Wise advice Tim. Take heart. With the Superintendent’s encouragement, the SB Unified School District Board recently established a financial literacy elective course in all SB high schools. And there may be on the ballot this Fall a measure to make a financial literacy course a graduation requirement in all California high schools.
My early life experience in this regard mirrors that of J. Livingston.
Also of the depression era, my parents taught me the essentials of managing money. At the age of 14, I was a paper boy. At the age of 15, I also got my first full-time job. I was very proud when I gave my mother 10 shillings towards the expenses of the household.
From those early days, I learned the wisdom of saving money and avoiding "The Never-never" to make purchases. Being poor is a great incentive to become financially self-sufficient.
Young people will be required to pay off the massively underfunded public pension liabilities, run up in their names by today's elected officials. These amounts vary from state to state, but California's underfunded public pension liabilities are among the nation's highest.
Under a recent California Supreme Court ruling, these future government pension obligations cannot be modified. They must be paid in full, even though this final amount remains unknown due to these unmodifiable defined-benefit public pension contracts, and the variability of public pension fund investment returns along with other unknown actuarial factors.
These underfunded public pension obligations will hit young people in two important ways: (1) more present tax dollars must be diverted off the top to fulfill the current pension fund shortfall obligations, which means (2) higher additional present taxes will be required to pay for current government services and infrastructure maintenance.
Young people need to understand they will be paying more than their "fair share" to meet these underfunded public pension obligations, since they played no role undertaking them. These future public debt obligations passed on to them do require young people be better informed voters, as well as more personally financially savvy about their own future accounts.
Term-limits has meant no one was required to take responsibility for this long-looming problem . It keeps getting kicked down the road to the next group of term-limited elected officials. The standard response has always been ......."they'll find the money" ...... is running on fumes now, since the state is currently facing budget deficits and consistently gets ranked as one of the most business-unfriendly states in the nation.
Young people will need to turn this around, if they want a future for themselves in California.
Mr. Tremblay, perhaps you can get both the Santa Barbara City Council and the City Administrators office to look at the cost expenditures, the long range outcomes, and the cost per person using their touted "alternative transportation" and the devastation it has wrecked upon the business community of the City and middle class.
Just a thought. 100's of millions spent on failed projects and not one taking responsibility while hiding behind sovereign immunity.
Good 5 point reminders Tim, for everyone to know from the young to the old.
I am teaching two zoom classes to 5 young teenagers. I had them all sign up for the Fidelity Youth Program, opening their own accounts. They are learning about investing, analyzing stocks, discussions about debt and dollar cost averaging. We are having fun and I notice the mom’s in the back of the room taking notes! Start when they are young, 13 yrs old and they will have a firm foundation
I wish someone would have taken the time to educate me on these things when I was young. I didn't start my retirement account until I was nearly 40. Never even thought about it. I am now much more financially savvy, but sure wish I'd had some of this advice when I was young. Kids today will need it even more than I did, since housing and living is so expensive now, everywhere.
Zillow-surfing for lower cost housing areas is very revealing - lower cost housing remains available throughout this country, and even within the state. Owning one's home remains one of the best investments on can make Wherever one finds it.
I DO own a home in Santa Barbara county. You do not need to explain real estate to me. It was incredibly hard and I didn't get it on my own, I had to have help.
Cost to be alive exceed ability to save. I spent my saved retirement from ages 20-40 when I chose to birth a child. It costs about $400K to raise a kid, but it’s worth it. Then at age 60,if able, start the saving process over.
Two messages we got constantly from our Depression Era parents: (1) no one owes you a living; and (2) always have something to fall back on. Rudimentary financial planning was incumbent to fulfill these two simple oft-spoken goals.
Another one: always make yourself valuable to your employer. Jobs, any job, were so precious to that Depression Era generation.
I read this very important article by Mr. Tremblay about "Basic Responsiblity" for our children and I
quote "Young people are not equipped to handle their finances for many reasons. Parents, for example, have taken financial responsibilities out of the hands of their children."
What Mr Tremblay is saying, is that Parents have a core duty to their children to bring them
up in this world understaning their "Basic Responsiblities" at an early age. These responsiblities
among many are fiscal responsibilty, being accountable, work ethic, basic civic responsiblities
and just treating people the way you would like to be treated. You could also say that you
must give your children and understanding of the "Cosmos" introduce them to concepts of
divinity and what is now looked down upon as a Basic Concept of a force for good .......... God.
In today's world where our so-called-leaders allow our statutes to be ripped down, our flags
burned and even our children's bodys mutilated for "Social Justice" it is a hard place to find
any core values. As Mr. Tremblay's profession, finances, has shown a his high degree of responsiblity
it is admirable that he gives back to his community. The only question now is "What Community"
do we have and here in Santa Barbara and just maybe it is time to completely overhaul "The SB Community" that long ago was broken by those that now control it.
Good luck. My life long experience in dealing with people in a bank has shown that most people can not think past the end of their nose. Financial planning requires you have the ability to think beyond the here and now. Dave Ramsey has the recipe for financial peace. Too bad he is such a money whore himself as he provides nothing for free.
Good luck. The vast majority of adult’s do not understand financial aspects of their lives They can not see beyond the end of their nose. Dave Ramsey has the recipe for financial peace too bad he is such a money whore himself as nothing he provides is free.
Boy Scout merit badge
Financial Management
Does all this.
Check out requirements on line.
I’m assistant scoutmaster & merit badge counselor here in HB City.
50% credit card holders don’t pay off card every month so at least 50% of parents are clueless!!!
David Ramsey is a good place for young people to start, although no credit cards are untenable in modern society.
It took me 5 minutes to understand your comic strip.
