So, fingers crossed, Frugal Son is about to graduate from college. He went to State U, incurring costs of zero. I had a lot of ambivalence and conflict about his not going the private route, probably more than he did. As far as I can tell, he is no more or less happy with his choice than other kids he knows, whether they chose private or public school.
Over the years, he has amassed bits and pieces of cash, either from working, or from gifts. This last year, he decided to buy stocks and utilities! He is ahead of me, since I've stuck to mutual funds in my fearful way.
He informs me that his net worth, some of which is in a Roth IRA, is a little over $16,000. And he has no debt.
I think this is a good start. In fact, he's bugging me about letting him choose investments for ME. I think I'm going to buy a few things.
MY SON THE FINANCIAL ADVISER. Any mom would be proud. Of course, I'm his only client and he's doing it pro bono. Credentials: a BA in English. Wow!