Okay, so here’s what I’ve learned here today in my thread. Don’t bring up money management as part of education to people who talk like liberal communists that feel society is to blame for our own ignorance when it comes to capitalizing in a free enterprise materialistic society. I guess it’s taboo. I point a simple time proven methodology called the power of compounding, and the claws of some very nasty spirits come out to prove just how nasty people can be. I never said my way is better than anyone else’s. I just suggested proper asset allocation and long term dollar cost averaging using the Rule of 72 might be a great thing to teach our kids, but again I was called a preacher, that this type of education is not appropriate material etc. I would gander to say that the vast majority who did not reply and those who had kind words were actually the majority. I appreciate your feed back. To the negative and nasty replies well, it doesn’t surprise me that even in an intellectual forum there can be found vitriol and rudeness. May I point out it’s nothing different than we see now before us nationally, constant vitriol, constant hateful retorts launched from both sides against a middle ground that is ever widening. I did come here for conversation and with a simple post found once again the root of negativity that seems daily to grow in our nation. Who would have thought suggesting the power of compounding to an intellectual forum like this could be thrown back in my face twisted a hundred different ways. Incredible derision and division concerning not theory but a proven postulate - that time, education, investing ones hard earned money, investing a life working in a trade might be an alternative to high dollar high stress college. I was just suggesting that we truly need tradesmen and women to build our nation. We can’t all sit in front of a computer all day. We need jet fighters, we need so many people to fill great paying jobs that require no college. This was my was point. I never said don’t stress college. I simply asked how many teach their kids there is a vast world of jobs and opportunities outside of college? I know a young man who 25 years ago stepped out of the hood, high crime, drugs etc.. and became an electrician. Today this same great success story works in Afghanistan as an electrical Superintendent in charge of projects earning tax free money of over $250,000 per year all expenses paid. He drives a Lamborghini, his weakness but hey, the kid from the hood loves fast cars and paid cash. The rest of his money is invested wisely not because he lucked out, but because a guy like me taught him over 25 years ago that just because society looks down on us construction workers without college degrees, don’t let it stop you from your dreams and your greatness and your financial success. He’s another millionaire electrician where hard work and great work ethic paid off in trumps. So who am I to preach here? I’ve helped and taught thousands in my career both men and women much much more than electrical work. I taught them to never let the negativity of others stop you from your dreams, no matter how nasty others can be and will be. I taught them the power of compounding and investing using time. I taught them how to take their tools before them not only to build massive projects like but to take everything they had to make their dreams come true. Yes, I’m a preacher so to speak, and faith has played a major role in my life. The power of faith in God, in self, in helping others always even through the dark valleys of others negative vitriol I learned long ago you just can’t that ever slow you down because the world is full of others who say it’s impossible, it’s not going to work, it’s not relevant, you’re an idiot, you’re a preacher, and on and on. Well, I’ve got my castle, I’ve got my Queen, I’ve got my faith, and the more I learn the more I realize I know nothing. Just a humble soul this morning trying to just point a few things that truly work. Maybe hard work and using time to grow wealth are just to old school. Maybe trying to help others with 54 years of living the dream and seeing my dreams come true is just to old fashioned. Maybe striving always to help others is just not in Vogue anymore. But maybe not. God Bless Always

