Financial literacy, part 2
Good Wednesday morning!
In response to last week's email on "financial literacy" a reader (thanks Jim) replied with a good thought...
In Jim's words,
"At the same time, given the studies documenting the current level of financial illiteracy in the U.S., the fact that ERISA does not require that employees be provided with investment education is troubling. This would help parents pass what they learn on to their children."
You see, I made an assumption in last week's email that each of you had your finances sorted out and could pass along lessons and guidance to your kids, grandkids, etc.
As a reader of this weekly email you're obviously well above average in all respects 😉, but by the looks of things, most adults could use their own spoonful of education on personal finance, as Jim references above.
So if you, or someone you know - regardless of whether they're 18 or 81, would like to brush up on financial literacy, I have a recommendation for you.
Now, before I share what I believe to be a great, well-rounded financial resource, I ask one thing of you...
Don't judge a book by its cover.
I mean this literally.
Because while this book is called "I Will Teach You To Be Rich" by Ramit Sethi, it's actually a great resource for people of all ages.
Despite first impressions from that book title.
It's a book I've read and have recommended to probably hundreds of people over the years.
It aligns very closely with many of my own views on personal finance.
Everything from negotiating bills and fees, to managing your income and expenses, to setting up your investments, and improving your credit score.
In fact, the author has a blog that I've been reading for years as well.
His book is a great resource, but if you want to get a feel for his perspective before shelling out $13 for a book, here are a couple of his recent articles that I enjoyed:
Money Dials: The Reason You Spend the Way You Do (I really love this one!)
If you decide to read any of the articles above or if you buy or borrow a copy of Ramit's book, please reach out and let me know if you have any questions or would like to discuss anything.
I'm here to help, even if we never work together in a formal advisor/client relationship.
So don't be a stranger, and let me know what's on your mind...
Links & Things
I recently had the opportunity to join the "Own the Grey" podcast with host, Debra Jones. We covered a ton of topics related to women and finances. You can give it a listen here:
I can't keep count of how many times I've started a sentence with "I'm fascinated by..."
But here goes again: I'm fascinated by the idea of routines in our lives.
There are some routines that make our lives more fulfilling, and others that can feel like absolute drudgery. This is a topic I hope to share more on in the future. For now, check out my latest blog post:
Thank you, as always, for reading.
And if you have any questions or an idea for a future newsletter, blog post, or YouTube video, I'd love your input.
Just hit reply - I read (and appreciate) every email you send.
Until next Wednesday,
Russ
P.S. - as you're reading this, Elizabeth and I are exploring the coast of Maine. Hope to have a picture or two to share with you in the next week or two.