Reply to Do you colleagues/friends talk about money? Ever surprised by what you hear?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I was really uninformed/ignorant in my 20s and had no idea what maxing a 401k meant. I didn't start saving until 30 and even then I only did 10%.

Reading DCUM was an eye opener and encouraged me to start maxing both 401ks and be more aggressive saving for college.

I wish more people openly chatted about this at work or wherever, because unless you start reading books about finance it's not really covered anywhere.

[b]I also think they should teach a basic personal finance course in high school. [/b]At least it gives kids a basic foundation if it's but something their parents discuss. [/quote]

You are so, so right.  They really should.  My parents did discuss finances with me, but without that I wouldn't have known what to do.  [/quote]

I know people say that but if they do it at the high school level you know it'll be watered down to checking vs. savings; how to write a check; credit scores etc. Do you really think they'll cover 401ks vs. IRAs, mortgages, HELOCs etc. with a bunch of 18 yr olds. And do you really think those 18 yr olds will listen and absorb it? Those who will absorb it are the ones who already have some interest and they would be the types who would look into retirement savings post college on their own and/or they have some parental discussion of finances happening at home. Unless 18 yr olds are SO much more mature than they were 15 yrs ago -- I don't see even 50% of kids in my high school having any interest or doing anything besides rolling their eyes.[/quote]

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