5 Financial Topics to Discuss This Thanksgiving

Thanksgiving is a time for family, gratitude, and let’s face it—some intriguing dinner table discussions. As we gather around with loved ones, it’s natural for the conversation to wander into finances. After all, money plays a crucial role in our lives, and who better to discuss it with than family? Here are five financial topics that often come up this time of year.

1. The Power of Compound Interest

Ever heard of “interest on interest”? It might sound mundane, but it’s a powerhouse concept. Consider this: a $10,000 investment with a 7% annual return could grow to over $76,000 by age 65. The trick? Start early and be consistent.

2. Benchmarks for Savings Goals

Setting a savings goal might feel daunting, but benchmarks can guide you. Aim to save 15–20% of your gross income yearly. By age 35, you should ideally have 1–2x your salary saved, reaching 10x by retirement. Remember: consistency beats perfection every time.

3. The Value of Diversification

Resist the temptation to chase the latest hot investment. Instead, focus on diversification—spreading investments across different asset classes, sectors, and geographies. This strategy helps reduce risk and supports long-term stability.

4. Principles of Financial Independence

Financial independence means having the freedom to decide when—and if—you want to retire. It requires living within your means, avoiding lifestyle inflation, and being mindful not to overspend on housing.

5. The Case for Long-Term Investing

Timing the market is a risky game. Instead, stick with a long-term investment plan, ride out the market’s ups and downs, and stay focused on steady growth.

As you savor the pumpkin pie, take a moment to reflect on any financial discussions you’ve had recently—or those you’d like to start. Remember, asking questions and seeking advice is a wise step toward financial well-being. If you’re curious or need a more personalized approach, feel free to reach out!