There is nothing unrealistic about a young person living at home from 18 to 25 investing only $20,000 per year at 8%, having at 26 approx $192,000 and from then on every year for 40 years a mere $12,000 per year is saved at 8% and by age 65 to 66 having over $7.5 Million dollars. The realistic part of this simplistic road to educating others in its simplicity is that the majority will say and program themselves and others that it’s unreal, not achievable because most people thrive on negativity and saying everything is impossible. I simply point to the vast majority of the poor who then blame government and everyone else for their lack of trying. A person in this thread that this lofty goal is just unrealistic. That is correct because the fact is most humans set themselves up for failure before they ever soar. Dreamers like Elon Musk, Jeff Bezos, and so many other great achievers were told I’m 100% positive that their dreams were impossible. I was told by co workers and friends my goals were unrealistic and I would never reach my dreams. We teach that a lot in our society. Simply saving and investing and educating our kids there are other very successful roads they can take is not unrealistic but very simply achievable. As far as those here who try to point out misspelled words, I have no time for petty attacks. I will never use words attacking others here like you spout off this or that. I will stand firm though that a very simple subject like money management can be turned upside down, inside out and created into something so negative by so many. Why? What’s wrong with educating our youth how to invest. I never used the word trade, as someone here insinuated. I said invest long term for 40 years using the power of compounding but then it gets twisted into trading and something I’m totally not discussing. I can see now just by the replies why America can’t save and invest using the power of compounding. The lack of educating our youth as to how possible and easy it is to use time, money earned, and the power of compounding to use our money to build wealth is quite apparent on a national level. Do we as a family practice what we preach? Yes. Every dollar our two sons earn we invest long in the markets for decades of returns to come. We are slow moving turtles just using the time proven methods that work. We don’t try to reinvent what works. All I wanted to point is more money management could lead to financial success instead of being broke at 65. I entered a home about three weeks ago in my line of work. I asked the bank representative what had happened here. It was a $3.5 Million home. The man who lived there with his family was living way beyond his means, got sick and died of cancer young. He had no emergency funds, no cash, but was debt laden. When he fell, it destroyed his families standard of life leaving them devistated the bank rep told me. So again, my only point is very simple. Money management education at a very early age is critical and should really be pressed and taught. Yes, only living and doing it and falling and failing will truly teach, but giving our kids an edge could possibly stop the pain of failure. BTW... I filed bankruptcy on my way up the ladder. It taught me what not to do. Lessons learned. But our kids can do better with our guidance and excuses are for losers. Education is for those seeking a well trained mind. Just humbly suggesting, NOT PREACHING, for anyone interested, just show your kids the money chimp calculator for a realistic picture of how time and I interest yield works over time, its really as simple as starting there, unless you feel bashing me is more productive for their long term success. God Bless Always

Our society has many issues but two main ones are the massive lack of skilled workers across a broad spectrum of our economy and our personal debt levels are now moving higher than levels we saw in the fall of 2007. The point I was trying to make as a fellow home schooler that if massive personal debt was just a lack of common sense we would not have such a massive problem with it. I just wanted to say we must educate our children in the many ways of money management. Tony Robbins has many educational money management books on tape that can be used. He has comprised educational solutions from the worlds richest and smartest money managers like Ray Dalio, Paul Tudor and others like Warren Buffett. Our children face a jungle out there. From my experiences the vast majority of society are clueless, and sadly unprepared for financial success, because we don’t teach our children enough concerning money management. Yes, I’m saying that even government whose job it is to bail out financial crisis should also help educate our children in how to manage money better, even to the point of teaching the power of compounding and many many other techniques. Why? Because as a nation we are failing and creating more debt in all sectors of our society. I’m also advocating as an alternative to college that our trades and jobs with high paying salaries, bonuses and bright futures are out there for those who do not want college. College is great but not every child will seek their passion there, not even as a stepping stone. We need to become stronger I think in the basics of reading, writing and real world math we as adults use every day in life. How many articles on the Internet do we read daily that college educated writers fail to edit? Over the past five years it’s gotten terrible. Are there not simple old school solutions that have been cast away for far to long that work, that maybe we should look at in such a complicated world? One more morsel for thought. It’s a totally different subject concerning education. Without larger, stronger families our nations heritage and entire future will incur major economic problems whose dimensions are so far blind to the present. Without babies, without grounded growing healthy financially wise young adults getting started off in life on the right foot, our country will not have the manpower to continue its growth. By far our greatest national security concern is not just the lack of money management on every level of society, it’s the demise of faith, the demise of strong families and the continued trend of a dwindling birth rate. Without babies our nation crumbles. Unless of course we have massive increases in immigration which will change America’s current cultural norms. That’s a whole book entirely onto itself for well trained minds. We have a dark future without babies being born. In my opinion we need another massive baby boom but society will find 1000 different excuses why it can’t and won’t happen, which proves my point. We won’t have well trained minds unless we educate our youth as to the purpose of growing healthy families vs playing virtual reality games until we die. Things to ponder.

