Click on the post for an article in the Appleton newspaper that discusses the proposal of the Wisconsin DPI that would establish standards for "financial literacy" instruction in our schools.
The thought is that with financial literacy, one would not excessivly use credit card debt and would save more.
It is unclear whether this instruction could be added to current curriculum or be an additional unfunded mandate so to speak.
I am all for course content in financial matters. I may have a little jaded perspective having worked in the hospital setting, and also having seen lots of retirement assets as a financial advisor, but without quality jobs and quality health care, the numbers never will add up.
Thus, I am amused by newspaper articles that berate the baby boomers for not saving enough in their 401K accounts. The articles are ALWAYS written by financial types who get commissions for such investments. These are the same baby boomers that are caring for their elderly parents and children attending college in an environment of "all loan" student financing.
A broken arm in 1960 maybe cost $500. Today--$10,000.
As the spread widens between the rich and poor today as it did in the 1920's it is simple minded to point to one magic bullet to solve it all. Only quality jobs and quality health care plus quality education may be the beginning of the answer.
O.K. ocasionally I do like to tell it like I see it.
Now, you make the call.
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This class should be a requirment before graduation simple. It is then up to each person to use it if they wish. I am sick and tired about people complaining about no quality jobs, healthcare, etc. then spend way above their means for vacations, nice cars etc. then bitch they have no money and declare bankrupcy. If you want a good high paying job unless your parents own a business you have to work your ass off to get them. I know of many people who never made above 50,000 in their lifetime who can retire as millionares by the age of 60. Work from the bottom up if you have to. I started as a CSR making 28,000 7 years ago, went into sales now own my own business. quit bitching that everything should be handed to you.
ReplyDeleteI am going to guess from what you have said and wrote you and I are around the same age. I doubt know what your financial advisor has been telling you, but by the time we are old enough to retire, a million dollars will not be enough.
ReplyDeleteI think the majority of people out there know that you have to work for what they get and are willing to do that., and also even when your parents own a business you still have to work your butt off. Thats what it is all about.
I agree with you. a million will not be enough I am in my early 30's and yes a million now and a million 30 years from now will be a big difference. I work with the printing industry and I agree with you, I may not have said it correctly, but from what I have seen children of busineses owners some work their asses off but they do not normally start at the bottom. There are people out there and quite a few that think they should make 100,000 a year no questions asked. Not everyone can make a lot of money if we all did the price of a candybar would be 10 bucks (well it is at the pig). What you have to do is live within your means and invest wisely.
ReplyDeleteSlammer,
ReplyDeleteFor a guy in love with expensive oil, you sure are hard on the Pig!
I agree the pig is pricey and I can't affprd tp do 100% of my shopping there. Although it does appear that some people do they bulk of their shopping at the Pig (certainly the minority).
It would be nice if they had Woodman's prices, but they don't have that kind of buying power or the volume to price that competitively. You my pay more than you would like to for picking up necessity's, but it sure is nice to have a store in town. I am glad I don't have to drive to Oregon or Broadhead when I need to pick up a few things to get through the week. I think they serve a niche (somewhere in the middle of a Woodmans and a convenience store). They price how they have to, because they don't have the volume or the buying power of Woodmans. They also have pretty good deals in their weekly advertisement.
this has gone way off course but a good topic. i have some very good inside information that the pig prices are constantly 10-15% higher margin points than woodmans. not buying power per se but the margin rate they are getting on products. I am hard on them, but hey they are the only player in town. Think if they were Donkey-Wonkey how hard I would have to be on them. Just kidding
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