There is a grave concern that corporate, union, or government pensions and Social Security probably won’t be around when your teenager reaches retirement age. The past 10 years has seen an enormous reduction in pension plans offered to employees. Only 46% of all workers were covered by a defined benefit plan in 2004. Employers are replacing pension plans with contributory retirement programs. Unfortunately, according to a report of the National Association of State Boards of Education, “most workers with access to these contributory programs are not participating sufficiently to allow them to retire in their sixties without suffering a great decrease in their standard of living.”

So what does this mean for you? “It means you will likely have to self-fund your retirement, and are going to need to learn the skills necessary to do so,” says Vince Shorb, the creator of an interactive multi-media course, Financially Free By 30.

“Now more than ever real world financial education needs to be taught,” says Vince, the founder of the National Youth Finanacial Eudcators Council, a company that provides practical financial education to today’s young adults. “Some high schools teach an economics class which is mostly the history of money and theory behind it. Young adults today need practical information they can use in the real world.”

How much will our youth need to retire comfortably?
After calculating the long-term inflation rate using the Consumer Price Index (CPI), which averaged 3.1% annually, from 1925 through 2006, a young adult today will need a minimum of $1.3 million in order to retire on about $33,000 annually (today’s dollars, adjusted for inflation and salary increases). This is assuming they live to be 90 years old. However, with the improvements in medicine, many experts feel we will live beyond that mark, so just planning to live to 90 may not be enough. And $33,000 annual income per year is not a lot of money to enjoy the golden years.

Now here’s the good news.
If they just invest $73 per month, starting at age 18, and average a 12% return they will have over $1.3M by the time they reach retirement age.

4 Keys to today’s young adults enjoying their retirement:
 Start investing early – Harness the power of compounding interest. The earlier you start the greater the snowball effect of compounding interest.
 Be consistent with your investment plan.
 Use investment vehicles that offer tax benefits -Roth IRA may allow you to withdraw money at retirement tax-free.
 Purchase real estate. It provides a great hedge against inflation.

“The thought of funding one’s own retirement makes some people nervous but if people start early and stay consistent, the young generation of today will be able to afford the lifestyle they desire and not have the worry about how they are going to make ends meet in their golden years,” concludes Vince.

http://www.NYFEC.org, http://www.MoneyXevent.com

You’ve been looking long enough to reach late high school, early college-age youth through a platform that wasn’t soaked in beer, didn’t fail to deliver true ROI and one where participants didn’t forget about you the day after the event. You’ve wanted a program that can garner significant media attention and create a deep connection with the customers - an innovative event to spruce up your back-to-school campaign that “21st century youth” can relate to. Most importantly you wanted curriculum that truly made an impact on students, preparing them to succeed in today’s society.

Your search is over because you found the ‘Money X’ mega-event, the nation’s premier financial success and entrepreneurship seminar. The Money X Mega-Event is a high-energy, celebrity packed, concert style event that provides attendees practical financial advice that prepare them for the real world. Experts in the field of personal finance partner with top-name celebrities, athletes and recording stars to make this a memorable event that helps to educate, motivate attendees while raising funds for non-profit organizations. What’s more, after the seminar students receive ongoing video training that recaps the seminar lessons and increases the frequency benefits our non-profit and corporate sponsors receive.

Now it’s time to come aboard. Through the second half of 2008 we will be conducting several promotional campaigns to coincide with program launches, book launch as well as announcing high profile partnerships with select national non-profit organizations. By 2011, we plan to serve more than 30,000 hopeful students a year, and more students that attend Georgia State, Colorado State, San Diego State, Iowa State, UNC or UNLV per year!

If you want to own the young adult ‘financial preparedness’ space this is your chance. Looking for a major back-to-school promotions property? You got it. We put together the only course that reaches young adults and conveys financial matters in a way they relate to. Now it’s time for you to join us and be among the first companies to brand yourself as an organization truly dedicated to helping high school and college-age youth succeed.

Our participants need your organization’s services. As a sponsor, you receive unobstructed opportunities to connect with students, parents, and educators during the seminar and after. Throughout the seminar we instruct participants to ‘build a long-term relationship with a financial institution’ and to find a bank they can grow with. What’s more these students are receiving professional instruction on ways to manage their finances properly while being entertained. Your organization will benefit because you are likely to end up with financially educated customers for life. Customers that may need a savings account, checking account, students loan, credit card, brokerage services, auto loan, business services and eventually a mortgage.

