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Old 06-23-2021, 10:41 AM
 
Location: The Ranch in Olam Haba
23,707 posts, read 30,788,854 times
Reputation: 9985

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Originally Posted by camaro69 View Post
Willing to bet some serious money that at age 18 most of the accounts if still opened will be $100 plus interest.
Have you looked at what today's interest rate is? Plus what will be the threshold/cut off for NYC to place funds into what is basically a 529 account?
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Old 06-23-2021, 11:47 AM
 
3,352 posts, read 1,243,034 times
Reputation: 3914
maybe when these kids are in high school the schools can teach them about personal finance instead of all of the useless nonsense they teach in HS.
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Old 06-23-2021, 03:15 PM
 
34,135 posts, read 47,363,401 times
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Originally Posted by djohnslaw View Post
maybe when these kids are in high school the schools can teach them about personal finance instead of all of the useless nonsense they teach in HS.
They taught us how to balance a checkbook junior year, those types of classes disappeared

Oh well I don't use a checkbook anymore ¯\_(ツ)_/¯

Time to teach them about crypto, NFTs, dividend stocks, investing period
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Old 06-23-2021, 07:46 PM
 
1,046 posts, read 470,522 times
Reputation: 903
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Originally Posted by SeventhFloor View Post
They taught us how to balance a checkbook junior year, those types of classes disappeared

Oh well I don't use a checkbook anymore ¯\_(ツ)_/¯

Time to teach them about crypto, NFTs, dividend stocks, investing period
The truth is the 1% don't want the majority of people to be financially literate because the more we know their games, the less labor we're willing to sacrifice for a pittance and the more we invade their investments which is why hedge funds are freaking out about retail investors catching onto their short sales on the market for AMC and Gamestop.
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Old 06-24-2021, 09:37 AM
 
Location: Brooklyn, New York
5,466 posts, read 5,721,977 times
Reputation: 6098
Quote:
Originally Posted by SeventhFloor View Post
They taught us how to balance a checkbook junior year, those types of classes disappeared

Oh well I don't use a checkbook anymore ¯\_(ツ)_/¯

Time to teach them about crypto, NFTs, dividend stocks, investing period
They need to teach the basics. Pension funds such as IRA, Roth IRA, 401K, mutual funds, ETFs, time value of money, inflation, interest (including student loans), how credit cards work, how mortgages work, how to save, how taxes work, how bonds work, etc. Even most adults do not know the bare minimum.
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Old 06-24-2021, 09:45 AM
 
Location: Brooklyn, New York
5,466 posts, read 5,721,977 times
Reputation: 6098
Quote:
Originally Posted by Trisky View Post
The truth is the 1% don't want the majority of people to be financially literate because the more we know their games, the less labor we're willing to sacrifice for a pittance and the more we invade their investments which is why hedge funds are freaking out about retail investors catching onto their short sales on the market for AMC and Gamestop.
There is no grand conspiracy, the "1%" simply do NOT care. It is not their responsibility to teach the masses about personal finance, just like it is not their responsibility to give you nutritional advise. All of the information is out there, either for free on the internet, books, or in the form of relevant college degrees and certifications.
The average person is simply just dumb in most fields. Around half of the population doesn't even submit tax returns, do not vote, does not go to work and is not looking for work. They are simply meatbags with eyes.
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