Things I Learned from My Grandmother (#6): Set big goals

I will always remember how my grandmother wailed over my grandfather’s body just after he passed away in the hospital. They were married for over 60 years. I remember her saying later, “I guess we won’t make it to our goal of visiting 75 countries.” I was astonished that her goal was so high. “How …

Things I Learned from My Grandmother (#5): Be frugal

My grandmother was frugal. Not cheap, but frugal. I remember watching her cut napkins in half. And they were small napkins to begin with. I remember her telling me of a young man she dated whose family was well off and after spending some time with them she thought to herself, “No wonder they’re rich, …

Things I Learned from My Grandmother (#4): Question something until you understand it

My grandmother was a great questioner. Because of that, she understood a lot of things. She would always read the newspaper, especially the financial section, not necessarily to glean specific advice on specific stocks and companies, but to get a sense of how the experts thought about things. She was good at understanding the big …

Things I Learned from My Grandmother (#3): Shrug it off

My grandmother and grandfather were both very strong headed and they would argue quite a bit. I remember watching one argument that went back and forth for a while until my grandmother finally said something that stopped the argument without ending it by winning or losing the argument. She said something like, “Well, okay,” and …

Things I Learned from My Grandmother (#2): Health is the most important thing

Although my grandmother lived to be 100 years old, she always said that health is the most important thing, and that you don’t want to live to be 100 just to be 100 if you’re in poor health. I remember watching her take vitamins almost by the fistful and swallow several at once. And she …

Things I Learned from My Mother (#5): Be good with money

I vividly remember the day someone came to give a talk about retirement planning and 401(k)s at my first corporate job. He asked us, “Does anyone know what percentage of income the average American saved last year?” No one spoke. He answered: “Negative 1%.” The average American spent 101% of what they earned. That blew …