In a recent survey by JumpStart Coalition for Financial Literacy, only 26 percent of those between the ages of 13-21 said that they had been taught how to manage money. Yet, when they turn 18, kids are signing contracts for student loans, opening credit card accounts, and in many instances, living away from home with little financial guidance available.
A post-secondary degree is essential to earn a foothold in the workforce.
If you’ve ever played the Game of Life board game, it becomes clear that compressed into the colorful path there are various stages of life. Each stage holds its own major financial challenges as well as prospective profits in addition to surprises (new baby!) and forks in the road.
Here's a stat for you: in 2011 the Social Security Administration stated that a 20-year-old has a 30% chance of being disabled and unable to work for six months or longer prior to reaching retirement age.
It's an interesting thought actually - not because the topic itself is all that fascinating. But simply because for something typically so far on the back burner it's almost off the stove, the chances of it happening to either you, your spouse, or your best friend is almost a statistical lock.