BTW, A 25 year old who invests and has $192,000 who lived at home without college who goes on to marry at say 26 but still contributes $12,000 annually for the next 40 years at an average yield of 8% will have as a married couple over $7.5 Million dollars. All because that young person lived at home and invested with the help of parents and built his or hers nest egg quickly while young. We don’t teach the importance of time and how getting started young and fast is so vital to financial independence. We just don’t teach old school ways to financial independence. Our society is heavily debt laden with educated debt laden masses, not wealth building investors. College is great for many. Higher education is a great path as well but without teaching the power of compounding early, debt can kill ones future.

Regentrude, I have no precise point. There are many points stemming from the lack of money management education of our youth. I do know this as fact though, the current lack of education concerning money management skills and the current trend of $1.3 trillion in college debt will continue moving ever higher. College costs will continue moving higher as enrollment falls. Something will break eventually with this insane equation. My main point reverts to the lack of money management education. So Regentrude you tell me how $1.3 Trillion in debt in our sector of higher education is good for individuals and inevitably our national economy? It’s worse than the CDO scam of the 2008 financial crisis that destroyed much wealth of the most educated people in our country. Our college system is more worried about churning out young adults laden with life long debt vs real world solutions like money management skills. The real truth is I’m afraid that I could teach an 18 year old money skills and a trade vs huge massive debt college offers. I could teach a young man to become a tradesman who could live at home until 25 or so who invests in dollar cost averaging vs. giving his hard earned money to a professor. I could teach him the power of compounding and how from 18 to 25 he would be debt free, fully invested, with over $192,000 or more by the age of 25. I could suggest living at home, learn a trade, invest almost 100% of his or hers income while living at home until 25. Suppose he or she could dollar cost average $20,000 or more for only seven years at an average yield of only 8%. That’s $192,000. Move forward in time with the formula and helping ones child and it becomes millions of dollars for retirement. My young adult, free of college debt, working say as a Toyota mechanic using the power of compounding and living debt free under my roof would be wise money management, don’t you agree. I’m not saying my formula is better than anyone else’s. I’m suggesting that a well trained mind is much better off than massive debt from a college education invested wisely can far out run the majority of college degreed people using the power of the Rule of 72. So what is my point? Using the Rule of 72 and zero debt vs massive college debt is a wise money management skill we could teach our children nation wide but won’t because it attacks the myth that a well trained mind must become a debt slave to the institution of Colleges and a supposed higher education. All I see is a nation whose young adults are drowning in $1.3 trillion in debt. I offer old school solutions versus the need for advanced math that most will never ever need. I’m saying college is not for everyone, there are other solutions. I’m saying open back up the old school of common sense. It has value and trades have value. Financial independence and wise money management far outweighs the slavery of debt as our nation continues to feed this myth that a college education promises success and riches. My point is there are many other solutions and roads to a well trained mind. I’m living proof. I’m self taught and in 2008 I made huge amounts of money not from a college education but because I educated myself with knowledge of the world around me. It was called money management. My point is we are not teaching wise money management skills. The evidence of this statement is irrefutable and surrounds us. My point is why do we keep doing the same old things expecting a different outcome. That’s insanity. My point is why are we not teaching more about what works and what does not work concerning educating our youth in wiser money management skills. We are failing them in whole as a nation. I will ask you and others again? How many in society are financially ready for retirement and older age? Not many at all. Why?