Our attendees come ready to learn more about your organization and how your products or services may help them succeed in school and in life. As a sponsor you are able to connect with students, parents, and educators – before, during and after – this high impact, life changing seminar. From cell phone text messages, print, web, exhibit, presentations and onstage branding benefits – you have the opportunity for extensive exposure to conference attendees. These educated students will go on to become the most financially savvy young adults in the country.

Join us and be among the first companies to brand yourself as an organization truly dedicated to helping young adults succeed financially. Please review the packet and contact me as soon as possible with your questions or comments.

Having the proper insurance is an important part of managing risk. I have seen many people with over $100,000 of medical bills on their credit report because they were not covered. I had my insurance contact, David Sass, give us some tips to make sure your covered.

Health insurance is a form of risk management that individuals use to protect themselves against an unpredictable health loss. An insurance policy is a contract between an individual and an insurance company that transfers that loss from the individual to the insurance company for a fee. All policies are not the same and should be reviewed and understood by the individual. Here are the most important aspect to be consider.

1. Doctor and Medical facility availability: An individual needs to make sure the doctors, hospitals and medical groups they want to use are contracted with their insurance company.

2. Premium (monthly cost): This month fee which is paid by the individual should be affordable and the individual should be able to maintain that premium over a period of time within the individual’s budget.

3. Deductible: The amount that the policy holder must pay out-of-pocket before the health insurance plan pays its share.

4. Copayment: The amount that the insured must pay before the health plan pays. This is a lot like a deductible but is applied to individual services, which are usually waived from the deductible (except for prescription drugs).

5. Exclusions: Not all services are covered in some plans. A lot of new plans do not have coverage for maternity or brand name prescription drugs. These exclusions can lower premiums.

6. Out-of-pocket maximums: This is the amount that the policy holder obligation ends under coinsurance and the insurance company pays 100% of the cost.

Health insurance policies can be very confusing. It is best to find an insurance agent who specializes in this kind of coverage and meet with them to review the detail. Insurance plans are no more expensive using an agent than going direct.

This is an article written about the financial education event I hosted last week.

Youth Empowering Youth

February 21st, 2008. The Huntington Beach High School Entertainment and Tourism Academy (ET at HBHS) is co-hosted an event to inspire today’s youth to take control of their finances while they successfully raised funds for their academy and Junior Achievement.

The event brought out the who’s who in Huntington Beach. The guests included Huntington Beach Mayor Debbie Cook, council members Joe Carchio, Cathy Green, Gil Coerper as well as many members of the Chamber of Commerce. What’s more, bestselling author Toni Turner , up-in-coming author Nick Hager and keynote speaker and author Vince Shorb were all in attendance.

The event started with a ribbon cutting announcing the launch of Vince Shorb’s new financial education course for young adults, ‘Financially Free by 30’. To support him in this effort the Huntington Beach Chamber of Commerce was on hand backed by about 25 students from HBHS and the City Council members to cut the ceremonial ribbon.

The group then proceeded inside where Vince Shorb, a leading financial literacy advocate and author of ‘Financially Free by 30’, delivered an emotional keynote speech that addressed the national issues of how the credit crunch is affecting student’s ability to get student loans, how the lack of financial education is a major factor contributing to record debt.

The speech concluded with a check presentation to the students from ET at HBHS that was generously donated by Christiane Tomasi at CS Tomasi Inc. Tax and Financial Resources. Additional funds were raised at the event to support Junior Achievement.

“Junior Achievement is on a mission to empower youth. With this event, the Huntington Beach High School Students reversed the roles and now they are the ones empowering Junior Achievement and also taking an active role in empowering their peers” states Vince Shorb.

To learn more about the event sponsor, CS Tomasi Tax and Financial Resources, visit www.cstomasi.net. To learn more about the host of the event Vince Shorb and the Huntington Beach High School Entertainment and Tourism Academy visit www.FreeBy30.com and www.etacademy.net.

Give tax payers $600 to waste on a with the economic stimulus package and make it hard for college hopefuls to attend school.

What are people going to do with $600? I’ll never turn down $600 but it really won’t make a difference in most of our lives. Most people that get this will go off and buy toys – electronics was a big hit the last time there was a tax rebate. Sure the financially educated will use it for good and invest it or pay off student debt and that’s great for the few that will take advantage of this small windfall. And the economy will probably get a small temporary boost; however it won’t be long lasting. My opinion is that it is $168 Billion wasted.

