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Old 09-13-2018, 11:33 AM   #21
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Ha! I was at a party a few months ago where many guests were high school and Jr. high school teachers.I

I'd rather they didn't give financial advice to the next generation.
I am a firm believer that every kid should open and use an eBay account and invest in a mutual fund as early are legally possible. Those two things alone will teach him or her more about free markets/finances, supply and demand and the power of compounding more than anything else.
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Old 09-13-2018, 12:26 PM   #22
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I always get a kick out of any of those percent-of-income or multiple-of-income rules of thumb. As I have written many times in this forum before, twice I reduced my weekly hours worked in the waning years of my 23-year career. So, the obvious question I ask in this context is, "Which income should I use, my full-time income, my initial part-time income, or my extra-reduced part-time income?"
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The lesson here is to keep it simple
Old 09-13-2018, 12:31 PM   #23
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The lesson here is to keep it simple

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The few articles that would actually explain the deeper mechanics would be tossed aside by the average reader
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Old 09-13-2018, 12:37 PM   #24
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Think about it. It all starts in school with typically no personal finance classes. Wouldn't those classes be more important than economics for example?
I agree. Kids graduate and have zero knowledge of finances while living in a fairly freewheeling capitalist economy. I had to be the educator for my our son. Of course, my mistake was waiting until he was at the "parents know nothing" age. Now that he's been a working stiff for a few years, he gladly spends time with me learning LBYM and investing 101.

I say this with GravitySucks (post #20) in mind, that our current crop of educators are particularly unfit to teach family finances. That said, they might excel at same in a Marxist economy.

Combined with a lack of education is the multi-billion dollar marketing industry, filled to the brim with highly educated SME's, that are targeting these same kids with powerful messaging designed (quite successfully) to part them from their money.
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