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.

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

“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

Part five is the last of this interview series. We get down to the bottom line of financial education and how simple adjustments will have you on the road to financial freedom.

Vince : How easy is it then? You’ve mentioned money principles that many people don’t know about and most people never use. What kind of life can our viewers expect to have if they put this financial education to work for themselves?

Teacher X: I’ve mentioned them before, but let’s put them together. Vince, give me a hand.

Vince : One of the first steps is developing a realistic understanding of money.

Teacher X: I agree. Money can be a force for good in your life and the lives of the
people you care about. You want money to serve you. And you never want to become a slave to money.

Vince : Which means creating a healthy balance between spending and saving money. Being smart about money doesn’t mean you can’t buy things that make you happy. You just need to do it the right way. Spending money wisely is as important as saving and investing.

Teacher X: Definitely. But this isn’t grandma telling you to save your pennies and use coupons. It’s more like deal-making on steroids. It’s about getting what you want when you want it, but without breaking the bank and putting yourself into debt. Want a hot car? Forget about walking into the dealership and paying sticker price. Only chumps do that.

Vince : I might not have put it so bluntly, but I agree. By spending wisely, you can enjoy more of the lifestyle you desire. Also, this helps you free up more money for…

Teacher X: Investing. Stocks, bonds, mutual funds, real estate, businesses. Boring stuff, right? I’ll tell you something right now: If you think investing is boring or a waste of time, you will never have financial freedom. Pure and simple.

Vince : Putting money to work for you through investing is the best way to achieve financial freedom. A lot of people don’t know that Arnold Schwarzenegger was already a millionaire by his mid-twenties from investing in real estate and businesses. And that was before he became a movie star. His investments were his “backup plan,” so he could pursue his dream—which obviously was an acting career.

Teacher X: Great example. By investing, you’re earning money without working for it. That’s one of the keys to freeing up your time, so you have the freedom to do what you really want to do, like travel, pursue your passions, enjoy your family, help others—anything that adds meaning to your life.

Vince : One last note about investing: Most people think it’s hard to invest, so they don’t even try. But it’s so easy today with all the automated ways to invest. You can be set up in about 30 minutes. Then each month you can just check your statements to see how much your investments have returned.

Teacher X: Yes, keeping it simple is the key to getting it done. Simplicity equals consistency and consistency is important to becoming financially free. But I think we’re getting a little ahead of ourselves. Before you start making money and investing, before you even get out of school, you need to master one critical money principle. It can make all the difference between financial success and failure.

Vince : You’re talking about credit and debt, right?

Teacher X: Yes. If you take only one thing from these videos, make it this: Use
credit wisely and keep debt under control. Credit can be a powerful financial force for making money and enhancing your life. But if you abuse it and fall into debt, you’ll watch your dreams go up in smoke.

Vince : I couldn’t agree more strongly. Never, never finance your lifestyle with credit cards. You might feel good for a little while when you buy cool toys for yourself, but when the pain of debt hits you—and it will—that pain will last years, if not the rest of your life.

Teacher X: And one of the best ways to avoid borrowing money and falling into debt is knowing how to make money. That way you’ll have the money to buy what you want without borrowing.

Vince : You mean by getting a good job or by starting a business?

Teacher X: Either. Learning how to land a good paying job on your terms is one way many successful people get started once they’re out of school. And like everything else in life, you can do what most people do, or you could do it the SMART way.

Vince : And the same applies to people who start their own businesses.

Teacher X: Exactly. Starting your own business—even while you’re still in school—is a great way to bring in the money you want and set your own schedule. Plus, it’s easier than ever today to start you own business. And there’s no limit on how much money you can earn. For people in the know, it can be a fast shortcut to financial freedom.

Vince : Everything we’ve talked about is important to achieving financial freedom, but there’s still something missing

Teacher X: Yes and probably the most important part, too. It’s why some people do everything we’ve talked about, yet never achieve financial freedom or the lifestyle they desire

Vince : It’s what made the difference for both me and you. Until I mastered it, I kept running into a wall.

Teacher X: Same for me. When I first starting investing in real estate seven years ago, I made the same mistakes most people do.

Vince : No goals, no plan, no clue.

Teacher X: You bet. I didn’t know what I wanted and no idea where I was going. I wasn’t happy with teaching and I wanted something more for myself. So I starting throwing a bunch of stuff against the wall, hoping something would stick.

Vince : And what happened?

