As you get older and hopefully begin to accumulate money, it is important to learn how to invest it. Today, too few people have any idea how to save and even fewer have the knowledge of how to invest money for their retirement.
I was lucky because when I was in my early twenties, my father made it a point to teach me how to buy stock. It wasn’t something that I was particularly interested in but he made an ultimatum: either I listened to what he had to say or I could kiss any chance of inheriting money from him goodbye.
Looking back now, I realize how lucky I was to have parents who not only taught me how to save but also were willing to teach me what to do with my money in order to invest it wisely. Most kids today are not that fortunate as the number of households that are in debt continue to rise. We have a society made up of spenders and not savers which means today’s younger generation is not going to be in a good position down the line when they reach retirement age.
It could be argued that things like investing, saving, and finances should be taught in schools. In fact finance is taught in many schools. However, kids really learn when they see their parents doing something. If they see their parents spending without regard, they will assume that is the right thing to do. Right now, too few children have the right financial role models at home and no matter how good a job the schools do, the kids parents play the biggest role.
Credit cards are misused by so many adults and parents that it gives kids the wrong ideas. Not everyone can be as lucky as I was to be born to parents who were financially responsible and it means a troubled financial future for many of them if they don’t learn new ways. Hopefully youngsters will start to realize that there is a better way than going deep in debt. Hopefully enough of them will decide to take their futures into their own hands and start learning about how to save and how to invest. Hopefully they will do it soon!