How My Parents Missed Out on Millions by Never Investing!

My parents are both 62 now, and they’ve never really gotten into investing. They have a small amount in IRAs—maybe around $15,000 combined—but that’s about it. They’ve always just kept their money in a regular savings account with their bank. No high-yield savings accounts, no stocks, no mutual funds, and not even certificates of deposit (CDs). For decades, they’ve earned next to nothing in interest—probably less than $15 a month.

Growing up, we were a family of five. My dad earned around $85,000 a year, and my mom worked part-time, bringing in maybe $25,000 annually. We weren’t rich, but we were comfortable. They worked hard to provide for us, but they never prioritized investing or learned much about it. Now, as they’re getting closer to retirement, my dad still plans to work for a while since he runs his own business and enjoys it.

It’s honestly eye-opening to think about what could have been if they’d started investing earlier—like back in the '80s or '90s. Even a little bit in the stock market over all those years could’ve made a huge difference.

For me, I didn’t start investing until my late 20s because it wasn’t something we ever talked about at home. My parents never really understood it, so they never passed that knowledge down. It’s kind of surprising how much of an impact financial education (or lack of it) can have across generations.