Bemoaning the lack of financial literacy among the young is a popular pastime. The problem involves the need for programs in the high schools, the lack of interest among students, and the ever-evolving complexity of the financial services industry. The result is that young people enter the work force and inevitably make numerous mistakes ranging from losing control of their credit cards to not saving enough early enough.
Here is a step in the right direction. When you show up at the college graduation barbecue party, put a copy of I Will Teach You to be Rich by Ramit Sethi on the gift table. This book speaks to young people and covers all the areas that a young person starting their first "real" job, getting ready to set up a household, and initiating a retirement savings program needs to know. When they are getting their first "real" paycheck, all of a sudden the subjects in this book become highly relevant. Timing, as in so many areas of life, is important.
The book is set up as a 6-week program and lists actionable items for the reader.
I recommend it highly.
If you are seeking investment help, look at the video here on my services. If you are seeking a different approach to managing your assets, you have landed at the right spot. I am a fee-only advisor registered in the State of Maryland, charge less than half the going rate for investment management, and seek to teach individuals how to manage their own assets using low-cost indexed exchange traded funds. Please call or email me if interested in further details. My website is at http://www.rwinvestmentstrategies.com. If you are new to investing, take a look at the "DIY Investor Newbie" posts here by typing "newbie" in the search box above to the left. These take you through the basics of what you need to know in getting started on doing your own investing.