost, the cost of having crappy ones: (in/out of rehab, with legal issues, having a poor work ethic or being baby mommas/daddys) would cost more. So if you’re going to have them, you’ve got to invest time, resources and attention in their upbringing.
3. Financial discipline and sticking to a responsible strategy (wants =/= needs)
4. If you can’t personally manage your own medium and long-term financial situation (and many folks can’t), finding the right assistance.

And then there’s always health issues, good or bad luck, larger (than nuclear) family issues, and global market timings to randomize everyone’s situations.

Bought a major stock at about 22 which is now several hundred dollars a share.

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Not taking financial advice from the Money Talk Board

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Yet 30% of your post so far in your short tenure here have been on the Money Talk board. What number alter are you on now Norway???