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Old 04-08-2008, 08:59 AM   #41
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I had a few finance classes as part of the MBA curriculum. One of the classes was totally useless. It was totally mathematical. Here is an example of a similar (not the same) book that was used: Stochastic Calculus and Financial ... - Google Book Search
I took "Operations Research", a class where the primary purpose was to solve multiple equations with multiple variables, using some gee whiz matrix method that I couldn't explain then, let alone now. I was not very good at it, but the Bell Curve saved me.

A computer could undoubtedly solve these thingies instantaneously...

Anyway, psssst, Wellesley, target retirement fund or something. Let the computers do it.
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Old 04-08-2008, 09:02 AM   #42
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A (somewhat) related article:

FT.com / Columnists / Lucy Kellaway - On monetary matters, nuttiness kicks in.
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Old 04-08-2008, 09:03 AM   #43
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They fling their poop at the stock tables and buy the smears.
That's how Warren Buffett does it.
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Old 04-08-2008, 09:16 AM   #44
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Once I taught a semester-long high school class called Consumer Education that covered things like budgeting. It was a required class back when you had passbook savings and dinosaurs in your backyard.

FinanceDude, if I were a school offical or in a school's parent-teacher group and learned someone who made a living as a FA wanted to talk to the students about finance I would perceive it rightly or wrongly as an indirect (or direct) way for the FA to foster new clients (the kids' parents, obviously not the kids themselves, especially if there would be any contact info provided on worksheets or something like that that might make its way into their homes) and be against it. So I can see what your well-intentioned offer was not accepted.
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Old 04-08-2008, 09:22 AM   #45
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My thoughts on this...

When I retired last year, I looked for volunteer opportunities. One of them was to hold "financial management" classes for the local (non-profit) comsumer credit orgination.

I did the training, and became "certified" (ok, I have a piece of paper with the word "certified" on it ).

Anyway, it's been a year, and I have yet to be called to hold any classes. Apparently, folks don't need classes in managing their money, and they are quite capable of spending it .

So, after almost a year of retirement, I deliver (through the local "meals on wheels" organization) twice a week, and give blood (every 8 weeks) as my "giveback to society".

- Ron
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Old 04-08-2008, 09:26 AM   #46
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1. Spend less than you make.

2. Faith and Patience. Financial intelligence has nothing to do with it.

3. 'God Looks After Drunkards, Fools and The United States of America.'

4, The rest is just hormones - do not let anybody tell ya different.

heh heh heh - how bout that Kansas team - and I hardly ever watch basketball! . A good financial education should take less than 30 seconds - if you speak slowly.
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Old 04-08-2008, 09:38 AM   #47
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FinanceDude, if I were a school offical or in a school's parent-teacher group and learned someone who made a living as a FA wanted to talk to the students about finance I would perceive it rightly or wrongly as an indirect (or direct) way for the FA to foster new clients (the kids' parents, obviously not the kids themselves, especially if there would be any contact info provided on worksheets or something like that that might make its way into their homes) and be against it. So I can see what your well-intentioned offer was not accepted.
Well, I served on the Chamber Board with the principal, who was in my corner. None of my materials contained any reference to my firm. Oh well, I tried.......... Maybe it's better that the kids get into $5,000 worth of credit card debt by the end of their first year of college...........
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Old 04-08-2008, 04:32 PM   #48
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Interestingly, one of my DIL's who put herself through university in three years honestly said to me "I had no idea you could pay off a house early." She also said about 401K's and IRA's "No-one in my family does that."

Since she has been connected to us she has a 401K and is surprised how much the match has improved the bottom line. She is starting to pay a lot more attention since her parents have a snowballs chance to retire at any reasonable age. I don't think she actually read "The millionaire next door" but I did give her a copy.

Some of my friends have asked that I manage their money but I won't as they can see we have no debt and seem to have a nice lifestyle. Sorry, I figured it out by reading and keeping it simple and there is no way I would take on that responsibility. Like some posters have said, LBYM, basic asset allocation, paying attention to fees, no crazy investments we don't understand and not panicking. It is hard to go too wrong with those simple rules.
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Old 04-08-2008, 04:46 PM   #49
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Well, I served on the Chamber Board with the principal, who was in my corner. None of my materials contained any reference to my firm. Oh well, I tried.......... Maybe it's better that the kids get into $5,000 worth of credit card debt by the end of their first year of college...........
I don't know what happened in your case, but your story reminded me of this extract from Early Retirement:

Quote:
You were probably able to retire young because you are vastly more able than the average person. Now should be an ideal time to find a non-profit organization whose goals you share. You would expect them to be delighted at your offer to pitch in as a volunteer, bringing the skills that enabled you to start and grow a profitable enterprise....

Non-profit organizations exist to provide their staff with great jobs and the fun of making decisions and spending money. The folks who work at a non-profit organization are very interested in drawing a salary higher than their skills and working hours would command at a for-profit enterprise subject to competition. They are not especially interested in efficiency or accomplishment. If you've come from the commercial world, in which McDonald's must be ruthlessly efficient for fear of being destroyed by Burger King, working with or in the typical non-profit organization will likely drive you to insanity.
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