I love my parents. They've given the world to me and provided unwavering support and love from my childhood into my adult life. I wouldn't change anything about them.
However, when it comes to finances and the road to personal wealth - I'm on my own. It's not my parent's fault really. They are the product of their generation and lived in a world shaped by a world war and the invention of the nuclear bomb. Their parents changed the course of human history and rebuilt a country that defined the modern understanding of the "American Dream." A house with a white picket fence, modern kitchen appliances and cold lemonade to enjoy on the porch during summer.
What about the future? What about investing and growing wealth through world finical markets? What about saving and living a humble life spending less than you earned? These concepts didn't make their way into the American Dream. Having just conquered the world Americans wanted to celebrate, consume and enjoy the precious life they fought so long and so hard to preserve. The instability and uncertainty of entire nations crushed any notice that it was prudent to put earned american dollars into the world financial markets. Money needed to be invested in America in something tangible, in something real. Home ownership became the backbone of the American Dream. It became the sole piece of equity for many families for generations to come.
Today investing and saving money is easier than it's even been and yet it befuddles most Americans. Smart, ambitious and successful Americans are among the financially illiterate. There are thousands of college graduates working in good jobs for huge companies with no idea how or why they should invest in their 401(K)s...Conversations about IRAs and ETFs drive people over the edge. Safety and comfort is found in the latest that social media has to offer.
Risk and reward, stocks and bonds, mutual funds and options, calls and puts, it can be and often is too much for people to want to understand. They just want the simple life that their parents had. You get a job, you work hard, you buy a house and you don't have to worry. Owning a house builds equity they say. It's easy to understand because you can touch it, you can live in it, you don't waste money on rent and the value goes up with each passing year. Don't forget about your company pensions and social security, they'll certainly help pay for everything else....
Life doesn't work like that anymore, but fear not things are better than ever! The tools we have access are amazing, the free resources and information is endless, and best of the cost of making an investments is cheap, insanely cheap and in some cases free. We're now living in an edge that brings you automated investing. You heard it hear first, Betterment will change the face of investing like you never thought possible. A smart, simple and beautiful investment service that is down right affordable.
Do you want to be a millionaire? No problem, save earlier, save as much as you can afford, which is way more than you think, and invest. Jack Bogle sage's advice is almost suspiciously simple. Buy a Total Market US Index Fund, and hold it forever. After a life time of investing the greatest investors of all time come to realize that investing in capitals markets is way easier than it appears to be. Sometimes it's only at the end of a journey to all the dots connect. We're blessed to live in the information age and implement today what others took a life to learn.
Take it upon yourself to learn and plan your financial future. To more you learn, the more you earn. Don't worry we'll be here to help you along the way.