YOUTH
BALANCED WEALTH EDUCATIONAL SYSTEM
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High School Senior Year Preparation
Having sons in high school has given me an insight into the need for
a Youth Balanced Wealth Education System. The mass marketing
of television, magazines and newspapers advocate the need for consumer
spending using credit cards (interest rate of up to 21%) and the need
for expensive vacations and new automobiles which will depreciate almost
100% in five years!
The scholastic curriculum should include the following:
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How to minimize federal and state income tax liabilities currently
ranging between 32%-48% combined. |
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How to maximize the use of IRA and 401(k) accounts
to reduce federal and state taxes as soon as students commence working. |
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How to establish a strict budget in proportion to the income generated
or the allowance given to the student. This will emphasize the importance of not
spending more that they
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earn! |
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How to manage a checking and savings account.
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How to get them involved in investments of mutual funds and the
stock market.
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The huge importance of maintaining a perfect credit rating.
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How real estate investments can become a significant hedge against
inflation. Click here for an example.
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"IT IS NOT HOW MUCH YOU EARN,
IT'S WHAT YOU CAN KEEP THAT COUNTS"
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