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« The Two Reasons Index Funds Perform So Well | Main | Best Financial Advice from Jane Bryant Quinn »

May 08, 2007


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Educating people would be a very nice start. On top of ignorance, many also have the wrong attitude when it comes to money.

It pains me when I see people blame their problems on "money". I never see people blame their head for having a headache, why blame "money"?

Are you able to pull your initial investment from an index fund if necessary??


Thanks for mentioning this. I think that Bernake is right, either parents need to start teaching their children about money property or they children learn by default and therefore pick up their parents habits, either good or bad.



Even in college, they don't teach you jack about finances. I have a associates, bachelor's, and master's degree. Amongst all the "general education" classes I have had, none have had to do with personal finance. Which would benefit our young people more; a semester of learning to be financially responsible OR a semester of genetics for every student in the school. My major state University would rather I learn how the male chicken does his thing to the egg, than for us to learn how to use credit cards wisely. Of course, that'd mean they couldn't bombard us with school themed credit cards either....

I work for a non-profit that works to send low-income, first generation high school students to college. The ED is very focused on working with them to get them socialized and provided for, but had not thought about (until I said something) educating them financially. We certainly don't want to get these kids free rides to college but have them overspend and leave with credit card debt! And because they're first generation to college, many of their parents don't even have checking accounts...a financial education is so important.

Andrew, you bring up such a good point. Do they want their students in debt?

I can only assume that they do, since not a single core class has anything to do with personal finance. I knew nothing about money, credit, debt, mortgages, or investing when I graduated college. I didn't know how to fill out a 401k. My first job out of high school I was clueless about how to properly fill out a W2, let alone file my taxes to the IRS. There is zero finance education in the school system, unless you count the month we spent in first grade learning how to count coins.

Totally Agree... The best gift a parent can give to thier kids is to teach them about money and how to win the money game. I'm into teaching ppl about financial literacy and how to generate income rather then just working time for money.

I followed T. Harv Eker's and Bob Proctor's teaching in wealth creation.

Jason Tan

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