“Be in charge of your own financial life.”–Kerry Hannon
My Dad encouraged my older sister, Pat, and me never to rely on anyone financially. He pushed us to learn and explore great careers at a time when I don’t think many fathers were giving their young daughters that message. This was in the 60s and 70s. He explained to us that if we could support ourselves we would have the freedom to pursue the things we loved in life without having to ask anyone permission. His outlook and ours was never I can’t do something because of a financial obstacle, it was how can I? Ever since I began to earn my first full-time paycheck, when I graduated from college, I’ve held my own bank, credit card and investment accounts separate from my husband–even after more than 24 years of marriage. Sure we have joint bank and investment accounts, too. But we each also have our own financial independence. That’s empowering.
Read more tips from other experts at TIAA.