Help Your Mom

woman in white dress shirt

My mom never really understood why I would save more than half of my income. She thinks it sounds risky and stupid.

She will say something like this: 

“Why don’t you just find a job you like?

“Spent your money on something fun. You have worked hard for them”

“What if you lose all of your money?!

“I don’t like the idea of making money doing nothing

My Parents and The Stock Market

“Normal” people didn’t have access to investing in an index fund before 1975, and that was in the US.

I have no clue when people could invest in an index fund here in Denmark, but it was not when my parents were about my age.

People who would invest back in 1980 were evil capitalist people.

There was no internet around to teach my parents otherwise.

My Moms Mini-Retirement

The other day she called me at 8 AM on Sunday.

I thought that there was something wrong.

I’m going on a mini-retirement to Italy in 2023, and you need to learn me how to invest!”, she yelled.

I have no clue why, but she can now see the benefits of not spending all of your money. And buying back her time instead.

My Families Investing

My entire family invests now.

My dad is investing 1.500 DKK/month, in the same stock fund that I do, in addition, he has some bonds too. His allocation is 50/50.

My sister is investing 250 DKK/month because she would like to be debt-free. Her allocation is 100 % in the same fund as mine.

And I haven’t guided my mom yet, but she will probably have the same allocation as my dad.

Help Your Friends and Family

Firstly, Try to ask your friends and family how their future looks like.

And not just financially, but just what they would like to do.

Secondly, Let them know that almost anything is impossible if they implement some investment in their lives.

Thirdly, It doesn’t have to be complicated.

All you need to do is: 

  1. Open an account
  2. Buy some shares of a cheap global stock index
  3. Have your age in bonds (Or have 100 % in stocks for simplicity)
  4. Do that every month

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