Basically you need to have parents who teach you (which is rare because most adults out there are clueless, obviously), otherwise you will probably end up in debt just like them. Or you just learn later in life (if at all), which in most cases is too late to fund a legit retirement.
Disagree.
Agree, parents can only teach so much anyway. My parents (well my Mom) were very thrifty when I was growing up, so I carried that over to my financial behavior. We were lower middle class but we always had enough, they weren't in debt or behind on stuff as far as I know. My Dad always said, "Dr D Jr, that kid likes money." I do, and still do but I also am not one to blow it. I will spend big on vacations and experiences though, something they would never do.
Now? My Dad told me they had $9k in CC debt and they are retired on a pretty good pension. I'm like
They buy all kinds of dumb #### now, especially my mom. They have $16k in their checking account too, makes no sense. My Mom has lost her mind these days, buying all kinds of crap I'm going to someday just throw away. Not hating on them getting things that make them happy in their senior years either, this is all dumb #### like those diet plans and junk from QVC. If they were in debt because they were traveling and living life, I'd be cool with it. I figure their house is worth $130k and it's paid for, as long as they don't leave my sister and I with over $130k in debt we're good.