[...] We hope these parallels have helped to bring additional clarity to your thoughts on investing. For more on this topic, check out our video blog called Investments and Prophecy. [...]
This man is correct. You must listen to what he is saying. Bryan, thank you for expressing your passion in these video blogs and on the air each Saturday. I really like the new intro and production quailty on this video too!
Bryan, You give very sound advice. i’m 81, in good health, have an aerospace pension, plenty of savings and I have done my own personal investing in ETF’s, Index and some Mutual Funds, for many years.
I think the biggest failure in our educational system is a total lack of’ ‘personal financial training’ in our school systems at any level. I don’t think even 1 out of 25 adults have a grasp of their own personal financial situation and thus are at the mercy of the financial institutions, or worse, will lead a very uncomfortable retirement by depending on the government and die with debts. I can think of at least 5 subjects that I would trade for this one.
I think that personal financial education should begin in kindergarten and continue through college. I think someone like you with your knowledge and youth should consider making this a ‘signature goal’ to make the future citizens financially savvy and independent. There are hundreds of financial gurus and books on the subject of finance, but they are all aimed at adults most of which are in their 50′s who finally realized they have little ‘net worth’ to live on for 30 years. You would aim your 16 year ‘financial curriculum’ at the book publishers and teachers and school systems that would set a goal to teach ‘personal finance’ to every student over a 16 year period. Can you think of any course of study more useful to everyone?
It would not have to be a daily course, but it should include teaching, assigned reading, portfolio generation and management assignments that are followed for years mixed in with financial mathematics and financial history as the students progress in age.
The results over time could be life-altering for its citizens and financial-altering for America. Financial self reliance of a large segment of the population would mean less public welfare, lower taxes, fewer financial scams. stronger dollar and personal and national pride in accomplishment.
The math is immutable. A $10/hour wage-earner can retire with well over one/half-million dollars if they have the discipline to start early and save just 5% (1 $ out of every 20) of their salary assuming only a 1% annual raise over their working lifetime to 68 and an 8% annual index fund return. Then in retirement, withdrawing 4% or about $20,000 + each year indexed for inflation they still might leave a nice hundreds of thousands for their heirs.
How many high school seniors have any clue that this is possible? How many can define ‘compound interest’ the 8th wonder of the world?
A perfect opportunity for a ‘white knight’ to change that ignorance ! Think about it !
Sincerely…..Gene Adam
Thanks Gene. I really appreciate the lengthy and detailed post. Sometimes I get tired of banging my head educating people and dealing with financial people who hate that they are being exposed for what they are but when I hear from somebody like you it reminds me that I’m helping and being heard. You are absolutely correct about the educational system and we really need something. Another thing that really is needed would be someone to educate people on how stores and marketers manipulate people into buying things and going into debt! Funny you mentioned that about the $10 an hour person because I have a client who fits that bill to the T! His key–he saved 20% of his pay a year and is a champion at negotiating. In fact, he taught me how to negotiate things at stores. Appreciate you!
[...] We hope these parallels have helped to bring additional clarity to your thoughts on investing. For more on this topic, check out our video blog called Investments and Prophecy. [...]
This man is correct. You must listen to what he is saying. Bryan, thank you for expressing your passion in these video blogs and on the air each Saturday. I really like the new intro and production quailty on this video too!
Bryan, You give very sound advice. i’m 81, in good health, have an aerospace pension, plenty of savings and I have done my own personal investing in ETF’s, Index and some Mutual Funds, for many years.
I think the biggest failure in our educational system is a total lack of’ ‘personal financial training’ in our school systems at any level. I don’t think even 1 out of 25 adults have a grasp of their own personal financial situation and thus are at the mercy of the financial institutions, or worse, will lead a very uncomfortable retirement by depending on the government and die with debts. I can think of at least 5 subjects that I would trade for this one.
I think that personal financial education should begin in kindergarten and continue through college. I think someone like you with your knowledge and youth should consider making this a ‘signature goal’ to make the future citizens financially savvy and independent. There are hundreds of financial gurus and books on the subject of finance, but they are all aimed at adults most of which are in their 50′s who finally realized they have little ‘net worth’ to live on for 30 years. You would aim your 16 year ‘financial curriculum’ at the book publishers and teachers and school systems that would set a goal to teach ‘personal finance’ to every student over a 16 year period. Can you think of any course of study more useful to everyone?
It would not have to be a daily course, but it should include teaching, assigned reading, portfolio generation and management assignments that are followed for years mixed in with financial mathematics and financial history as the students progress in age.
The results over time could be life-altering for its citizens and financial-altering for America. Financial self reliance of a large segment of the population would mean less public welfare, lower taxes, fewer financial scams. stronger dollar and personal and national pride in accomplishment.
The math is immutable. A $10/hour wage-earner can retire with well over one/half-million dollars if they have the discipline to start early and save just 5% (1 $ out of every 20) of their salary assuming only a 1% annual raise over their working lifetime to 68 and an 8% annual index fund return. Then in retirement, withdrawing 4% or about $20,000 + each year indexed for inflation they still might leave a nice hundreds of thousands for their heirs.
How many high school seniors have any clue that this is possible? How many can define ‘compound interest’ the 8th wonder of the world?
A perfect opportunity for a ‘white knight’ to change that ignorance ! Think about it !
Sincerely…..Gene Adam
Thanks Gene. I really appreciate the lengthy and detailed post. Sometimes I get tired of banging my head educating people and dealing with financial people who hate that they are being exposed for what they are but when I hear from somebody like you it reminds me that I’m helping and being heard. You are absolutely correct about the educational system and we really need something. Another thing that really is needed would be someone to educate people on how stores and marketers manipulate people into buying things and going into debt! Funny you mentioned that about the $10 an hour person because I have a client who fits that bill to the T! His key–he saved 20% of his pay a year and is a champion at negotiating. In fact, he taught me how to negotiate things at stores. Appreciate you!