Posts Tagged ‘Investment Education’
Rewriting Wrongs To Ensure Your Financial Future?
Friday, April 24th, 2009
Ignorance is no excuse. And even if it was, it doesn’t matter. Being excused doesn’t really help you.
At first glance, it appears that there are different rules for the wealthy than for the poor and middle-class in almost every area - taxation, investment, lending, education, happiness. But that’s just looking at the result.
The real difference between rich and poor in this country is relevant financial education. There ARE different rules, but what separates people is not money but knowledge.
What you don’t know CAN and does hurt you.
Historically we got our financial education from our families and for this reason our financial experience was unlikely to be significantly different from our parents. That may have worked when economic and financial trends changed slowly. But it doesn’t work anymore.
The reality is that if you are applying the financial education you received in your middle-class home you are more likely than ever to end up poor. Did you read that? Not middle-class - poor.
How many of these statements would you consider true?
Your home is your biggest and best long term investment.
Paying off your mortgage quickly creates more financial security.
A 401K is the safest, smartest retirement plan option.
High returns require high risk.
If you accepted ANY of these as true, you owe it to yourself to invest in your financial education before you invest anywhere else. Debunk the myths. Rewrite the wrongs. Investing in your education first gives you the knowledge you need to see through these myths and create the future you deserve.
Knowledge in Action is Power.
Invest in yourself, then claim your reward.