Teacher X: About what you’d expect—a whole lot of nothing. Then I decided to get serious.

Vince : You set concrete goals and drew a roadmap for yourself, right?

Teacher X: It sounds simple now, but it wasn’t. I did it on my own, but my biggest regret was not finding someone to point me in the right direction from the beginning. A mentor would have shaved years off the time it took me to get where I am today—enjoying a life I chose and created for myself.

Vince : It really is easier when you have someone to follow, someone who’s been there and done all the hard work for you, then laid it out for you in step-by-step detail.

Teacher X: I can’t begin tell you how valuable that kind of help is.

Vince: Hey Teacher X, sorry to cut you off but we’re out of time. I have to thank you for educating our listeners on the importance of financial education. Until next time: defend the weak, help the less fortunate and stand up against injustice….this is Vince Shorb wishing you all much success.

Vince : “A money rebel.” I like that.

Teacher X: Glad you do. But I’m not saying it to be cute. So-called “common sense” approaches to money have left most working people in America only a paycheck or two away from financial disaster.

Vince : That’s a little hard to believe.

Teacher X: Think about it. The personal savings rate in the U.S. has declined from 10.8 percent of disposable income in 1984 to zero in 2005. That’s right. ZERO. No savings to fall back on for emergencies. We spend more than we earn. In fact, recent studies show that most American families spend $1.22 for every dollar they earn and in 2004, the average credit-card debt of US households was $9,300. People are actually spending more money than they bring in. People are living paycheck to paycheck and this overspending is being passed down from generation to generation…its actually getting much worse. Are you starting to get the picture?

Vince : Ya I am , and it’s actually a pretty bleak picture.

Teacher X: Absolutely. Did you know that the average college undergraduate has over $21,000 in student debt, college debt and credit card debt by the time they graduate? It’s no wonder many of them have a hard time living on their own after college. In fact, a recent study reveals that 57% of college graduates plan to move back home with their parents.

Vince : I’ve heard about the problems of student debt and they problems their having with credit card debt. Many credit card companies are actually bribing college students to sign up for credit cards on campus. The give them pizzas, t-shirts, and candy just to get them to fill out a credit card application. They know they don’t receive practical financial education in high school so they know they are preying off the uninformed. It sounds very unethical if you ask me.

Teacher X: About as deplorable as cigarette companies finding new ways to encourage young kids to smoke. And almost as bad for their financial health. It’s like, “Here’s, a big pile of debt before you graduate.”

Vince : Not a great way to start your life as an adult, is it?

Teacher X: Not in the least. And it only gets worse. Consider this: Most Americans live paycheck to paycheck, barely keeping up with minimum credit payments. Can you start to see how it wouldn’t take much—say, losing a job or being laid up from an accident or illness—to lose everything, even wind up homeless and living on the street? I know it’s hard for most of you to believe, but trust me when I say that homelessness is a LOT closer than you think.

Vince : Isn’t there anything we can do about this problem?

Teacher X: Yes, what I’ve been saying all along. Education is the key. EVERY young adult needs to know about making money, managing money, saving and investing, using credit wisely, and becoming financially free.

Vince : And you’re telling us that schools will not teach this vital information?

Teacher X: No. And they’re not likely to without radical reforms. Let’s face it, you’re on your own if you don’t want to become a statistic. It’s up to every young adult to search out these money secrets and put them to work immediately. Parents need to be aware of just how critical this knowledge is—and make sure their kids have access to it. It’s only their future we’re talking about, after all.

Vince : I understand where your coming from and can see why you’re so passionate, like I am, about getting practical financial education to be taught in public high schools.

Teacher X: It’s not only about helping kids get a better start in the world by giving them financial education. It bigger than that. The more adults we have in society who have a practical financial education, the better off the entire country is. Here are a couple simple examples: When people understand how credit works, debt is reduced and more public resources are freed up to help the people who truly need it. Entrepreneurs who understand how to make money create new businesses that provide jobs. Did you know that small businesses create 2 out of 3 new jobs and employ half of America’s workforce? I’d say that’s a big positive impact on society.

Vince : I’ll stop you right there with those examples. If we had time, I’m sure you could list dozens more. But I need to ask you, how can young adults and their parents learn more about these money secrets that are really the key to a better life?

Teacher X: I think you already know the answer to that question, Vince. But for the viewers out there, I have a few suggestions. First, find someone who’s achieved what you want. It’s easier to follow someone who’s already blazed the trail for you. Second, create a plan for what you want to accomplish. It won’t happen by itself. You need a plan to stay on course. And lastly, do it. Follow your plan. Many people know what they should do. The winners are the ones who actually do it.

