| In today's world of advanced technology there is no | | | | burden on his earning capacity and belonged to the |
| shortage of information on just about any subject or | | | | 'government' until he retired. This is a common belief |
| topic you want to explore. Hard copy magazines can | | | | by many young people today and surely points to |
| be bought in any supermarket or news agency on | | | | the failure of governments and older generations to |
| any topic from 'how to plant tomatoes' to 'how to | | | | pass on and educate people about the need for |
| build an aero plane'. The internet is now the most | | | | financial education. |
| used piece of technology for sourcing information | | | | The need for financial education is not limited to just |
| with over 1.6 billion users worldwide. If it's not on the | | | | the younger generations either. It's why more than |
| internet then it hasn't been discovered yet. | | | | 95% of the currently retiring baby boomer |
| For most of us financial freedom and prosperity are | | | | generation will retire on less income needed to |
| challenges that we all seek in our lifetime. It's the | | | | support a comfortable lifestyle. With the advances in |
| reason why so many of us spend money on | | | | technology and information, particularly the internet, |
| gambling and lotto around the world in the hope of | | | | everyone has the opportunity to become financially |
| achieving that dream without the pain and effort | | | | educated. That's why I called my blog 'Wealth |
| needed to get there under our own steam - and | | | | Happens Online'. The internet is not only a place |
| yes, I'm guilty too of trying to fast track my way to | | | | where you can learn about every aspect of financial |
| wealth and glory. In fact, according to an unverified | | | | education from saving for retirement, investing in |
| article found on the internet $224.3 billion was spent | | | | shares/managed funds, property investment, a |
| on legal lotteries throughout the world in 2007. $166 | | | | variety of alternative investments and business |
| billion of that figure was purchased online. I think | | | | opportunities but it's also a place where you can |
| that's called something like wealth redistribution. The | | | | source information on the need for financial |
| fact is only a few out of millions get to share in the | | | | education. |
| wealth. The rest of us will grow old and poor buying | | | | Understanding the need (or what your goals are) is |
| lottery tickets. This emphasizes the need for financial | | | | the first step to meeting the challenge to financial |
| education. | | | | freedom and prosperity. Since the GFC hit, the world |
| Saving for retirement and enjoying a more | | | | has become wary of financial advisers and others |
| prosperous lifestyle along the way is not impossible | | | | who give advice on investments. If you are |
| to achieve but it does require an understanding of | | | | compelled to use the services of a financial adviser |
| the need for financial education. As a 50 something | | | | rather than sourcing your own information on the |
| year old who has spent a lifetime in financial services | | | | internet then look for an adviser who understands |
| (I like to call it salt and pepper experience!) I still | | | | the need for financial education before 'selling' you on |
| come across too many examples of people who do | | | | investments. No matter what your age, |
| not understand the need for financial education. Only | | | | understanding the need for financial education is the |
| the other day I was speaking with a 21 year old | | | | safest and surest way to financial freedom and |
| apprentice carpenter who believed that | | | | prosperity. The alternative is to grow old and poor on |
| superannuation (retirement savings) was an imposed | | | | lottery tickets. |