Proud of son

**sk8mom** · 01-19-2007, 04:14 PM

Hi all! I just have to brag

. I'm so proud of my son. Tyler is 17 and has had a job now for almost a year and has been putting money into his IRA money market account. He has contributed $500 now and is talking about moving the money into an IRA CD and still keep putting money into his money market account. Any advice?
I just keep telling him how important it is to save for emergencies and retirement. He's pretty frugal about his money and doesn't just spend it on junk - I just wish he would buy himself some decent shoes though lol

He bought his own car and faithfully pays me every month for his cell phone bill and pretty soon he will have to pay insurance on his car - he's not driving yet, but the day will come soon.
I wish I would have known what he knows when I was his age, instead of learning about finances and frugality late in life. Things might have been different financially for us and not such a struggle. That is why I really try to stress to him how important saving is and not to get caught up in the credit card trap. I keep telling him if he continues to save and put money away into retirement he may be able to retire early. He thinks that would be cool and so do I.

**brenda67** · 01-19-2007, 04:19 PM

You have a Great Kid.....I can only hope my boys follow the same path as your son..

**Michelle** · 01-19-2007, 05:53 PM

Awww I'd be bragging too. I don't have any advice about the IRA stuff, but I just wanted to say "Good for you!" to your son

**Monner 1** · 01-20-2007, 01:56 PM

You should be bragging. He sounds like a great kid. I agree I wish I was that financially smart when I was that age.

**Darlene** · 01-20-2007, 02:19 PM

Don't have any financial advise but wanted to give him a high five for being a saver and interest earner. Was pleased with my son who recieved a large amount of $ and quickly put his money into a cd. Using your money to make money is a good thing to learn and put into practice at a young age. Wishing your son the best.

**PrairieRose** · 01-20-2007, 04:26 PM

I'd be bragging on him too. I don't have any financial advice about the IRA either I'd speak with a banker or cpa about how to make it work for him the most. Great going with his savings and handling of this own money

**jamie79** · 01-20-2007, 05:45 PM

sounds like a great kid to me

**suzysaver** · 01-20-2007, 08:35 PM

Good for you, you raised him right !
What a smart kid, wow your right...if only we would have been that frugal and devoted at that age. WTG and you have every right to brag..congrats on raising a focused and wise young man.

**FrugalMomof3** · 01-20-2007, 08:38 PM

You have a great and very smart kid there! You should be very proud.

**miss_thrifty** · 01-21-2007, 05:10 AM

no financial advive, but id be proud too. You got a great kid there, WTG!!!

**JustJoy** · 01-21-2007, 09:24 AM

Wow! What an awesome young man!

**Mom23boys** · 01-21-2007, 06:51 PM

You have a very smart and awesome young son!! It is great he is already thinking of his future at such a young age!

**Dancing Lotus** · 01-21-2007, 06:56 PM

he is only one is a very small handful of 17 yrs olds that have any type of savings or investments. I can see that no matter what he does he will be successful.

**Telephus44** · 01-21-2007, 09:30 PM

WTG on raising such a great kid! And I think that it's a smart move to move the $$ from a money market account to a CD - the CD probably pays a much better interest rate.