The best money advice from dad

What, if anything, did your father teach you anything about money?

From an early age, my dad stressed the importance of saving and investing. And he guided my earliest personal finance decision: picking a state school over a private university, so that I graduated debt-free.

Dad also helped me set up a retirement account when I started at my first job, advising on investment options and pushing me to max out contributions, even on a starting salary in journalism. He taught me to live within my means, look for low-cost investment products and cook meals at home, rather than eat at a restaurant.

With Father’s Day upon us Sunday, Reuters asked a few C-Suite leaders, including Mary Callahan Erdoes, CEO of J.P. Morgan Asset & Wealth Management, and Tori Dunlap, author and founder of Her First $100K, about a key financial lesson they learned from their dear old dads.

Here is what they had to say.

Finding a camp for your kid is this summer’s madness

See if you can spot me in this summer camp photo. The eight summers I spent at Camp Kweebec (five as a camper and three as a counselor) in Schwenksville, Pennsylvania, are some of my best. The girls in this picture are still my dearest friends today.

Many camps, however, stayed shuttered in 2020 amid the global COVID outbreak. But now top summer camps are the most popular they have been in years.

“I was just talking to a camp director who has over 500 kids on his waitlist," says Tom Rosenberg, president and CEO of the American Camp Association, which helps serve a network of more than 15,000 camps and more than 26 million campers. “So demand is soaring – but there is limited capacity.”

As enrollments soar, the main challenge for parents is the serious legwork that needs to be done early in the year along with covering the cost.

Here are a few last-minute tips along with strategies to plan for next summer.

REUTERS POLL ??

In our last poll, we asked where you store your important documents and valuable items. Overwhelmingly,?respondents said they use an in-home safe (42%) and 25% of respondents stash stuff in a drawer!

Our latest poll looks at the cost of camp and how much you plan to spend this summer.

Take our poll here.

What new data show about the post-pandemic U.S. workforce

The Great Resignation. Quiet Quitting.

The pandemic triggered a new language around work, particularly in the service industry, as people reexamined priorities and wage demands in light of the health and safety risks involved in interacting with a sometimes unruly public.?

Pandemic benefits helped people manage through layoffs and a brief recession. As they engaged again with work, it often took higher pay to secure their help.

At a very basic level, the distribution of jobs reflects what individuals, businesses, institutions and governments need, want and are willing to spend money on.

?? SEND ME YOUR MONEY QUESTIONS!

Are you caring for aging parents and trying to get a grip on their finances? Do you need a new car? Send your money questions to me, and I'll tap my extensive source network and braintrust for expert advice.

Submit your questions here.

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