Answers are important but an informed, trained, questioning, curious mind is more important.
Most times information is not offered to us. We only receive it if we ask for it.
Some examples of questions a financially literate adult will know to ask are :
- What is the risk associated with my investment?
- What is the expected rate of return?
- What are the fees?
- What is the interest?
- How liquid is my investment?
- What are the chances of me losing my capital?
- What are the currency implications?
- What are the tax implications
- What are the terms?
- Are there any entry and exit costs?
Our children have time to learn. Let’s help them to use their time wisely. Let’s give them a financial education.