Thank you for inviting my to take part in this series, Keris. It was really interesting thinking through what money means at this stage in my life. Hope it's helpful to others.
Really enjoyed hearing from women in other "decades" in this series.
Thank you, Helen! Sometimes, we learn the hard way – like going through that awful situation with my aunt – but it's good to be able to share the knowledge.
I’m sorry you had to deal with that, it sounds unbelievably stressful. My dad organised he and my mum’s POAs (health and finance) about a decade ago after seeing how hard their best friends struggled when her mum was ill before she died. My husband would have the POA rather than me, on the basis he is a step removed so would be less likely to make emotional decisions, which I appreciated.
But all your advice about savings, pensions, self employment and liking both up and down were super wise too 😊
I have PoA for my mum, but I do need to look into a will for my children. I have a great life insurance policy with work but things like the house etc need to be clear. Looking up and down are very wise words Wendy, thank you!
Thanks for the link, David. Ugh. Student loans, yes. My daughters were lucky to get in under the wire when UK student loans were still fixed at a low rate (and with a low interest rate); my son is a lot younger (22) and graduated with a hefty debt, and the interest rates are higher than they used to be. (And all that for a degree that had huge chunks of it delivered online due to the pandemic.) I can't think about that too hard or it makes me angry.
The thing I find so astonishing is that they were able to change the terms after signature. My original loan was to be written off at 50 and now it’s 65.
Woah. That’s worrying, Keris. And it’s what worries me for youngsters, too, that it becomes this weight they’ll never be rid of, accruing interest all the while. And whether it might then get in the way of other life decisions (eligibility for a mortgage and such; I haven’t looked into it properly, but recall reading some horror stories).
This has been *such* a fascinating and useful series, thanks Keris. And all the more so for including the fabulous Wendy as your final case study. (It also helped cast my fairly inept current role as treasurer of our primary school’s PTA in a more positive light 😁)
*Adjusts glasses & coughs* Just checked and no you didn’t say it was the last at all - no idea where I got that from?!! But of course now you say it it’s totally obvious. Looking forward to the 70s, 80s and yes even 90s posts still to come 💪🏼
A wonderful interview. Thank you, Wendy for your insight. I was "locked out" of conversations with my parents over anything to do with money, which has made life very awkward, especially since my Father died. Like you, I learned from my parents' behaviours and that knowledge is priceless. It also helps to learn how others manage their finances, so thank you, Keris for this series.
An excellent read and what an excellent Stack Keris! The bit about the policy taken out on your dad Wendy by your grandmother was fascinating. How practical and forward thinking of her!
Thanks for reading, Faith. Yes, the child funeral policy was fascinating. Such an ancient document, too. My dad nearly died of meningitis when he was four, so all the more amazing that he made it to 93. Ironically, that policy still didn't cover all the cost of his funeral, but it helped!
Thank you for inviting my to take part in this series, Keris. It was really interesting thinking through what money means at this stage in my life. Hope it's helpful to others.
Really enjoyed hearing from women in other "decades" in this series.
Thank you!
Wendy is WISE
Because she worked for Just Seventeen!
Thank you, Helen! Sometimes, we learn the hard way – like going through that awful situation with my aunt – but it's good to be able to share the knowledge.
I’m sorry you had to deal with that, it sounds unbelievably stressful. My dad organised he and my mum’s POAs (health and finance) about a decade ago after seeing how hard their best friends struggled when her mum was ill before she died. My husband would have the POA rather than me, on the basis he is a step removed so would be less likely to make emotional decisions, which I appreciated.
But all your advice about savings, pensions, self employment and liking both up and down were super wise too 😊
Thanks, Helen!
I have PoA for my mum, but I do need to look into a will for my children. I have a great life insurance policy with work but things like the house etc need to be clear. Looking up and down are very wise words Wendy, thank you!
Look into a POA for you too! It’s seen as a thing for elderly parents, but everyone should have one. (I keep saying this. I do not yet have one.)
Thanks, Emma.
Suspect you might appreciate this article, Keris: https://thespinoff.co.nz/books/29-10-2024/my-number-one-regret-my-100000-student-loan
Thanks for the link, David. Ugh. Student loans, yes. My daughters were lucky to get in under the wire when UK student loans were still fixed at a low rate (and with a low interest rate); my son is a lot younger (22) and graduated with a hefty debt, and the interest rates are higher than they used to be. (And all that for a degree that had huge chunks of it delivered online due to the pandemic.) I can't think about that too hard or it makes me angry.
The thing I find so astonishing is that they were able to change the terms after signature. My original loan was to be written off at 50 and now it’s 65.
Woah. That’s worrying, Keris. And it’s what worries me for youngsters, too, that it becomes this weight they’ll never be rid of, accruing interest all the while. And whether it might then get in the way of other life decisions (eligibility for a mortgage and such; I haven’t looked into it properly, but recall reading some horror stories).
This has been *such* a fascinating and useful series, thanks Keris. And all the more so for including the fabulous Wendy as your final case study. (It also helped cast my fairly inept current role as treasurer of our primary school’s PTA in a more positive light 😁)
Thank you so much! But not final! (Did I say that somewhere? I didn’t mean to 😂) There’s two, possibly three, more to come.
*Adjusts glasses & coughs* Just checked and no you didn’t say it was the last at all - no idea where I got that from?!! But of course now you say it it’s totally obvious. Looking forward to the 70s, 80s and yes even 90s posts still to come 💪🏼
Haha! I thought it was perfectly possible I could have written it unintentionally 😂
A wonderful interview. Thank you, Wendy for your insight. I was "locked out" of conversations with my parents over anything to do with money, which has made life very awkward, especially since my Father died. Like you, I learned from my parents' behaviours and that knowledge is priceless. It also helps to learn how others manage their finances, so thank you, Keris for this series.
Thank you. And I’m sorry about your father.
Thank you
Thank you, Ofifoto.
An excellent read and what an excellent Stack Keris! The bit about the policy taken out on your dad Wendy by your grandmother was fascinating. How practical and forward thinking of her!
Thanks for reading, Faith. Yes, the child funeral policy was fascinating. Such an ancient document, too. My dad nearly died of meningitis when he was four, so all the more amazing that he made it to 93. Ironically, that policy still didn't cover all the cost of his funeral, but it helped!
Gosh that’s a great addition to the story!
Thanks, Faith.