This is CRAZY! Especially when you compare how much that $1 million would be if invested now - even conservatively. I'm amazed that not a single person around her pointed this basic math equation out.
That is sad. It is true we aren’t taught basic money management in school nor do most see it modeled well growing up. Thanks for your work in this area. Again, I will forward to my 24 and 22 YO son and daughter.
The most shocking part is that in Canada the $1 million is tax free and she still chose the $52,000 a year. Even if she did the dumbest / 'safest' investment imaginable she would get some kind of interest and still have the $1 million available for when she learned a bit more about investing etc. Shows complete lack of self confidence as well as the deplorable state of financial literacy in the general population.
This is CRAZY! Especially when you compare how much that $1 million would be if invested now - even conservatively. I'm amazed that not a single person around her pointed this basic math equation out.
One thing I meant to mention in the post but neglected…. What if she dies early?!?! Tragic
That is sad. It is true we aren’t taught basic money management in school nor do most see it modeled well growing up. Thanks for your work in this area. Again, I will forward to my 24 and 22 YO son and daughter.
It hits hard when you run the numbers. Thanks for forwarding!
The most shocking part is that in Canada the $1 million is tax free and she still chose the $52,000 a year. Even if she did the dumbest / 'safest' investment imaginable she would get some kind of interest and still have the $1 million available for when she learned a bit more about investing etc. Shows complete lack of self confidence as well as the deplorable state of financial literacy in the general population.