Smith 
The other day, a client asked me a question that made me stop and think. They wanted to know, "Jeff, what’s the best financial advice you’ve ever received?" That really got me pondering all the tips and advice I’ve gathered over the years. I couldn’t answer right away.
You see, my parents didn’t really give me solid financial advice. They would tell me to save, but never showed me how or introduced me to useful tools like the Roth IRA. The best advice I’ve received actually came from my clients and their experiences—their successes and mistakes.
One key piece of advice is to start saving early. It sounds simple, but it’s true. I’ve met many people in their late 50s or early 60s who weren’t as confident about retirement as they’d like. They all wished they’d started saving sooner. Hearing this while in my 20s really hit home because it’s something my parents never drilled into me. Seeing folks uneasy about their financial future made me take saving seriously.
Another important tip is to save more. Again, it’s not groundbreaking, but it’s crucial. Clients have told me, "Jeff, we wish we had saved more." They regretted not saving enough and starting late. This firsthand insight was invaluable.
Earning more is also essential. It’s not just about saving money but also increasing your income. Whether that’s getting a raise, doing freelance work, or finding a side gig, every bit helps. I’ve tried to diversify my income, and it makes saving a lot easier.
Lastly, there’s the story of my old car, the ‘Lu’. It was a 1998 Chevy Lumina that my grandmother passed down to me in college. Thanks to my finance professor, I learned the value of holding onto that car instead of trading it in for something flashier, like a BMW. Avoiding a car payment allowed me to invest in my 401(k) and Roth IRA, teaching me how to manage money wisely.
These pieces of advice—starting early, saving more, and earning extra—have been some of the best financial tips I’ve ever received. What’s the best financial advice you’ve gotten? I’d love to hear your stories and comments so everyone can benefit.