Too sophisticated.
Money Work’n for me
Instead of
Me Work’n for my money.
Wise advice Tim. Take heart. With the Superintendent’s encouragement, the SB Unified School District Board recently established a financial literacy elective course in all SB high schools. And there may be on the ballot this Fall a measure to make a financial literacy course a graduation requirement in all California high schools.
My early life experience in this regard mirrors that of J. Livingston.
Also of the depression era, my parents taught me the essentials of managing money. At the age of 14, I was a paper boy. At the age of 15, I also got my first full-time job. I was very proud when I gave my mother 10 shillings towards the expenses of the household.
From those early days, I learned the wisdom of saving money and avoiding "The Never-never" to make purchases. Being poor is a great incentive to become financially self-sufficient.
Young people will be required to pay off the massively underfunded public pension liabilities, run up in their names by today's elected officials. These amounts vary from state to state, but California's underfunded public pension liabilities are among the nation's highest.
Under a recent California Supreme Court ruling, these future government pension obligations cannot be modified. They must be paid in full, even though this final amount remains unknown due to these unmodifiable defined-benefit public pension contracts, and the variability of public pension fund investment returns along with other unknown actuarial factors.
These underfunded public pension obligations will hit young people in two important ways: (1) more present tax dollars must be diverted off the top to fulfill the current pension fund shortfall obligations, which means (2) higher additional present taxes will be required to pay for current government services and infrastructure maintenance.
Young people need to understand they will be paying more than their "fair share" to meet these underfunded public pension obligations, since they played no role undertaking them. These future public debt obligations passed on to them do require young people be better informed voters, as well as more personally financially savvy about their own future accounts.
Term-limits has meant no one was required to take responsibility for this long-looming problem . It keeps getting kicked down the road to the next group of term-limited elected officials. The standard response has always been ......."they'll find the money" ...... is running on fumes now, since the state is currently facing budget deficits and consistently gets ranked as one of the most business-unfriendly states in the nation.
Young people will need to turn this around, if they want a future for themselves in California.
Mr. Tremblay, perhaps you can get both the Santa Barbara City Council and the City Administrators office to look at the cost expenditures, the long range outcomes, and the cost per person using their touted "alternative transportation" and the devastation it has wrecked upon the business community of the City and middle class.
Just a thought. 100's of millions spent on failed projects and not one taking responsibility while hiding behind sovereign immunity.
CarsAreBasic.org
Good 5 point reminders Tim, for everyone to know from the young to the old.
I am teaching two zoom classes to 5 young teenagers. I had them all sign up for the Fidelity Youth Program, opening their own accounts. They are learning about investing, analyzing stocks, discussions about debt and dollar cost averaging. We are having fun and I notice the mom’s in the back of the room taking notes! Start when they are young, 13 yrs old and they will have a firm foundation
I wish someone would have taken the time to educate me on these things when I was young. I didn't start my retirement account until I was nearly 40. Never even thought about it. I am now much more financially savvy, but sure wish I'd had some of this advice when I was young. Kids today will need it even more than I did, since housing and living is so expensive now, everywhere.
Zillow-surfing for lower cost housing areas is very revealing - lower cost housing remains available throughout this country, and even within the state. Owning one's home remains one of the best investments on can make Wherever one finds it.
I DO own a home in Santa Barbara county. You do not need to explain real estate to me. It was incredibly hard and I didn't get it on my own, I had to have help.
Cost to be alive exceed ability to save. I spent my saved retirement from ages 20-40 when I chose to birth a child. It costs about $400K to raise a kid, but it’s worth it. Then at age 60,if able, start the saving process over.
Two messages we got constantly from our Depression Era parents: (1) no one owes you a living; and (2) always have something to fall back on. Rudimentary financial planning was incumbent to fulfill these two simple oft-spoken goals.
Another one: always make yourself valuable to your employer. Jobs, any job, were so precious to that Depression Era generation.
Teach basic financial literacy in schools grades 5th-10th, before economics class.
Thank you writing this; perhaps sending this to the high school counselors would be important info for their students.
I read this very important article by Mr. Tremblay about "Basic Responsiblity" for our children and I
quote "Young people are not equipped to handle their finances for many reasons. Parents, for example, have taken financial responsibilities out of the hands of their children."
What Mr Tremblay is saying, is that Parents have a core duty to their children to bring them
up in this world understaning their "Basic Responsiblities" at an early age. These responsiblities
among many are fiscal responsibilty, being accountable, work ethic, basic civic responsiblities
and just treating people the way you would like to be treated. You could also say that you
must give your children and understanding of the "Cosmos" introduce them to concepts of
divinity and what is now looked down upon as a Basic Concept of a force for good .......... God.
In today's world where our so-called-leaders allow our statutes to be ripped down, our flags
burned and even our children's bodys mutilated for "Social Justice" it is a hard place to find
any core values. As Mr. Tremblay's profession, finances, has shown a his high degree of responsiblity
it is admirable that he gives back to his community. The only question now is "What Community"
do we have and here in Santa Barbara and just maybe it is time to completely overhaul "The SB Community" that long ago was broken by those that now control it.
Howard Walther, member of a Military Family
Good luck. My life long experience in dealing with people in a bank has shown that most people can not think past the end of their nose. Financial planning requires you have the ability to think beyond the here and now. Dave Ramsey has the recipe for financial peace. Too bad he is such a money whore himself as he provides nothing for free.
www.johnbriscoe.us
Good luck. The vast majority of adult’s do not understand financial aspects of their lives They can not see beyond the end of their nose. Dave Ramsey has the recipe for financial peace too bad he is such a money whore himself as nothing he provides is free.