- Jun 30, 2003
and this is why i have 20% of my salary going towards retirement (15% mine, 5% employer contribution)
No, they'd have you in jail by 6 weeks.Not an investor, not by a long shot. I could not answer that with any idea of certainty. Then I calculated the entire process with excel and on the 31st day you'd have $10,737,418.24. Nice...
You'd pass the national debt by day 52.
Best ideas I've seen in this thread are about financial education, and the very best advocates having it in high school, and mandatory. Everyone needs to understand the basics if they are capable. It will promote responsibility, and we absolutely need that.I agree that there needs to be financial education in schools. Right now there doesn't seem to be any, not even a basic personal finance class.
I'm 27 and remember taking a class that taught you how to write checks. That was it. It didn't give any kind of foundation on anything except perhaps compound interest, but I remember taking nothing from that class because they didn't have any real world examples or applications.
That's the thing I hate about school and academia in general. It doesn't tie into the real world at all. It's too theoretical. You're reading books and listening to people talk about things instead of actually DOING them with real world examples and real world institutions.
Students don't need to have real money to practice this either - easy enough to set up simulation software with fake money.
Goddamn there are so many things I don't like about our education system.
Here's the thing that I think our education completely misses.Best ideas I've seen in this thread are about financial education, and the very best advocates having it in high school, and mandatory. Everyone needs to understand the basics if they are capable. It will promote responsibility, and we absolutely need that.
Starting a new business is in many ways like being between a rock and a hard place. You can't afford the talent at the level you need so you must hire someone that you feel has the potential to grow into the job, grow with the business and is willing to work at the price you can afford.And you hired this guy??? :\
The S&P is up 61% over the last 10 years and the Dow Jones is up 60%The stock market has been flat for over 10 years, meaning that unless you are very skilled you are very likely not going to benefit from investing in stocks, mutual funds, etc.
Relating it to the kids is an important part of teaching but does seem to be getting lost. IMO its from a breakdown in our education system stemming from low parent responsibility/involvement, the teaching to the test mentality from NCLB and teacher performance reviews, teacher burn out, and an over concern from administrators about PCness and coddling the parents who vote for themWTF? I don't give a shit about Andrew and his bicycle. And why am I solving a problem for someone else? I want the newest XBOX360 and I want to be able to buy it. How do I get there with the money I have? Credit cards? Savings accounts? CDs? Checking accounts? What?
Unfortunately what little "financial education" there is often consists of dumb shit like stock picking contests that does more harm than good.I agree. i think financial education should be taught in high school.
I have a hard time believing it's not already in US schools. Math classes in Canada involved a lot of stuff about money and radioactivity because there are few practical examples of exponents and logarithms.I agree. i think financial education should be taught in high school.
Or you could just not be retarded. I use my credit card for everything, and I never write it down, but I've never been shocked to see the bill. Your bank account shouldn't be hovering anywhere close to $0. Even in the days of writing cheques, floating around $0 is when you start to use cash only.I was amazed when in college how many didn't know how to keep a checkbook (back then there were not as many debit cards etc.). kids would write checks and not put it in the ledger. then get bounced check fees and be shocked.