Looking at this as a business man and patriot I would rather invest in my Country. Take part of that $168 billion and let’s give young people looking to receive a college education. It’s tough for many college students today. The AVERAGE college graduate has between 20k to 30k in college debt and student credit card debt on graduation day.

They are behind the student debt 8-ball before they even have a chance to start their career. Then many are hit with other expenses after graduation: new business attire, moving costs, time off work, and other expenses many have when they leave college.

Blaming the credit crunch, the state of Michigan is suspending a college student loan programs. Student will now have a much harder time trying to borrow money to pay for college. For many this will lead to greater college debt and student credit card debt.

We need to look at America like a business. As a business owner would you invest all your money to give your employees $600 to enjoy a day off of work? Or would you invest in their financial education so they can be a more productive member of your business. I want productive members in this country so let’s invest in the people instead of wasting money.

High School Students to Host a Fundraiser and Financial Education Awareness Event

Huntington Beach, CA The Huntington Beach High School Entertainment and Tourism Academy (ET at HBHS) is hosting an event to inspire today’s youth to take control of their finances while raising funds for Junior Achievement.

The event will include a check presentation to the student from ET at HBHS, a Chamber of Commerce presentation and a keynote speech from, Vince Shorb, a leading financial education advocate and author of ‘Financially Free by 30’. The funds raised at the event will support Junior Achievement.

The event will take place Thursday, February 21st from 4:00 pm to 5:30 pm at Flight Bistro and Social Lounge (8082 Adams Ave Huntington Beach, CA 92646).

“Junior Achievement is on a mission to empower youth. With this event, the Huntington Beach High School Students reversed the roles and are now the ones empowering Junior Achievement while also taking an active role in empowering their peers” states Vince Shorb.

Huntington Beach high School Entertainment and Tourism Academy (www.etacademy.net) provides students hands on learning experiences in the entertainment industries. Junior Achievement (www.ja.org) helps young people understand the economics of life and maximizes their potential. Vince Shorb (www.VinceShorb.com, www.FreeBy30.com) empowers today’s youth with real world financial education skills needed in today’s society.

Check out this week’s video to discover why credit cards are an important financial tool. When you know how to use them properly you’ll build your credit score and end up saving thousands each year.

http://video.google.com/videoplay?docid=7650114073409982357

Looking to save money, time, retire young and secure your financial future. To do so it all starts with a savings plan. It’s the backbone to taking control of your finances and ensuring you have enough money to enjoy now and retirement.

At first it doesn’t matter how much money you save, although 15%+ is ideal. And for those in debt or experiencing student credit card debt you can use this savings strategy to help dig yourself out.

The key to your finances and one of the top financial education lessons is saving money on a consistent basis. To develop a consistent savings habit that works automatically contact your bank and have them automate your savings plan. Ask them to transfer an amount of money that you choose to your savings account each month. Its best to have them do this the same day you deposit your paycheck - direct deposit makes this a breeze. That way you are paying yourself first and you know what you have left over for bills and fun.

According to STANDUP FOR KIDS there are 1.3 million homeless kids on the streets in the United States. Imagine for a minute being a kid or teenager and not having a place to call home, or sleeping in a car or a shelter.

Often these young and homeless people loose hope. They stop dreaming about retiring young, having young money or being a young entrepreneur. Often they learn bad financial habits and are prone to fall into student credit card debt. They are learning by the situations they are in and not through a professional practical financial education course. They mentally have failed financially before they even have a chance.

Helping these young adults get off the street and into a stable home can help them re-kindle the dream. They once again can have the hope to retire young or become that young entrepreneur.

You can make a difference whether you give your time or money to help these young people get a second chance on life. Consider how little it can take to give someone the opportunity to get off the streets. Let those causes and people you are passionate about helping out be the fuel to take control of your finances. Vince

I’m sure most of you reading this have had experiences in your life where lack of money, student credit card debt or having to work made you miss out on something. If so please comment and share your story!

Here is mine - I remember back in the day missing out on a Santa Barbara party / road trip because I had to work that day; I needed the money. All my friends got together this summer and were talking about the wild time they had that weekend and they were messing with me - 12 years - later because I missed out on that experience.

Even more heartbreaking, I spoke with a 78 year old woman in Missouri - her life dream was to visit the town in Sweden where her parents were from and she cannot afford to go. She missed being able to retire young and probably will never be able to retire. Unfortunately, from the latest reports this is what most peoples future will be.

