EDUCATION IS THE ANSWER, WHAT'S THE QUESTION? ®

Excerpts from recent polls and studies highlighting the need for financial education in America.
and we wonder why America is in the RED

America faces a financial literacy crisis. At a time when more Americans than ever before have been investing in our securities markets through the purchase and sale of stocks, bonds and mutual funds, numerous studies show they lack the financial basics. Americans need to learn what questions to ask before investing, how to evaluate financial products and professionals, and how to protect themselves in the marketplace. A well-educated investor provides the best defense--and offense--against securities fraud.

Americans also need to learn the mechanic--and benefits--of financial planning. Few Americans develop financial plans to save for their important financial goals, such as retirement or their children's educations. Yet, those who do develop a plan, regardless of income level, consistently save more.

Key findings of the various studies and surveys showed some very interesting facts:

• Only 5% of investors believe they know "everything" they need to know to make good investment decisions.

• Tow out of three households in America--an estimated 67 million households--will probably fail to realize one or more of their major life goals because they've failed to develop a comprehensive financial plan.

• More than half--65 percent--of all current workers have even tried to figure out how much money they need to save and accumulate for retirement.

• An alarming number of high school students--70% flunked a basic economic literacy test. Among adults taking the same test, only one-third achieved a score of C or better, and more than half---56 percent failed.

The good news, however, is that education can help, and Americans want to be educated...so EDUCATION IS THE ANSWER, WHAT'S THE QUESTION? It is certainly not hard to see where we are falling short in our educational system here in America. Education needs to refocus to ensure that all Americans are armed with the information they need to make sound financial decisions and protect their hard-earned savings.

I was one of the fortunate ones here in America...or maybe not so. I feel very honored to have the privelge of graduating form UC Berkeley, a top university in America, back in 1974. I received my degree in marketing. I was very interested in economics and took some of those courses as well. I am here to tell you that through that journey, I NEVER even heard the word "mortgage". Is that crazy or what? Imagine the most significant asset I will ever own and no education about it until I got my first one. Whew!!! Was I shocked, even got screwed in the deal. I never even learned about balancing my checkbook...LOL

It seems that the basics in life continue to be ignored in our education system. Other than the discipline of learning, I can't recall when I last used trigonometry or algebra in my check book. Oh well I take that back...I did imagine on many occassions that y=$10,000.00...LOL...guess what the check bounced.

What seems so amazing to me that leaders continue to believe it will all change someday...and with no change on their part. Can you imagine actually believeing we can change the undesired results we are getting without changing the course of action. Don't know about anyone else here, but I followed my mom and dad around like a puppy dog, doing what they did. Then my dad passed away and I stopped following him. I got this great idea that I wanted more than he had, not because I am a materialistic person, just because I had 3 children and wanted more for them.

We as a people have to unite, strive to change this and do it now. We, the adults have to do it, because our children mirror us. I would encourage us to get our educators on line with this so we can change America.