Page 176 - September 2023

FINANCIAL PLANNING
The topic of educating young minds was sparked by my recent trip to Greece. I had the privilege of grabbing lunch with one of our clients right near Syntagma Square in Athens. She talked about her daughter and how she needs to get started
GET STARTED YOUNG
According to Albert Einstein, one of the most powerful forces is compounding interest. To receive the full benefit, it’s critical to start investing young. I’m sure most of you reading this are well over the age of 14. My focus here is
association between subjective financial indicators and depression. All the studies discovered sound evidence between financial stress and depression in high-income countries including Europe, the US, the UK, Japan, Korea, and China. All of them reported a positive correlation between financial
EDUCATING
YOUNG MINDS by Cade Peterson, Financial Advisor
with investing, but she isn’t familiar enough with the stock market to trust it. Believe it or not this is quite common, and easy to fix. Working with people that are unfamiliar is far better than those who claim they have it all figured out. The folks that do not understand are almost always open to learning about the stock market and eventually they get to the point to where they are confident enough to pursue it. It all starts with education and the desire to never stop learning.
more to encourage the reader to educate their kids, grandkids, nieces, and nephews. The beauty of investing at a young age is that kids can develop
a certain fondness to investing and growing their nest egg. Even if kids do not have any money to invest, at least they will have the knowledge to get started when they have built up a savings account. Another important factor that is not talked about enough is quality of life. It is proven that kids
who have a financial support system are better equipped for a future without depression and anxiety. I found eleven studies that examined the
strain and depression.
This goes to show the importance of
getting ahead of the curve. Starting to invest at a young age can directly impact the happiness of the individual for the rest of their life.
One of the major benefits of starting young is the extra time to recover from the downturns. Someone who starts investing during their teenage years will likely be an investor for 60-70 years given that they stay healthy. This chart goes back 50 years and illustrates market growth throughout major economic events.
It all starts with education and the desire to never stop learning.
174 SPEEDHORSE September 2023