Tuesday, May 15

Teens overly optimistic about earning potential? Huh?

According to an annual survey recently released by Charles Schwab & Co. Inc. , our teens may be overly optimistic about there future income.

A recent article in ACA International says;

"Highly motivated by money, eight in 10 teens ages 13–18 agree that “it’s important to me to have a lot of money in my life,” and nearly three–quarters (73 percent) believe they’ll be earning “plenty of money” when they’re out on their own. In fact, American teens confidently predict a future in which, based on the career that interests them most, they will be earning an average annual salary of $145,500 (boys expect $173,000 vs. girls, $114,200). The reality: Only five percent of the U.S. population currently earns a six–figure income, and the average national wage stands at approximately $40,000."

We as parents and leaders, should do our level best to help our kids reach their financial goals. This article in ACA International and survey by Charles Schwab & Co. Inc. suggests that our kids might have high expectations of themselves. Well, what's wrong with that? The higher the expectation, the more likely it will happen.

Let's nurish our kids expectations of themselves! How dare we suggest to them that their dreams aren't possible or likely? Let them go for it! Let's get them the financial education that they need to make their income dreams and financial goals a reality! Talk to your schools, banks and credit unions. Get the professionals in front of your kids to help them learn about money and credit. Have your kids visit this blog on a regular basis! Click here for another good site for your kids to learn about money and credit.

We owe it to our kids. Don't be one of the nay sayers. Encourage your children to achieve their hopes and dreams!

Be sure to visit FIRE Finance for information about financial freedom!


FIRE Finance said...

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Vince Cordic said...

"How dare we suggest to them that their dreams aren't possible or likely? Let them go for it!"

I completely agree.. Like Henry Ford said, "Whether you think you can, or you think you can't, either way you are right".

I hate to see people who shatter their kids, or even other people's dreams simply because they're either jealous, naieve, or brain washed by society (to name a few).