Financial Literacy- Today’s Challenge, Tomorrow’s Dilemma

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Financial Literacy-Required Reading

Everyone knows the 3 R’s…readin’, writin’ and ‘rithmatic. But there is a fourth R. And this one promises to make the other 3 look like small potatoes indeed, unless we come to grips with it and begin seriously teaching our children and young adults this critical class. The fourth R is Retirement.  “Huh”, you say, “Isn’t that automatic? Doesn’t it just happen?” Apparently not, just like financial literacy isn’t part of the school curriculum.

Isn’t there still going to be traditional retirement? Not so much, and even based on the government’s own numbers and statistics it will not happen in the same way for much longer into the future. Okay, so what does that have to do with financial literacy and getting our youth to realize the importance of understanding money and how it works in our society? As it turns out, it has everything to do with it. You see, financial literacy and retirement are linked as tightly as apple pie and the American Dream.

What’s The Value Of Financial Literacy?

financial literacy

It is now very apparent that there is going to be less and less available from government to help to carry us through our years of retirement. Anyone who believes that we can continue on in the same way that we have, needs to wake up and smell the coffee. We are OUT OF MONEY. Our collective governments are OUT OF MONEY. So who is going to pay for all the social programming including many of the retirement benefits that people ’enjoy’ now, limited though they might be?

I would strongly advise you to look carefully at your company or union pension plans before you begin to get all comfortable in that LazyBoy and pop the top on another cold one. Odds are good that they are not all that healthy and that if current trends continue, ie lots of retirees and declining numbers of contributing members, that soon they too will be OUT OF MONEY.

Ok, I am sure by now you get the point. We are in one heck of a mess and it is going to get a lot worse. Now it isn’t going to get a lot worse for everyone, though it likely will for you and I if we don’t get out heads out of the sand and begin to proactively attack this problem. There are some things that are certain. We WILL grow older. We WILL live longer. We WILL need more money than ever before to pay for our care and medical costs as our health begins to falter, and our abilities to do things for ourselves diminishes. And what about the years between retirement and dependency? How do you want to spend them?

Unless you are like a few that prefer an austere and bleak minimalist lifestyle, I am sure you will agree that it takes a certain amount of money to just have a good life, or to enjoy oneself in a reasonable way. I’m not talking about 18 rounds of gold or skiing every day, or even going to the Bahamas or Hawaii for four months every year, I’m just talking about not having to worry about every dollar and whether you can afford to do something or not.

So what’s the solution? Clearly we need a plan of attack. No cavalry is in sight that will ride in and save the day. Tune in tomorrow to hear why financial literacy is going to be a huge weapon in this war.

Till Next Time….

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Sigrid McNab

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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5 Responses to “Financial Literacy- Today’s Challenge, Tomorrow’s Dilemma”

  1. Dagmar Wichary Says:

    So true,if we do nothing about it we will be sorry later.Looking forward to tomorrow

    [Reply]

    sigrid Reply:

    Thanks for sharing and stopping by Dagmar…

    [Reply]

    Reply

  2. Hale Pringle Says:

    You are singing my song. You just sing it a lot better than I do! :)

    [Reply]

    sigrid Reply:

    Ha ha, thanks Hale!

    [Reply]

    Reply

  3. Hale Yes Says:

    You are definitely singing my song. You just sing in this field SOOO much better than I do.

    Oh Hale Yes!
    Hale Yes recently posted…Productivity Tip to Combat Large Project OverwhelmMy Profile

    [Reply]

    Reply

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