As I look at our economy and the sorry state of personal finances from the highly educated to the poor, I ask myself, does it have anything to do with cooking skills? The answer is no. It has to do with a total lack of education and training how to make money with money. It has to do with a brain washed society that teaches college is the correct destination after high school before real life begins. College has created in our youth over $1.3 trillion in personal debt and its only moving higher. Most graduates leave with a diploma and an average debt of $45,000 and sometimes triple or even more. Success is not merely measured by a college education. My architect and engineer friends tell me all the time colleges are turning out kids right out of college who want big money but can’t function in the real world. They must totally relearn what colleges fail to teach. This is from professionals in the real world who meet head on fresh college grads totally focused on wanting more money but offer no real world value or experience. Our country is entering a crisis that is getting worse. Our Air Force lacks 4,000 mechanics, 2000 pilots and many other positions. Our tradesmen in construction are on average nearing 50 years old with very few young people entering the trades. Our country lacks people who can get things done, from flying jets, to driving a nail, to twisting wires to get the lights on. I’ve spent over 40 years in building and I’ve persinally seen the degradation of our trades, our work ethic, as our society pushed for college educations. There is a huge demand for Mercedes mechanics or Toyota mechanics that can earn over $100,000 per year. There is huge value, demand and success awaiting those young men and women who may not want college educations and $50,000 in debt at 22. The trades are starving for highly intelligent motivated young people to take over where we 50 plus year olds are now retiring from. Yes, I’m old school and a multimillionaire who never went to college. With the education of the power of compounding, old school hard work ethics, I’m here to say not all success is measured by a college degree. The world has fabulous opportunities in job careers that don’t cost $100,000 in debt to get. But our public education that feeds the professors in college will refuse to teach what the Swiss have been highly successful with. Vocational trade education that can lead to higher education later in life. I’m just old school.

“How do you define "value we add to others"? You are on a homeschool board here, and this statement is highly offensive to many parents here who stay home to educate their children and would argue that parenting and educating adds a lot of value, but does not lead to money. And how do you define "success"?†I wonder how Elon Musk, Jeff Bezos, Tony Robbins, Opra, Mark Zuckerberg, or other highly successful people would define “value we add to othersâ€. Success is not all about money. Adding value to others lives is not all about money. I certainly did not mean to insult anyone. I merely asked why we don’t require teaching money management more and was trying to point out not emotion but fact as we look out at our country and how personal debt is but one pay check away from disaster. We need to fix this with education. How do we teach future generations how to manage money better? It affects not only their personal lives but our nation as a whole. As far as Algebra 2, I’m sure there are many people who need it, and I was only trying to point out it’s totally useless to those who don’t. The above mentioned billionaires most likely do not need Algebra 2 in their daily lives. As far as the power of compounding and using Allegra 2, I use the money chimp app. I apologize if I offended you or anyone else.

After working as an electrical Superintendent for over 30 years I can say with personal experience that in my field one can easily make $150,000 or more per year. Some may call he trades a stigma but I found some young men who realized they could be very successful as an electrician because they were in the minority and that really intelligent tradesmen are in great demand globally. The Swiss realize the tremendous value of hands on early training in the vocations. They don’t let possible litigation stop their wonderful way of teaching. I grew up under a system just like the Swiss. I was exposed as early as 4 years old and throughout my young life before 18 many different real world skills as my parents and grandparents owned their own construction businesses. Was this early education valuable? Absolutely. I was light years ahead of the herd. Within 18 months of entering the electrical trade I was a journeyman electrician running work as a Superintendent. My value or hourly wage tripled within my first three years because I was trained early in life. I was also taught about investing money and money management at an early age so the money I made I invested. The Swiss have a great understanding of how to teach. We are beginning to realize this more.

I’m new here and a father of two home schoolers. I would love your feedback concerning one of the most important aspects of all of our lives. MONEY Management. Why is it that our country faced with so much personal debt that we don’t require in high school at least one full year say in the 12th grade or even earlier money management. Why do most college educated adults leave college having never learned the power and principles of the Rule of 72 and the power of compounding and that the earlier one begins dollar cost averaging in life the more they will have in retirement? If you asked a college grad to define a well balanced asset allocation plan or the difference in a traditional IRA and a Roth IRA could they? In this course we could teach how ones personal value and success in life will be directly proportional to the value they add to the world and others. The more value we add to others, the more money and success we are most likely to see. My proof education like this is needed in our country is in as they say, the pudding. This education would affect not only personal finances but our entire national economic security and politics in many ways. So, why is it in our country that we don’t require something so important yet we require Algebra 2, which in 54 years I’ve never met one person who told me they actually use in their daily tasks at work. From engineers to architects I’ve personally known, not one has said they use it. They may use a computer APP but as far as spending their companies time and money on long math all day, no, that’s not productive nor profitable. When are we going to realize we need to require teaching Money Management?

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