Vince : And what’s in it for people that make the effort, who, in your words, “actually do it?” What’s the payoff?

Teacher X: You can have a life that other people only dream about. And it’s easier to accomplish than you ever imagined.

This interview Teacher X laid it out. Money doesn’t by happiness but it gives you the ability to fully experience life. Come back for part five of this interview where I lay down my thoughts on money.

Part 2 of this interview was a little over the top I try to reign in Teacher X during the third part of the interview to get to the root of what financial education does for today’s youth.

Vince : That’s a pretty harsh statement.

Teacher X: But accurate. Our High School education system has an agenda—a set of subjects to be taught—and financial education is not part of it. Once you graduate, you’re no longer their concern. Their only job is to get you to graduation.

Vince : Listen - I know you have an axe to grind with the school system and I agree financial education should be taught, but let’s move on. You mentioned “lifestyle” earlier. What do you mean by that and how is it tied to money and wealth?

Teacher X: Lifestyle can have different meanings. It depends on who you ask. I like to think of lifestyle as the way you live your life—all aspects of your life. And I like to live life on my terms. For me, that means having enough money and time to make what I want happen.

Money alone can’t buy happiness. But knowing how to, grow, use and make money smartly can help you to create a lifestyle that most people only dream about.

Vince : Can you give me an example?

Teacher X: Sure. Say I like to surf. I’d want to live near prime surfing waters in places like Santa Cruz or maybe even Costa Rica. But to do that I’d need money—I need ot knw how to make money, invest money—to be able to have the time to live in those places and surf. On the other hand, for a person who wants to make a positive impact on the environment, lifestyle may mean having the time, money, and freedom to work with non-profit environmental organizations

Vince : Doesn’t lifestyle also take into account the clothes you wear, what you do for fun, the kinds of people you like to hang out with, and even what you like to eat.

Teacher X: Yes, it’s all part of your lifestyle. The key to enjoying the lifestyle you want, however, is having financial freedom. And financial freedom means having the money and time to make the choices you want to make. If you don’t have the money to make your dream lifestyle come true—either because you don’t earn enough or you have too much debt—then you’ll be forced to compromise. In other words, you’ll let circumstances and other people decide what kind of life you’ll live.

Vince : So we’re back to knowing how to use and make money? Basically, you’re saying money gives you freedom—the time and the means to afford the lifestlyle you want.

Teacher X: Of course, it’s all tied together. You can’t have a great lifestyle without coming to terms with money.

Vince : So, does that mean everyone should become a doctor or lawyer and earn huge incomes? Wouldn’t that give someone the money to live the lifestyle they want?

Teacher X: Hardly. First, not everyone can afford or even wants to go to medical or law school. It’s about discovering what you’re passionate about and figuring a way to make money doing what you love.

Vince : So if high income jobs aren’t the answer, then how can the average young adult to have the money, time, and freedom to enjoy the rewarding lifestyle that your talking about?

Teacher X: Of course, but it’s a good place to start. When you follow your dreams you can avoid the stress and burnout that people suffer because they’re just working for that next big paycheck. Many of them are too busy putting in long hours to truly enjoy the lifestyle they want. They have the money, but not the time to enjoy what it can do for them. That’s not freedom to me. I have a lot of respect for people who work that hard but, hey, it’s for everyone.

Vince : Doing what you love is great advice, but isn’t there more to it than that?

Teacher X: First, forget about what everyone else is doing. 9 out of 10 people don’t have the first clue about money. You have to think outside the box. You must become a money rebel.

In part four of this interview we reveal what a ‘money rebel’ means and how by becoming a money rebel you can life on your terms.

Were back with part two of the Teacher X interview. I have to warn you he makes some serious statements in the second half of the interview. Let me know if you feel there is a ‘conspiracy theory’ scenario going on with the lack of financial education taught in public high schools.

Vince : Like dumping goldfish into a piranha tank? Isn’t that a little melodramatic?

Teacher X: Not at all. Vince, let me ask you a simple question: Would you hand the keys to your car to someone who never learned how to drive?

Vince : Of course not. Nobody in their right mind would do that.

Teacher X: Yet that’s exactly what happens every time another young adult graduates from our school system without financial education. They’re handed the keys to their life—so to speak—without the real world money training or even a road map of how to get where they want to go.

