There are basic things that we all need to do at various stages of our lives. Yes we all need a skill, get a job, meet a companion, live somewhere, accumulate money or assets, retire then die. It is the American way of a full and hopefully satisfying life. The problem is in how we get to these stages in our lives without harming ourselves and others around us. How do we get through life successfully? Times have changed.
Luckily, we are all off the hook in terms of responsibility till we reach 18 years old. If we mess up before 18, we can blame the parents after all that is the only stage of our lives when they can order us around and get away with it. It is also the best and most free days of our lives. At age 14 we can be as big as an adult, have big opinions about everything and not have to do anything because technically we are still a kid. We get everything we want because we are too young to get a job so, all the cash comes from Mom and Dad. We can go everywhere but we can’t drive so no responsibility there with having to worry about killing someone while driving.
So, lets start with your e-mail address for contacts. Before you select a name, remember you will have to put that name on job applications. So, change “Sweet Cheeks 24/7” as your name, to something more conservative girls. And guys, ”Beer Chugger 123” is not a good name either. Yes , those names are fun but do you really need a wacky name to represent you?
Here you are ready to go to college and need a scholarship. There are many scholarship programs that are going on Twitter and Facebook and they look at what you have written and what you have shown to the world that represents who you are. If there is anything written on your Facebook pages that can be considered risky or off color or wild and crazy, you just may be denied a scholarship because of what you decided to show on your social media pages. So, you have to be very careful how you present yourself to the world.
What you should do is have the beneficiary on the life insurance policy be a living revocable trust where someone is NAMED to take care of the money for your minor child. So, look around at all times of your life for someone you can trust with your child and the money you wish to give that child. The name you put on that policy worth thousands of dollars is the one person that will make sure your child has that money to be used for your kid.
If you do not intend to stay in your home forever then do not pay down the mortgage of your current home. The sacrifice you make to just give chunks of your money to the bank won’t matter much. You will just recalculate the balances during the property transfer. So, whatever stage you are in your life, take care of the important stuff.