Lessons from mom and dad -read at least once and react
@maygodblessu44 (7336)
India
December 19, 2009 3:27am CST
Hello everyone here Ji,
I wish to share following mail with you all and compare our Mom and Dad[b]"Lessons from mom and dad
I came across this article and thought to share it, as we are a generation in transit!!!THE world has changed in just one generation. Our parents and their parents (and their parents) were made of the same fabric. Their careers spanned one job, maybe two in rare cases. They compromised nearly all their lives in the hope of a brighter future. So little to indulge with, so much to save.
And then there's us. Life is a party so live it up! Indulge, spend and let the changing jobs pay for the increasing EMIs (Equated Monthly Installments). The have-it-all generation with many friends, travel plans, parties, adventures, cuisines, luxury homes, just so many experiences packed into one lifetime.
If you think that means we're happier, let's not forget that there is a downside. We're caught in an economic boom. But boom times do not last forever. Do you think call centre employees will continue to make millions always? If they do, India will lose its competitive advantage. We don't have social security in our country, so if we are bankrupt or have nothing left, the state will do nothing. Family and friends will generally be of little help. Try travelling by bus and train when you have been used to air-conditioned cars.
So it's a life rich with experience and poor with cash. On the other hand, the 'sensible' generation will always have assets and never fall in the red.
Some lessons to learn:1. They have little or no loans, never have to borrow for education or wedding of their children.
2. Their quantum of assets however depends on their understanding of finance, money, planning and investment.
3. Their balance sheet is full of positive cash-flows for now and for the future.
4. They have provisions to see them through bad financial times as well.
But what's all the money going to do if you don't live your life? Many opportunities and experiences are missed. Life is routine and everyday is just the same grind. Things happen however but much later in life. The problem is that the significance of excitement dies. What is the point of being able to go for a romantic holiday to Sicily with your fake dentures and armload of medicines?So it's a life flush with cash but bankrupt on experience.
At the end of the day, this is an intensely personal choice. Needless to say, whichever side you choose the grass will always seem greener on the other side. The answer may lie somewhere in between -- don't spend like a king or live like a pauper. As RK Laxman would agree, sometimes life as a common man where you have a bit of both is most interesting and fulfilling."[/b] May God bless You and have a great time.
7 responses
@gitfiddleplayer (10362)
• United States
19 Dec 09
In the US you can invest in your future with money, nothing is certain so playing the game is what brings people happiness or sorrow. Some people have more savvy than others so they more money to invest. My generation has more of a hope to live a better life because the expansion of what our parents did for a solid foundation.
2 people like this
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend gitfiddleplayer Ji,
So nice of you for your pleasing comments. While in US temporarily, I cane across some adds where people were booking land on moon. No body ids certain when they will live. The following expression about our parents by you is itself proof tha they had better lived and had solid life style.
"My generation has more of a hope to live a better life because the expansion of what our parents did for a solid foundation."
May God bless You and have a great time.
1 person likes this
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend Lakota12 Ji,
So nice of you for your pleasing comments. But we findafet retirement surplus money as our liabilities to bring up three children are over, they are of tehir own , during service we made our own house and both my sons wants to hep us as and where required. Whatever we saved, we are getting fruits.
May God bless You and have a great time.
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend Lakota12 Ji,
Please over-look this photo as it was being up-loaded at other response, I tried to make your response and when I posted, it was up-loaded with your response. It is a wrong and I do apolize.
May God bless You and have a great time.
@Hatley (163781)
• Garden Grove, California
20 Dec 09
hi maygodbless I still remember so much of what my mom and dad taught me in growingup. one thing was not to get in debt, to pay cash for things, and if you could not afford it,wait until you could. use it up, wear it out, make it do or do without. those were words to live by during the first depression.I learned how to make wise decisions during my teens and early twenties and it helped a lot in my own marriage.we were both children of the depression era so we both were wise in our spending. ane we did nothing on credit. I am so thankful my parents taught me so well.
1 person likes this
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend Hatley Ji,
So nice of you for your favourable, erxperienced and pleasing response. You ar much more experienced than both of us here. My hubby wants toclear all pre-planned bills in advance and he wants that when he walks chest out , no one should dare to remind anyone to clear his out-standing bills. Live with credit and live with pride. Now a days every one starts with EMI.
May God bless You and have a great time.
@ronnyb (6113)
• Jamaica
28 Dec 09
Thanks for sharing this excerpt it contains many pointers that my parents and their parents have used and their lives werent half bad for following them .It would do many of us good if we could take a page out of their book.I like the one which says dont spend like a king and live like a pauper because sometimes I find myself in that very in that very situation and all because I have taken on too many loans
1 person likes this
@maygodblessu44 (7336)
• India
28 Dec 09
Hello my friend ronnyb Ji,
So nice of you for your pleasing comments. I always loved my mom and Dad, as I always consider that my exixtance today is due to them and this life goes on like that by having our own children. We expect that they too open some pages from our life and adopt. If their frequency and our freequency maytches,it resonates and bring fruitful results.
Wishing you a very happy Chrismas and New Year-2010.
May God bless You and have a great time.
@kamal1888 (76)
• India
20 Dec 09
i think you are right and the generation has changed very much...... social security is also very important in our life........
1 person likes this
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend kamal1888 Ji,
So nice of you for your pleasing comments. Present generation is happy to live in debt. Everything is brought on EMI.
May God bless You and have a great time.
@williamjisir (22819)
• China
20 Dec 09
Hello friend. I can see that many of us get engaged in only one career based on what we are familiar with. I am such an example, teaching for more than two decades without doing another job though I have been wanting to. It is mainly because teaching is my initial job and I have been good at it and improving it. But if I were as young as those in their twenties, I would surely consider working for a company doing foreign business or working for a translating company either as a translator or an interpreter, of which the latter is my better choice.
Now the young generations have more choices based on their advantages of age, as can be seen from the businesses they are doing. I think that it is not bad for one to choose a different career until s/he finds a more suitable one for her/him.
It is a time that we have experienced two major economic crisis both in the nineties and the global recession that we are experiencing now.
Life can be easy as well as hard, but so long as we have a good plan and make good use of our limited money without living a luxury life, we can still make it.
Grass on the other side can be greener, which can be true indeed, but still we need to walk over the space before we reach it. You know, in my country, there is still a very big gap when it comes to our economy state. The west part of our country is far less advanced than that in the east. Therefore people from the west remote areas rush to the east regions for a greener pasture for the improvement of their life. This is the current domestic situation of our country. We still need to develop our economy to make more people get rid of poverty, which is an issue that needs to be worked out.
Anyway, whether life is easy or hard, it is ours to explore. May you enjoy your life, my dear friend.
1 person likes this
@maygodblessu44 (7336)
• India
20 Dec 09
Hello my friend williamjisir Ji,
So nice of you for your pleasing comments. During Tambola, many voces could be heard requesting 'change the route'. Why do'ntyouapply ow and ake your children, what you could not do. It is good time. But great grand parents laid solid foundation for us.
May God bless You and have a great time.
