Saturday, April 01, 2006

financial planning

so i think i am officially a grown up.

yesterday, i took the day off and went to see my financial planner. now let me explain that the only reason i HAVE a planner is because my parents did't let me keep the $4K that i earned deliverying newspapers and it all went into the stock market bc they have foresight and i was 8 (i did get to pick the stock - disney of course). so now that money has grown and josh's grandfather gave us a hefty wedding present and we can't let it all sit in ING (however wonderful ING may be).

so we talked about 401K's and long term stocks and the our first big purchase. and although it was a little scary, starting an account for the house is really exciting! in two or three years, we may be able to put 20% down on a place near boston, four bedrooms and a yard. when he asked what the next big purchase would be besides the house (we were looking at a timeline) i promptly replied "college tuition" and ken (the ML guy) and josh looked at me and laughed. but its true! besides the occasional vaction, the only things i really want to spend money on is my kids. of course, the kids i do not have. but those will come eventually.

this is something i feel extremely strongly about. my parents were fortunate enough to put both my sister and me through college with no loans and no financial aid and i want to be able to do that for my children as well. i want them to be able to persue any career they want after college without thinking of loans - to have the same freedoms i did. i see what some families go through to pay for college: third mortgages, personal sacrifices that can affect the parents and chilren, and worst of all, sacrifices made by the children themselves. i watched many of my friends experience this and saw the strain, and although i would give up anything for my kids if the time called for it (yes yes the kids i do not have) i would rather work now so they won't have to. i do not know if it the indian mentality or simply how my parents thought about things. it shocks me that they still think it is perfectly normal to foot the bill were i to go to grad school. whether i would take the money is a different issue, but the idea of living for your kids is very ingrained in the way i think of things, and i do have my parents to blame/thank for that.

not sure what this blog is really about - the fact that i am planning for the future or the fact that i think i need to.


Blogger si gracieuse said...

oh, she look so OLD. we never think it could happen for you, NEVER! what okay! NOkay!

i'm proud of you, darling. you're a lucky lady.

also, as an aside, someday i hope to SEE your new and fancy abode.

1:46 PM  
Blogger Deepa said...

well, plan on coming home for a weekend this summer and you can stay over and i will make you waffles and fresh squeezed OJ:) AND bacon on the new griddle! oh AND smoothies in the new blender! oh oh! and hummus in the food processor, AND AND! can you tell i am on a bit of an appliance high? hehe

2:51 PM  

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