Many Baby Boomers today probably have a 22 year old who is just entering the "real" job market. No longer working at McDonald's, mowing grass or the local department store. Here are 3 things a Baby Boomer should teach their 22 year old child.

#1 Start Saving Earlier

As you get older life takes over. From getting married, to buying a home and then having children. Life accumulates. You can accumulate money as well as life experiences. Don't sacrifice either one, but it is easier to start saving for retirement or anything when you start earlier. By starting earlier you have developed a great saving and spending habit.

#2 Don't Follow the Masses

Over the years you get a lot of advice on how and how not to save for retirement. You will here comments that saving is a waste of time. No one ever gets rich saving money. You should just spend all you earn because you can save later. The other advice you here is to save all you earn because you need to save for a rainy day. The best advice is to try different strategies until you discovery a plan that works for you. Remember you can live one way for 5 years then try a different plan the next 5 years. Humans are the only ones who can choose such an existence. Birds can't. Your cat can't and your dog can't.

#3 Depend on Yourself Not the Government

Everyone's life is independent of each other. We are not all alike. Your neighbor may spend all he earns and is going to depend on Social Security. Well someone 22 years old probably will not have the same type of Social Security plan as a Baby Boomer has today. Now this can be good or bad depending on your point of view. I think it a good point of view. Because today we have more opportunities to dictate our own retirement plan. From 401k plans to IRAs to Roth IRAs. There are multiple ways to increase your retirement lifestyle.

Thinking having Social Security is the only way to retire successfully is a bad plan. Take advantage of all the retirement options that I did not have at age 22. What this gives you is options later in life. You can choose to work or do something for your family or community.

So wrapping up realize as someone 22 years old that you have unlimited opportunities to succeed in life. You are in control, but if you don't act you will not be in control. Eventually someone else can be in control of your financial destiny which is something no one wants.

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