Money Advice from Dad

In honor of Father’s Day, several of our staff shared some financial advice their fathers shared with them. What financial advice has your father shared with you?


  • My Dad always says “Think Ahead”.  Saving now for the future is so important due to the compounding of returns. The sooner you start to plan for retirement, the larger your retirement nest egg will be. There is a lot more to the saying “Think Ahead” that goes beyond finances.
  • He also said “The more you give, the more you get”.  It seems like this about money but again it goes beyond that. From this I learned to see things from others perspectives and to help others. There are many ways to give and so much to get in return.


  • Don’t have a joint checking account – always keep your money separate from your wife.
  • Don’t invest in buying a house because the mortgage payment will be too high. Just rent an apartment so the monthly payment won’t be too high.
  • Don’t save for retirement if your job offers a pension.

From Jackie:

  • Never leave home without money.
  • Never run out of gas.

From Ellen:

  • Phil’s (my father) motto was “Never use credit.” My dad had a big box he hid in the wall of the kitchen. In that box were about 15 envelopes each marked with different household expenses.  There was the PSE&G envelope, phone bill envelope, etc., etc. After each pay day, my dad would cash his check and fill the envelopes with the cash needed in anticipation of the bills coming in the mail. When the bill would come, he would empty the envelope, put the cash in his bank account and write out the checks. Much to my mom’s dismay, this process which was kind of backwards; but it gave my dad a sense of comfort knowing that his budget system never left him scrambling to pay the bills at the end of the month.
  • Today, as my dad is no longer with us, I have my mom using online banking; but, the concealed hole in the wall still remains.

From Patricia

  • Learn to have patience in all that you do.

From Nicole:

  • I have had two dads since I was 7 years old (dad and stepdad) and they both always gave me the same advice: Start saving as early as possible for a retirement. This was the advice that they spoke. However, by living with both of them and learning their habits, their actions taught me other unspoken advice. My dad was a spender and liked the finer things in life and urged me to start saving for retirement while he worried about his own. My stepdad was a saver and repurposed everything he possibly could, and spent his last years working knowing he could retire comfortably any day that he chose. Luckily, they both retired in 2016 and are secure and very happy!

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