Billions are spent every year on education. Technological developments have been made that would have been considered science fiction 25 years ago. Cars that can practically drive themselves and information at our fingertips, yet very little is taught about how to make wise decisions financially.
We graduate from high school or college, find a job, and in passing HR mentions this thing called a 401(k) to save for retirement. Most will ignore this early on, even though many companies will give you money when you participate. That’s for another blog.
Eventually, many will choose to participate in their company offered 401(k). With no idea how to pick funds, they will often ask a co-worker, “what did you pick?” And, that is what they choose, and many will never change. Not exactly a scientific method, and they wouldn’t know what they were looking at anyway. There is a better way, and it’s quite simple.
Next comes marriage, then kids, and before long you are pulling your hair out simply trying to keep up. What do you do? You need to save for retirement but how are you going to pay for college. What do you prioritize?! It can be overwhelming.
And, where can you find unbiased advice? Advice from someone that isn’t getting paid to sell you something or taking a piece of your savings every year whether you make money or not? Where can you find the education you need to make educated decisions?
How do I save for my kid’s college education in the most efficient way? How much am I paying for those mutual funds and is there a better choice? A one percent charge sounds small, but how much will that cost you over the next thirty years? (possibly hundreds of thousands) Am I missing something?
I spent 18 years in the belly of the financial planning beast, and I know there is a better way. My goal is to teach as many people as possible with classes through churches, schools, and businesses. Then, individually help families do it on their own but not alone!