Today I want to share some articles that I think our young adult blog readers might find interesting, useful and fun. Please share this post with your friends (or send this to your kids) — and enjoy! Also, don’t hesitate to sign up for our blog updates so you can keep learning more about personal finance.
- “If You Can: How Millennials Can Get Rich Slowly” by William Bernstein [available for free in acrobat, mobi, and Kindle formats; feel free to upload and redistribute these three files at will.] “All they’ll have to do is to put away 15% of their salaries into a low-cost target fund or a simple three-fund index allocation for 30 to 40 years. Which is pretty much the same as saying that if someone exercises and eats a lot less, he’ll lose 30 pounds. Simple, but not easy. ” “Not easy because unless the millennials learn a small amount about finance, they’ll fall victim to the Five Horsemen of Personal Finance Apocalypse: failure to save, ignorance of financial theory, unawareness of financial history, dysfunctional psychology, and the rapacity of the investment industry.”
- Another good (quick) read if you want to learn more about investing Enjoy a Summer Read: “The Investment Answer”
- I also highly recommend “The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money” by Carl Richards. And his newsletter.
- Why you need a Power of Attorney and Advanced Medical Directive. Ugh, right? But necessary documents.
- Another resource I like is The Mint – tips for teens. Read through each tab – earning, saving, spending, owing, tracking, giving, investing, safeguarding. Each topic represents an essential pillar in the foundation for your lifetime of wise financial management.
- Another source I like is [email protected] High School, which offers a host of articles and videos created specifically for high school students on topics from business to entrepreneurship to college.
- The beauty of a Roth IRA, especially if you start young. “Time is money – start saving now”
- I’m repeating myself as I shared this with you last month, but it’s THAT good. A Guide for Young People: What to Do With Your Life (Leo Babauta) “Learn to be good with discomfort. Overcome distraction and procrastination. Build something small. Become trustworthy. And more…”
Sage Serendipity: The Greatest Commencement Addresses of All Time How did yours stack up? I can’t even remember who spoke at my graduation…