You need to prepare your kids for life [“Why We Told Our Kids All About Our Money”], and that includes talking to them about retirement, insurance, college costs, how to buy a house, interest rates, Social Security, etc. My father was a fireman, and my mother was a schoolteacher. Both had side jobs to make extra money. They bought a house for $12,500 in 1960 and sold it for about $45,000 in 1973. How did my brothers and I know all about that? We sat down to breakfast and dinner every day and we talked about it. People need to know how much life costs!