What Schools Should Teach About Personal Finance

recognize bad financial advice
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2 Responses

  1. very true. mrs. smidlap just retired (i still work). a young colleague of hers asked a simple question “how did you do it?” she apparently is interested in this vague buzzy notion of “generational wealth.” i don’t know the young lady but sent over my copy of your money or your life for some philosophical perspective. if she reads it and returns it i promised to review saving and compound interest and simple steady investing. back to your point the thing i emphasize most is self-education. please read a few alternative viewpoints. even if a person feels better with a paid financial advisor there is not excuse for a basic level of financial education to at least be able to ask the right questions. rarely do people follow through as they want to jump straight to generational wealth by wishing it.

  2. steveark says:

    Points well made. Buying a house made great sense for me because I bought an affordable home and we are still living in it 43 years later. But how many people do that, one in a hundred, if that? I also only worked for one company and still am married to my first wife. The best advice for me is going to be terrible advice for a single thirty something in a high cost of living area who changes jobs frequently.

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