“Which didn’t cover her bills” is the key. If you live beyond your means you will never have enough money.
People should get used to this. It’s the new norm imo.
An education is a tool to earn wealth. Young people have ~40 years to make their living for retirement. If they can afford it they should open up an IRA ASAP.
The military and fedgov has the Thrift Savings Plan. I didn’t sign up for it but some who did and took advantage of the opportunity to live off govt provisions (chowhall, clothing allowance, etc) made bank and retired as millionaires after 20 years.
I recommend a self directed IRA. IMO it’s the only way to compete with inflation which is now a global phenomenon. PMs might work too. Everything can be seized by flailing govts so geographic arbitrage is almost mandatory when someone reaches a 7-digit savings. Andrew Henderson wrote a book, Nomad Capitalist, for advice on geographic arbitrage. I think that’s the future. Go where your money’s treated best.
IRA, work like H, geographic arbitrage. Unfortunately, the ‘honey-what-do-you-want-for-dinner’ kids were raised to chase their wants, not fulfill their needs. Sad truth is they are headed to poverty, drugs, misery and death.