Vince : And you claim this financial education they’re missing is out on is about how to deal with money?

Teacher X: Absolutely. Look, Vince, the reality is that we live in a country with a capitalist economy. With rare exception, you need to make money to provide yourself—and your family—with the basic essentials of living: Food, clothing, and shelter. Do you agree?

Vince : Without a doubt. But everyone knows this. We all spend and make money. It’s simply the way we live in today’s society.

Teacher X: But why do some people make more money than others—while most people struggle to make ends meet? What’s the key difference?

Vince : Well ..The people that make more money know more about how to save and make money. Or, some argue, they were lucky. They inherited their money or even won it in the lottery. But you’re the teacher, so tell me.

Teacher X: First, let’s forget about inheriting or winning money, since that’s something few of us have any control over. And did you know that you have better odds of being struck by lightning than winning a lottery jackpot?

Vince : So inheriting money and winning the lottery are out. Where does that leave everyone else who’d like to have and make more money?

Teacher X: Let’s go back to what you first said, The people that make more money know more about how to save and make money. Well, where do people learn about money?

Vince : From their parents, in most cases.

Teacher X: Yeah, one study says that 87% of young adults learn about money from their parents. But—and I mean no offense to parents—most parents aren’t qualified to teach their kids about money. No one ever taught them, either. If you’re a parent and you haven’t achieved financial independence yourself, how can you possibly teach your kids? I say let people who are experts about money do the teaching.

Vince : And from your experience, I’d say that leaves out high schools.

Teacher X: Look. I taught high school for 9 years and the secrets of making money was never on any curriculum that I saw. In fact, I never learned the basics about money and investing until I was out of school and on my own. I was already teaching kids myself before I started to learn real money basics…let alone be able to explain them to kids.

Vince : But isn’t that what most people do? We learn as we go along. We make mistakes and we learn from them. It’s part of the process of becoming an adult. Some people even call it “getting your degree from the school of hard knocks.

Teacher X: And you don’t think there’s something wrong with that? Do you teach a young child not to run into traffic by letting them get hit by a car first?

Vince : Of course not. That would be stupid, and have some severe consequences.

Teacher X: My point exactly. Schools are doing the same thing to our young people every day when it comes to money, wealth, and lifestyle. Let’s get realistic. Take a look at the sorry state of Social Security and private pension plans. Today’s young people will not have Social Security and pensions when they’re ready to retire.

Vince : So what’s (is) going to happen to them?

Teacher X: It means they’re on their own. In order to self-fund their retirement, a young person today would need over 1.3 million dollars to retire with an annual income of only $33,000. And that takes into account increases in cost of living, inflation, and life expectancy.

Vince : I’ve read the reports and I do agree with you. But how can the average person hope to ever save that much?

Teacher X: It’s easy—if they start while they’re young. Consider this: If an 18 year old started investing only $100 every month—and did nothing else—by age 57 they’d have over a million dollars, they could retire young. And that’s using dead simple investment strategies. With slightly more advanced strategies you can do it before you’re 30. How many people learn this in school?

Vince : Well….None, that I know of….but I’m sure if they did teach that simple strategy there would be a lot more people saving at least $100 dollars a month.

Teacher X: And that’s the problem. If you wait until you’re 30, it’s too late. These strategies won’t work. You need to know about them when you’re young.

Vince : Can you explain what you mean by that?

Teacher X: Sure. There’s two basic ways of making money: Working for money and letting money work for you. You work for money when you get a job or start a business. Money is paid to you in exchange for providing service or goods. Making money by letting it work for you is what happens when you invest money.

Vince : That’s a bit oversimplified, but I agree.

Teacher X: OK. Our simple strategy of saving $100 every month from the time you’re 18 and having a million dollars at age 57 is an example of letting money work for you. As you continue to add $100 every month, your money earns interest. And the interest you earn also earns interest. That principle is called compounding. But for compounding to work it’s magic, you need time. The more time your money has to earn interest and compound, the greater your payday.

And that’s why it’s critical for today’s young adults to get this information as young as possible. Studies show that young people who take personal financial education courses have a higher savings rate, contribute more to their 401k and have a higher net worth. So the older you are when you learn this information, the more money it’s costing you—literally hundreds of thousands of dollars. Even millions. And imagine what a difference that money could make in your life and the lives of those close to you.

Vince : With that much money—and people’s futures at stake—why in the world aren’t schools teaching this?

