By now you've probably heard about the class of fifth graders in Wisconsin who won the state-wide Stock Market Game. In 10 weeks they more than doubled their imaginary $100,000 portfolio ending with $203,000. Not only did they beat out all the other school kids, but most professional investors as well. We should all do so well.
What a great program for school kids. I have 3 great nephews in the Wisconsin school system. Just got back from visiting them in Eau Claire. I'm happy to know that they live in a state that values the importance of educating young people in finance. If you've never been to Wisconsin, I would recommend visiting. I really enjoyed my stay there and of course I had to pick up some cheese to bring back with me. My only regret was that I didn't have more time to visit.
Showing posts with label financial education. Show all posts
Showing posts with label financial education. Show all posts
Monday, June 1, 2009
Sunday, May 31, 2009
The Richest Kids in America
Just watched an interesting video on cnbc about a new book coming out June 5th. It's titled, "The Richest Kids in America" and is written by Mark Victor Hansen. Looks very promising as a "must read" motivational type book for kids and parents alike. If you'd like to view the video, you can find it at:
http://www.cnbc.com/id/15840232?play=1&video=1136235385
Since I grew up with very little training in financial matters, I've always been a big proponent of educating your children in personal business and finance. I believe it's one of the most important jobs we have as adults, to teach our young people how to make it on their own. There are many books and tools at our disposal, like the one mentioned above. Just be sure to make your lessons age appropriate and entertaining to hold their interest.
http://www.cnbc.com/id/15840232?play=1&video=1136235385
Since I grew up with very little training in financial matters, I've always been a big proponent of educating your children in personal business and finance. I believe it's one of the most important jobs we have as adults, to teach our young people how to make it on their own. There are many books and tools at our disposal, like the one mentioned above. Just be sure to make your lessons age appropriate and entertaining to hold their interest.
Friday, August 8, 2008
Enough With The Wining!
I just sat through another mind numbing "news" program about the problems with the U.S. economy and the inability of our political system to address the issues. Yeah, O.K. we all know what the problems are. Is it really helpful to anyone to carry on these endless debates in the news media about how it is just impossible to solve all our country's problems? Does this really accomplish anything? They always say they are, "addressing the issues." I think they are confusing "addressing the issues" with giving an address about the issues. If all the people who proclaim to be so concerned about the problems facing our nation, are truly concerned, wouldn't it be more productive to concentrate on proposing real workable answers to the problems, instead of endlessly wining about how we're faced with insurmountable dilemmas?
The show I was watching was about the millions of poor people in the U.S. and how companies are targeting these people for their collective wealth, estimated to be around $650 billion. Speaking as someone who comes from this group, I don't want any one's pity, I don't want any one's handouts, all I've ever wanted was the knowledge to rise above my humble beginnings. Has anyone ever seriously considered educating the poor to deal with their own problems? I do know of a few people who advocate financial education, but it has never, to my knowledge, been proposed as a solution to the generations of poverty stricken families here in our country. It is no big secret. Anyone in this country can rise above poverty if they have the desire to do so. They may not know how, but there is a simple solution to this problem as well. I personally believe that the book, "The Richest Man in Babylon" should be required reading in all our public schools. ANYONE who follows the advice set out in this simple, easy to understand book, will do well in life. And if we truly want to address economic issues in this country, then we need to start a grass roots campaign to end financial ignorance and illiteracy. In one of the parables in the above mentioned book, the King of Babylon desires that his city should become the wealthiest city in the world. So he sends for the "richest man in Babylon" and asks that he teach others his secrets to acquiring wealth and building an estate. As this wise old man in the book states, "Anything that one man knows, can be taught to another." So, if we truly desire to end poverty in this country, if we truly desire to lift the financial burdens from the poor, then welfare and social programs should only be temporary and for the poorest of the poor. Financial education should be the cornerstone of any true campaign to eliminate poverty in this country.
The show I was watching was about the millions of poor people in the U.S. and how companies are targeting these people for their collective wealth, estimated to be around $650 billion. Speaking as someone who comes from this group, I don't want any one's pity, I don't want any one's handouts, all I've ever wanted was the knowledge to rise above my humble beginnings. Has anyone ever seriously considered educating the poor to deal with their own problems? I do know of a few people who advocate financial education, but it has never, to my knowledge, been proposed as a solution to the generations of poverty stricken families here in our country. It is no big secret. Anyone in this country can rise above poverty if they have the desire to do so. They may not know how, but there is a simple solution to this problem as well. I personally believe that the book, "The Richest Man in Babylon" should be required reading in all our public schools. ANYONE who follows the advice set out in this simple, easy to understand book, will do well in life. And if we truly want to address economic issues in this country, then we need to start a grass roots campaign to end financial ignorance and illiteracy. In one of the parables in the above mentioned book, the King of Babylon desires that his city should become the wealthiest city in the world. So he sends for the "richest man in Babylon" and asks that he teach others his secrets to acquiring wealth and building an estate. As this wise old man in the book states, "Anything that one man knows, can be taught to another." So, if we truly desire to end poverty in this country, if we truly desire to lift the financial burdens from the poor, then welfare and social programs should only be temporary and for the poorest of the poor. Financial education should be the cornerstone of any true campaign to eliminate poverty in this country.
Subscribe to:
Posts (Atom)
