[Seia Ibanez]

What's the best lesson you'd pass on to the younger generation?​

Good morning, members! It’s Friday once again, and I hope you’re starting the day with a moment to reflect on your morning cuppa. This week might have thrown a few curveballs, but every challenge brings a bit of wisdom, right?

We’ve all had our share of ups and downs, and with that comes the life lessons we carry forward. So here’s a thought to kick off your Friday–if you could pass on one piece of advice to the younger generation, what would it be?

What piece of advice you could give to the younger generation? Credit: Shutterstock

Whether it's a simple truth or a hard-learned lesson, we’d love to hear your thoughts! Share them with us here, and let's start a conversation!

 

[Suzanne rose]

Save and buy property asap. I've passed this onto all my kids.

My son who is 24 and still at home is currently looking for property.

If they can buy property while still at home and rent it out for a couple of years . Try to pay as much off the mortgage as they can before moving into it will give them the best start.

It's while they are still at home they can save the most.

My other biggest thing I tell my kids is to never hold grudges as life is too short

 

[Frodo Bella1964]

A good work ethic. I realise the kids today expect more from those around them. They need to take direction , take the initiative And don’t be lazy as someone else will have to pick up the slack.And lastly…THINK ABOUT OTHERS. Not just themselves. That’s not easy for a lot of people.

 

[JackiW]

I have learnt that it is not enough to marry someone you think you can live with, better to wait until you find the one you can't live without.

 

[DavidRoss]

It's probably well beyond your horizon at the moment, but retirement will come. Start preparing now. Don't rely on the Government to look after you. They can't keep their grubby hands out of all that Superannuation money.

 

[novezar]

Financial matters are a must.

1. At a young age, say 10 yrs old, open up a bank a/c for them where if you can, deposit $1000 in for example, as a starter, a CBA Gold saver account. Give the child, $5/wk to put into that a/c where they can see the compounding interest going in each month. The current rate is 4.9%. It's surprising how that adds up by the time they reach 18yrs of age. A lot of other banking institutions have the same style of accounts. Just don't withdraw anything from it as you'll lose the interest for that month.

2. When starting out in employment, ask your employer the name of the Super company where their compulsory super is going in for you & also your account number. When you establish the name of the company, contact them & request that you want the contributions to put into Australian shares & International share funds portfolios only. That way you will receive a much higher percentage return over the long term. Be very prepared for some volatility which is NORMAL.

3. Make sure that your monies are not in a balance type of fund. Nor in any Cash portfolio. At a young age, having that type of portfolio is CRAZY. You'll lose a lot by being in that type of portfolio over the long term.

4. Make sure that you're not paying into any insurance scheme through any contributions. They are a complete waste of time & money. Those fees just go back to the super companies coffers. You'll lose an incredible lot of money which should be fully invested into your account. Demand, as it's extremely IMPERATIVE, that any insurance premiums are cancelled.

5.Get used too, & out of you wages, set up with your super company to have a very affordable (the bare minimum) amount to be deducted from your bank a/c to be added to your super. It'll feel very hard indeed to start, but, after a while you wont feel that pain, trust me, to give you a greater reward at the end of your working days. There maybe some tax benefits as well for you there, with a "?" Those extras can be added too or cancelled at any given time.

As a footnote, at my age over 80, I have a supplementary super account where I'm invested in extremely high volatile investments, e.g. Passive Aust., Property, Passive International & International shares. The only reason I'm not in Passive Aust., Shares is that it was too costly to get into them. My wife's small super a/c is also in the same portfolios of the same company. I keep a very ACTIVE interest in what's going on & keep written records of their daily exit prices. I'm very much upto date with them. I've even switched around with them to gain a better return.

I'm a TRUE BELIEVER in investments. I'm very sorry if I've been too long winded & boring. Just a bit of friendly & good advice, only. I'm talking out of sheer EXPERIENCE.

 

[Jo Piper3]

Be honest in all your actions.

 

[Ebby]

Financial matters are a must.