People are living pay check to pay check, runaway personal debt, retirement shortage, and most importantly people are missing out on the fun experiences life has to offer because they don’t have young money. Young money allows you to enjoy al that life has to offer.

IT DOESN’T HAVE TO BE THIS WAY!

Don’t let those other people fool you, this money stuff isn’t that hard. Financial education is the key. They want you to believe it is; but in realty there are just simple basic lessons that separate the people that are able to fully enjoy life from those that are in a constant struggle. I understand because I personally I experienced both sides of the coin.

If you’re like most, you never were taught financial education or how to be a young entrepreneur in school. Instead you memorized the periodic table of the elements and were able to figure out how fast ‘train A’ was traveling away from ‘train B’. If you’re like me, you never needed to know how many atoms are in the element ‘lutetium’; however ‘money’ affects us everyday. Will a young entrepreneur ever use this information?

You owe it to yourself to get a practical financial education that will truly make a difference in your life. Start that business you always dreamed of and be that young entrepreneur. I promise – financial education is easier than any class you have ever taken plus it’s something you will use everyday of your life.

All the best!! Vince Shorb

Congress is getting closer to passing a $145 billion dollar economic stimulus package. This would give rebates of about $500 to $800 per taxpayer. That’s great but what will they do with that money?

According to CBS MarketWatch in 2001 there was a stimulus packaged passed. They report that the low and middle-income consumer spent money on ‘wants’. The things like DVD’s, stereos, and television sets. In contrast, the higher-income consumer was more likely to save their money.

The people that need to be saving the most often don’t because many of them lack the practical financial education knowledge to make proper investment decisions.

What about investing that $145 billion to give every American a financial education? I think the government would have a much higher return on their investment and more long term results. “Teach a man to fish…..”

If that $145 billion was put into financial education courses I am certain there would be a spike in young money, young entrepreneurs and a big reduction in student credit card debt. There would be a lot more people able to retire young!

What do you think? How could $145 billion be used to most improve Americas economy?

Is there anyone out there believes that corporate, union, or government pensions and Social Security will be around when people under the age of 30 reaches retirement age?

Already we have seen an enormous reduction in pension plans offered to employees and are being replaced with contributory retirement programs. Unfortunately, according to a report of the National Association of State Boards of Education, “most workers with access to these contributory programs are not participating sufficiently to allow them to retire in their sixties without suffering a great decrease in their standard of living.

So this means those of you under 30 need to self-fund your retirement in order to retire young. Now more than ever that you pick up the young money lessons that will allow you to retire young while enjoying yourself. You can do so by receiving ever real world financial education.

Check out what you will need to retire young. Young adults today – assuming you live to 90 - will need a minimum of $1.3 million in order to retire on about $33,000 annually (today’s dollars, adjusted for inflation and salary increases). That is a lot of money and not much of an income.

Hope your still reading because its time for the good news, if you just invest $80 each month, starting at age 18, you’ll have over $1.3M and it will allow you to retire young.

 Start investing early – Harness the power of young money and create a snowball effect on your money know as compounding interest.
 Invest consistently.
 Use IRA’s and other vehicles that offer tax benefits
 Purchase a few pieces of real estate in growing markets.

A practical financial education will help you harness the power of growing young money which will allow you to retire young. This money stuff is easy just stay consistent and follow your investment plan.

Parents out there you need to know! Most public high schools do not give your kids a practical financial education. In fact, they’ve been teaching roughly the same subjects for the last 50 years and financial education is not one of them. A lot has changed in 50 years. A little invention called the ‘computer’ or something like that. A global economy, an almost certain massive reduction of social security and pensions — yet they still teach the same subjects.

Young money problems include student credit card debt near record levels and reports showing that over one third of today’s youth will not have any ( $0 ) money saved in a retirement account in 2050. This causes them to have financial worries their entire life.

People that do not pick up a practical financial education could be 100% dependent on other people or the federal government for support. Does anybody still think SSI will even come close to paying the most basic bills when your children retire? Even today’s senior living on SSI can barley make it. Unless young people start to get a practical financial education many of them will have to work in their eighties, nineties, hundreds. They will never have the opportunity to retire let alone retire young.

“Injustice anywhere is a threat to justice everywhere” Martin Luther King Jr.

By not giving kids a practical financial education in school we are setting them up for the scenario described above. Financial education is the solution that will help a lot of people avoid a retirement money shortages, loosing their home in foreclosure and experiencing runaway student credit card debt. If high school adopted a practical financial education curriculum, it would give today’s youth the ability to get off to the right start financially.

