financialeducation
Tim Pawlenty, president and CEO of Financial Services Round Table and former governor of Minnesota, once said, “Financial literacy is an important part of avoiding financial mistakes and planning for a strong, secure financial future.” He might not have realized it at the time, but this quote is spot-on. In a survey conducted by the National Financial Educators Council, 38% said their lack of financial literacy set them back at least $500 in 2022. And, this also includes the 15% who said it set them back by $10,000 or more. For comparison’s sake, in 2021, it was about 11%. Poor financial liter...
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In 1972, Congress enacted the Supplemental Security Income (SSI) program to ensure that disabled and blind individuals, as well as low-income elderly persons, would have a minimum level of income. The program replaced several existing programs that were funded through federal grants-in-aid to the states. The need for SSI arose from the fact that many disabled and elderly persons were living in poverty despite the fact that they were eligible for Social Security benefits. What is the Supplemental Security Income?Supplemental Security Income, or SSI, is a program that provides financial assistan...
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Poverty that persists across generations is known as generational poverty. One generation following another passes down poverty, which is not curable. The cycle of poverty is a long-term pattern of poverty in which everything begins again after it’s completed, persisting in a whole family. While there are several causes of generational poverty, one of the most prevalent is a lack of resources. In the absence of financial resources, parents are unable to live independently and raise their families. Having parents who are their children’s closest role models can lead to disadvantageous influence...
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How many times have you heard somebody say that they wish they had learned about money earlier? Maybe you’ve even said the phrase yourself. Wished you had a better financial education from the start so you could avoid some of the hefty mistakes that we can pay for well into our adult life. Well, you cannot go back in time, but you can make sure the teenagers in your life learn these lessons early on – and get to avoid the costly pitfalls. This might not feel like the most exciting subject to a teenager, but it might just be the best gift you can give them. Q1 2022 hedge fund letters, conferenc...
ValueWalk
How many times have you heard somebody say that they wish they had learned about money earlier? Maybe you’ve even said the phrase yourself. Wished you had a better financial education from the start so you could avoid some of the hefty mistakes that we can pay for well into our adult life. Well, you cannot go back in time, but you can make sure the teenagers in your life learn these lessons early on – and get to avoid the costly pitfalls. This might not feel like the most exciting subject to a teenager, but it might just be the best gift you can give them. By getting their finances off to a gr...
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It’s no secret that many of us are independent learners when it comes to managing our money. After all, according to a 2020 survey by the Council for Economic Education, only 21 states require high school students to take a personal finance course in order to graduate. As such, it’s little wonder adults are relying on online resources and books to learn more about topics ranging from budgeting, investing, and retirement planning. In general, personal finance books cater to specific groups of people. This could be millennials, women, or those approaching retirement. Because of this, it can be d...
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