Teacher X: I’ll share a dirty little secret with you. The school system could give a damn about your future.

Stay tuned for part 3 of this interview where we cover what financial education really does.

I just had I just had a chance to interview a friend of mine who was a high school teacher for 9 years. He is very opinionated and feels that financial education needs to be taught. Let me know your thoughts of this interview.

Vince: Welcome to our special video interview. Today we talk to an education insider who blows the whistle on how high schools are setting students up to fail. Because what he has to say is so explosive, our insider believes his career could be in danger. So to protect his identity, he has requested to remain anonymous and will go only by an alias, Teacher X. Welcome, Teacher X

Teacher X: Thank you, Vince.

Vince: Teacher X. I have to say, what you told me before the show is shocking. If even half of what you revealed to me is true, you’re going to make a lot of educators very angry tonight. So tell me: Why break your silence now?

Teacher X: Vince, I didn’t dare open my mouth when I was still teaching. That would have been suicide. But I’ve been retired for several years and the guilt weighs too heavy on me to stay quiet any longer.

Vince: Guilt for what?

Teacher X: Those kids trusted us with their lives, their futures. And we betrayed them.

Vince: Whoa. That’s a serious accusation. Can you be more specific? Who is “we” and how did you betray these students?

Teacher X: By “we” I mean the entire education system—teachers, unions, administrators, even the politicians who drive the state and national financial education initiatives. Everyone who has a hand in setting and delivering the curriculum, we’re all guilty.

Vince: Yaw but guilty of what, exactly?

Teacher X: Of sending young adults out into the world with dangerously little preparation to deal with the most powerful force in our society.

Vince: And that force is?

Teacher X: Money.

Vince: Money?

Teacher X: Yes. Money runs our society. Those who have and control money enjoy life more. They have more privileges than people without money.

Vince: That sounds like a secret society. Besides, not everyone cares about getting rich. Most of us simply want to live life on our terms—have a lifestyle we can enjoy and do what makes up happy.

Teacher X: And that’s precisely what a solid understanding of money, a financial education can do for you—give you more control over how you live your own life. It brings you financial freedom.

Vince: And you’re saying that schools should be teaching young adults about how to use money giving them a financial education so they can have a better life?

Teacher X: Exactly. Letting young adults out into the world without financial education and a basic knowledge of money is criminal. Like dumping goldfish into a piranha tank.

Like I said he didn’t hold back on this interview. Although I put it in more politically correct terms I know that the lack of financial education is condemning many of today’s youth to a lifetime of struggle. Until next time post your comments and wishing you all the best! Vince Shorb

I just had I just had a chance to interview a friend of mine who was a high school teacher for 9 years. He is very opinionated and feels that financial education needs to be taught. Let me know your thoughts of this interview.

Vince: Welcome to our special video interview. Today we talk to an education insider who blows the whistle on how high schools are setting students up to fail. Because what he has to say is so explosive, our insider believes his career could be in danger. So to protect his identity, he has requested to remain anonymous and will go only by an alias, Teacher X. Welcome, Teacher X

Teacher X: Thank you, Vince.

Vince: Teacher X. I have to say, what you told me before the show is shocking. If even half of what you revealed to me is true, you’re going to make a lot of educators very angry tonight. So tell me: Why break your silence now?

Teacher X: Vince, I didn’t dare open my mouth when I was still teaching. That would have been suicide. But I’ve been retired for several years and the guilt weighs too heavy on me to stay quiet any longer.

Vince: Guilt for what?

Teacher X: Those kids trusted us with their lives, their futures. And we betrayed them.

Vince: Whoa. That’s a serious accusation. Can you be more specific? Who is “we” and how did you betray these students?

Teacher X: By “we” I mean the entire education system—teachers, unions, administrators, even the politicians who drive the state and national financial education initiatives. Everyone who has a hand in setting and delivering the curriculum, we’re all guilty.

Vince: Yaw but guilty of what, exactly?

Teacher X: Of sending young adults out into the world with dangerously little preparation to deal with the most powerful force in our society.

Vince: And that force is?

Teacher X: Money.

Vince: Money?

Teacher X: Yes. Money runs our society. Those who have and control money enjoy life more. They have more privileges than people without money.

Vince: That sounds like a secret society. Besides, not everyone cares about getting rich. Most of us simply want to live life on our terms—have a lifestyle we can enjoy and do what makes up happy.

Teacher X: And that’s precisely what a solid understanding of money, a financial education can do for you—give you more control over how you live your own life. It brings you financial freedom.