Quiz: Of the group of two sentences what knowledge would you rather possess?

A. The ability to balance the neutrons from the periodic table of the elements.
B. The ability to choose what investment will be best for the future of your family.

A. Memorization of the exact date the French Revolution started.
B. Development of the financial education skills that will allow you to afford what you want now while planning for the future.

A. The ability to solve 1/(1+C)^D= 1-AC/B (1+C)^D + B/ (B-AC)
B. The ability to save thousands of dollars by knowing how to get your credit score above 720

Everyone knows the high school curriculum is not working and it probably will not change soon. I want it to but the system is a big boat and takes a while to change directions. So while I’m trying to motivate decision makers to start the turning process its up to all you parents to make sure you teach your kids about money.

You need to be aware and fully prepare your child for the financial real world. You wouldn’t give your keys to the car to your kids without drivers training. So why in the world would you send them out on their own without a financial education? Vince Shorb

Money Lessons We Can Learn from Britney Spears

Going from ‘just getting by’ to ‘getting whatever you want’ young money impacts people differently. It can be a bad thing if you do not have your mind in the right state. Take a look Britney Spears and the situations that many young celebrities find themselves in. They have all the money they need but without the right mindset they quickly find themselves in trouble.

Young money without financial education and life education can be disastrous. This is especially evident with Britney Spears.

Some people think she had it easy and never had to worry about the problems that most young people go through like student credit card debt, striving to retire young and finding love. Many think she has enough money that everything else in her life can be bought. But being in the public eye and having all her mistakes are on the front page for everyone to see can be a lot harder. How would you feel if every time you messed up that everyone knew about it?

There is a young money lesson to learn from Britney. This lesson will improve every aspect of your life and make you a better person. Once you master this young money secret you will begin to grow your wealth faster so you can retire young. This critical lesson is called ‘empathy’.

I am shocked at how many people poke fun at and rag on Britney Spears. She has a mental disease. Would you make fun of her if she had cancer, if she was blind or was in a wheel chair? Of course not! It’s important for everyone to understand a mental illness is a physical condition that you don’t have any control over. It’s a disease just like any other.

The next time you see her on the news pray for her. If someone around you is making fun of her do your part and explain she has an illness. And the next time you see her on the cover tabloid with don’t buy it.

Now for the young money lesson. Empathy is a key skill to develop that will improve your ability to motivate and inspire people on your ideas or belief. Empathy is defined as understanding another person’s feelings by remembering or imagining being in a similar situation.

Once you understand where someone is coming from then you can motivate them with what they are feeling. Understanding where someone is coming from will help you relate better to your friends, family and loved ones. You will avoid a lot of conflict and can ethically persuade people to your way of thinking.

This is a key skill in the work environment as well especially for sales people, entrepreneurs and managers. Developing the skill of empathy will help everyone be a better person, make more money and live a happier life.

In spirit. Vince Shorb

“The explosive growth of technology and the rapid expansion of a global economy have developed side by side for the past 15 years. This has drastically changed the financial markets, career setting and the way we conduct business. With all this change you would think the public schools would change their curriculum. That is not the case.

The subjects taught in our public schools today our are nearly the same ones we taught 50 years ago. The public high school education system is not delivering the financial education skills necessary to make it in the ‘real world’.

Studies show that students between the ages of 15 to 21 feel unprepared to face the complex world of today’s society. Most of the education efforts are being focused on encouraging high school students to enroll in college, yet only a third of the 16 million high school attendees today will end up with a bachelor’s degree. And when they do receive their degree the average graduate will leave with over $20,000 in student debt and student credit card debt. The young money skills that will help them avoid all this debt all because they did not receive a practical financial education.

The current high school education system is not set up to produces highly skilled workers for the jobs of the 21st century – it is not set up to produce young entrepreneurs. Many of the jobs that high school graduates are qualified for are being sent overseas. Employers feel the pinch as well. They have a hard time finding college graduates that are qualified for event the most basic job.

In today’s society high school and college graduates need to have something special to offer. There are people in developing countries that are receiving training on many of the entry level jobs that will work for a fraction of the cost that an American worker would need to pay their bills. Because of the curriculum there is little home for people to retire young and in some cases there is little hope of them retiring with young money.

We need to start teaching financial education now to help today’s youth avoid financial struggles. What’s more, we need to go back to our roots and teach people what made this country great – free-thinking, ingenuity, and entrepreneurship.

Vince Shorb
http://www.YoungSuccessNetwork.com