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.

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.

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.

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

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

Define what financial freedom and financial security mean to you.

Everyone has their own definition of financial freedom and financial security . Define what It means to you. The one thing many people that have achieved financial security find is that their relationship with money is more or less “balanced.” Their focus in life is not on the money, but on living life. So their focus is not on the trappings of money, but on life’s goals.

The ultimate focus of living financially free is doing the things you are passionate about. The freedom to live the life you want to, whether it’s playing beach volleyball everyday, spending more time with the people you love or surfing all over the world. Not having to worry about money allows you to be who you want to be.

Warren Buffet has billions of dollars, for instance, but he lives in the same house that he bought for about $30,000 in the 1950’s! This guy is worth billions yet he lives very modestly. Why would he do that? Living in that house in Omaha suits him and his wife, so why upgrade? He could live in a palace if he wanted, but that is not one of his values in life. He does with his money what makes him and his family happiest. He is living his dream and if a mansion isn’t important to him great. But since he is completely financially secure and can afford whatever he wants if he does decide to buy a huge house – he can.

In contrast, look at Donald Trump or Diddy. Obviously they like the finer things in life and the bling to go along with it. Each to their own, as we all live our lives according to what is important to us.

The best part about life in America – It’s your choice. How do you want to live your life. How much money will make you feel financially free and financially secure. It’s a personal question you need to answer for yourself. Once you figure that out figure out a way to make that dream a reality.

All the best! Vince Shorb

I was asked last night – what do you teach? This question had just come after I had just read several financial education books in the past week…these things were boring and dry. So I thought about the question for another second and I came to realize I entertain and education and I teach Financial ‘Success’ Education.

One of the first lessons that motivates people to learn about money is for them to clearly define what ‘success’ means to them. The rest of the course is will then give them the tools to reach their personal ‘success’ goal. Other financial education courses miss this critical element.

The ‘Financially Free by 30’ course takes a holistic approach to ‘money’ and is broken down into three distinct phases: ‘Get Your Mind Right’, ‘The Foundation of Wealth’ and ‘Three Keys to Wealth’. The end result for people that follow the course is a ‘Life of Wealth. This refers to ‘Wealth’ in all areas – mentally, emotionally, spiritually, financially and socially.
I am committed to producing high quality content. Because of this I took painstaking measure to make sure this course is not only the most complete financial education course on the market but deigned in a way to promote effective leaning. This is the first and only multi-media financial education course designed to give students a ‘real world’ financial ‘success’ education.

Since every student learns differently he made sure each learning style was addresses. Combining audio, video, activities, interactive tools, manual and online progress tests there are learning methods available for each learning style – visual, auditory and kinesthetic learning. What’s more I have incorporated neuro-linguistic programming in this material to motivate and excite young adults to learn about money.

Over a year was spent in direct contact with young adults of all background to make sure I understood what the main motivators were for them to learn about money. Today’s youth don’t want a ‘financial education’. Yet they do want to learn about money when it relates to freedom, recognition, friends, love, passion for a cause, status, acceptance from peers, care for their family, travel and to have memorable life experiences to name a few. Although it is ‘financial education’ when positioned properly these little nuisances greatly increase the effectiveness of a course.

People in high School, College and adults under 30 years old want to learn about money!

In Spirit, Vince Shorb