Vince: And you’re saying that schools should be teaching young adults about how to use money giving them a financial education so they can have a better life?

Teacher X: Exactly. Letting young adults out into the world without financial education and a basic knowledge of money is criminal. Like dumping goldfish into a piranha tank.

Like I said he didn’t hold back on this interview. Although I put it in more politically correct terms I know that the lack of financial education is condemning many of today’s youth to a lifetime of struggle. Until next time post your comments and wishing you all the best! Vince Shorb

Knowing how to manage money is one of the most important skills you need to master in life. Essentially, with proper money management skills you will have a well managed and effective life plan.

You would think that learning how to manage money would be a required course in high school and college. Instead, we learn by watching our parents, following our peers, and by making money management mistakes.

So, what is the key to great money management? Like learning to drive a car, there are some basic money management strategies to guide you. By learning these simple money management skills at a young age you will benefit your entire live. Isn’t it better to learn the easy way, rather than the hard way? I’ve learned the hard way and talked to thousands that learned money management through trial and error. Now there is a better way.

There are basic money management guidelines that will allow you to live your life more fully, and put you in better control of your money. It just will take you an hour to learn the basic money management skills that will put you in control of your finances.

Saving by cutting your spending
You may be familiar with the Eastern philosophy of Yin and Yang, which describes opposing but necessary forces found in nature. This concept can easily be applied to spending (yang) and saving (yin) money.

When you follow practical money management techniques you will find spenging and saving equally support each other if kept in a balance. This money management balance can help you to have money in the bank while you are able to enjoy a full rewarding life.

When practicing proper money management your spending and saving are in balance. They are interdependent and cannot exist without each other. For example, if you never save you won’t have the money to spend later in life.

Separating your wants
A key to proper money management is understanding your needs and wants.

• A need is something you must have for survival. Things like shelter, clothing and food are all good examples of needs - you can’t live without those items. Without proper money management you may not be able to afford food or shelter. There’s a lot for people living paycheck to paycheck that are dangerously close to being homeless. Don’t let that be you – manage your money.

• A want is something you would like to have. It ‘s something that is not absolutely necessary, but you would enjoy having. Wants are things like those $4000 purses, $50,000 new cars, the latest clothes and of course who could live without their plasma T.V. Now if you manage your money right you can enjoy these wants.

I’m not telling you to be a tightwad however you need to manage your money. If you able to put away at least 15% of your paycheck, have no debt (besides that which secures assets like real estate) and are following your plan to reach financial freedom – go out an enjoy life and but the things you want (within reason).

When managing your money, make sure to budget enough to pay for your needs and plan for your wants.

We all have a limit to the amount of money we have available to spend. The ability to teach your kids about money is one of the most important money management skills you can give them.

Children that don’t receive this practical financial education can get in financial trouble. Financial trouble spills over into other areas of their life. Money problems are the top cause for diverse, top cause of health problems and a top cause of emotional stress. It is your parental responsibility to teach your kids about money. Teaching your children proper money management skills should high on the check list on how you raise your children.

It is important you lead by example. Now if you like most American’s you are experiencing financial hardship. It may not be apparent to you now however most people will not have enough to retire, are indebt and are living paycheck to paycheck. If that describes you, that’s OK. We all have to start somewhere and that is where I personally started. Teach your children about money by working on your finances together. Create family financial goals and share your positive and negative money decisions with your children. Teaching kids about money can bring your family closer.

It is vitally important if you do not have professional money management training to teach your kids about money by someone that has this training. You send them to school for subjects that they will never use again in their life so get a course on money that will benefit them for life. Teaching kids about money is easier than ever with ‘Financially Free by 30’ multi-media home study course. This is the first and only course on the market that gives them practical financial advice that they will need everyday of their lives. So if your not comfortable teaching your kids about money; find a resource.

For the other people that do have some money management training, make sure to take time out and teach your children about money. Treat this like a home school class that you are giving to your children. Give them assignments and homework. You owe it to them to prepare them for the financial real world plus it will save you the frustration of your children coming back and always asking to have money.

The average college graduate will move back home after they graduate and they have over $20,000 in debt - so teach your kids about money so they can avoid this problem. Also on a selfish side - Do you want be forced to live with your 30 year old child. Don’t laugh because over 22% of 30 year olds live at home.

Teach your kids about money! You and they will benefit for a lifetime!

In Spirit, Vince Shorb