Many people think this is financial education. On television we hear so-called financial experts saying, “ Go to class, get good grades, so that you can have a good job. Save money. Cut up your credit card and stay out of debt. Your house is an asset. Do not spend your money.
There’s nothing wrong with spending money as long as it is spent wisely. I personally invest a big percentage of my income. Again you must know what to invest in. You must have the financial education to be an investor. The knowledge of a particular field is mandatory. Whether it is stocks, bonds, commodities like gold and silver.
Investing in gold can be good or bad. It all depends when you get in. The same can be said with crypto currencies. It’s also of upmost importance to know when to get out. Sometime I like to say there’s no bad investment only bad investors.
In the name of financial education , schools also bring in financial planners who train your minds to believe that “ investing in a registered retirement saving plan (RRSPS) is the right thing to do. Mindlessly sending your money to complete strangers is not the end result of good financial education.
Those who profits the most from financial ignorance are Bank of America, Merrill Lynch, Goldman Sachs, and Lehman Brothers (too bad, they’re gone).
These companies continue to hire the best students from the top schools in the world and train them to run their companies and sell their financial products. They are financially ignorant and are trained to make their company richer. Basically you are being used like a pawn.