1. At a young age, say 10 yrs old, open up a bank a/c for them where if you can, deposit $1000 in for example, as a starter, a CBA Gold saver account. Give the child, $5/wk to put into that a/c where they can see the compounding interest going in each month. The current rate is 4.9%. It's surprising how that adds up by the time they reach 18yrs of age. A lot of other banking institutions have the same style of accounts. Just don't withdraw anything from it as you'll lose the interest for that month.

2. When starting out in employment, ask your employer the name of the Super company where their compulsory super is going in for you & also your account number. When you establish the name of the company, contact them & request that you want the contributions to put into Australian shares & International share funds portfolios only. That way you will receive a much higher percentage return over the long term. Be very prepared for some volatility which is NORMAL.

3. Make sure that your monies are not in a balance type of fund. Nor in any Cash portfolio. At a young age, having that type of portfolio is CRAZY. You'll lose a lot by being in that type of portfolio over the long term.

4. Make sure that you're not paying into any insurance scheme through any contributions. They are a complete waste of time & money. Those fees just go back to the super companies coffers. You'll lose an incredible lot of money which should be fully invested into your account. Demand, as it's extremely IMPERATIVE, that any insurance premiums are cancelled.

5.Get used too, & out of you wages, set up with your super company to have a very affordable (the bare minimum) amount to be deducted from your bank a/c to be added to your super. It'll feel very hard indeed to start, but, after a while you wont feel that pain, trust me, to give you a greater reward at the end of your working days. There maybe some tax benefits as well for you there, with a "?" Those extras can be added too or cancelled at any given time.

As a footnote, at my age over 80, I have a supplementary super account where I'm invested in extremely high volatile investments, e.g. Passive Aust., Property, Passive International & International shares. The only reason I'm not in Passive Aust., Shares is that it was too costly to get into them. My wife's small super a/c is also in the same portfolios of the same company. I keep a very ACTIVE interest in what's going on & keep written records of their daily exit prices. I'm very much upto date with them. I've even switched around with them to gain a better return.

I'm a TRUE BELIEVER in investments. I'm very sorry if I've been too long winded & boring. Just a bit of friendly & good advice, only. I' m talking out of sheer EXPERIENCE

 

[novezar]

Save and buy property asap. I've passed this onto all my kids.

My son who is 24 and still at home is currently looking for property.

If they can buy property while still at home and rent it out for a couple of years . Try to pay as much off the mortgage as they can before moving into it will give them the best start.

It's while they are still at home they can save the most.

My other biggest thing I tell my kids is to never hold grudges as life is too short

Great advice there, Suzanne rose. Just hope that many others are trying as well. Not an EASY ROAD at all.

 

[Ebby]

Good idea and wise you can never be too young to save . No connection really but just wondered if you remembered E.R.N.I.E ? When my eldest son was two months old l was given ten shillings which l put into E.R.N.I.E for him .He is now sixty five and he has never won anything lol. Should have put it in the bank instead.

 

[starrysnan]

It doesn't cost anything but a please and thankyou are always well received.

 

[Ebby]

It doesn't cost anything but a please and thankyou are always well received.

True manners are important .
Take people as they are and try not to judge them and put yourself in their shoes.Be yourself and if someone doesn't like you well thats their problem and don't take it to heart. Try and be helpful and kind and of course it's a good idea to save early if you can.

 

[Sooty61]

Respect

 

[Boomer54]

Respect is something that must be earned , and should always be shown.

Always learn at least 1 new thing every day, and always teach at least 1 thing every day.

If you don't do both, then you have wasted that day, You will earn the respect of others when you follow this creed.

 

[MariaG]

Always behave with honesty and integrity.
When you socialise with workmates, remember, you are being watched, so, behave responsibly.
Do not judge others too quickly. You may well be judged yourself from time to time.
Find one thing that makes you smile, and, one thing for which to be grateful every day.

 

[Dynamo]

Apart from a home purchase, don't spend more than you earn.

 

[Aunty Rolls]

Discipline your mind

 

[Kristal]

Stay away from sugary drinks. They'll make you fat in no time. Drink water, milk or tea instead. Even coffee is better than a sugary drink. Drink freshly squeezed orange juice, pineapple juice or apple juice if you can. Stay away from beer; okay one glass per week is OK but no more than that. That beverage will ruin your health in my opinion and make you fat.