Money Education—Start Young

Key Takeaways

  • Consider teaching children about the value of money sooner rather than later.
  • Thanks to the Internet and social media, kids are exposed to money issues at a much younger age than we were.
  • The Savvy piggy bank—with four compartments—can help kids allocate money for saving, spending, investing and giving. See our earlier posts about the Savvy piggy bank.

Money – What You Didn’t Learn in School

Key Takeaways

  • Up to $40 trillion may be transferring between generations over the next 30 years.
  • It’s never too early to teach young people the importance of handling money responsibly.
  • Below are different financial literacy strategies for preteens, teens and young adults.

From Money to Meaning

When I was six years old, I remember walking up the sidewalk to my local library in Solvay, New York and seeing this huge building, and a strange name I couldn’t pronounce. Carnegie. Andrew Carnegie.

After a little research recently, I found out that the Carnegie Foundation along with Solvay Process Company had built the library in 1905. From 1883 to 1929, the Carnegie Foundation funded the construction of over 2,500 libraries.

As a kid, my first impression of Andrew Carnegie was this great man who brought this wonderful library to me and, as it turns out, to six generations of people in the United States, Canada, and Great Britain.  That’s phenomenal if you think about it.

Five great reasons to work beyond 65 (only 1 is financial)

Quitting at 65 might be too soon even if you are financially secure

Key Takeaways

  • More people are working well after the official social security retirement age of 65.
  • Factors such as using our minds more than our bodies, being invaluable to our companies, needing more retirement income, not feeling fulfilled yet, and age being just a number, are all things that contribute to this shift in this view of retirement.
  • While an official retirement age may be arbitrary, it’s important to have a plan in place to ensure you have the money you need when you do decide to retire.