It seems that investing is the key to class mobility. With a simple retirement account and even limited knowledge of the stock market and other investment vehicles, one can easily go from lower to middle class, middle to upper, and the rich can stay rich forever. So my question is: why isn’t this information standardly taught in schools, and are there any places where it is? What would be the deterrent to such a class – higher earnings and inflation?
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March 21st, 2010 at 3:21 am
Not that I know of but try to listen to dave ramsey every now and then. . . he has some great advice for anyone with financial questions or difficulties.
March 21st, 2010 at 3:46 am
Economics is required at my high school. We’re learning a little about the stock market and one of the things we’re doing is a game called “stock market” in which we pretend like we’re investing. I’m sure there must be other high schools that do the same thing.
March 21st, 2010 at 4:20 am
no, they are optional.
March 21st, 2010 at 4:21 am
No, they are too busy teaching kids about banana’s and condoms. You have to remember, we live in a capitalistic society and if everybody was taught how to succeed it would raise the bar for the upper class as well. I’m not knocking our system or the teachings of banana’s and condoms just answering your questions from one point of view.
March 21st, 2010 at 4:42 am
Hi, Kevin,
I’ve spent many years working for a government agency in
the inner city of a large city.
Many people I’ve spoken with, who are veterans of the local
school system, are still locked in a poverty mentality.
They don’t know or care about investing. They think you have
to be rich to have a checking account, so they waste money
on money orders. They waste money on whole life
insurance but wages earners don’t insure themselves for
the sake of their children because it’s just for burial.
I could go on, but you get the point.
Years back I mentioned to a co-worker who used to live in
Chicago that public school systems ought to teach basic
finances. I didn’t mean how to invest — I meant how to
balance a check book.
She told me that was tried in Chicago, but all the leftwing
political and racial groups got up in arms about it and got
the proposal stopped.
Many groups in this country want to keep poor people poor,
so they remain dependent on government aid.
So this answer is more political than about investing, but
it’s a sad fact about our country today. Too few people
understand and appreciate capitalism. We have many
enemies who call themselves good Americans.
Something to think about when you go to vote this November.
best, Rick Stooker