6/13/2009

FINANCIAL LITERACY

It is remarkable that of all the basic life skill related subjects that we include in our children's early curriculum financial literacy is not one of them.......given that we live in a money economy. It is said that we each have a "Money Personality". Nothing could be more accurate and more life defining.

To successfully execute a plan for retirement an individual cannot succeed without a fundamental understanding of the time value of money. It is too late to become aware of the subject at age 45. By that age an individual will have foregone 85% of the potential capital accumulation possible had they begun their savings program at age 25. Tragically, they will be required to save at 6 times the rate they would have had to had they begun 20 years earlier. No variation of tax planning solves this problem.

The question is: "Why is this fundamental subject ignored by governments, educational institutions, financial institutions and the public at large?" The impact on our lives is profound.

The current global financial meltdown has had a seismic impact on our society in large part because of this dramatic shortfall in our personal development of financial literacy.

We are committed to its promotion through the best and the brightest professional financial retirement practitioners in Canada.

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