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Show HN: In a single HTML file, an app to encourage my children to invest

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Re: Show HN: In a single HTML file, an app to encourage my children to invest

#111

Post by tianreyma »

yed wrote: post #64

> One thing that school doesn’t teach you (not even high school) is how to manage your personal finances. Can we stop with this myth? Most states require financial literacy courses to graduate. The reason it feels like it isn't happening is because it's boring and most just don't pay attention or absorb the lessons.

> Most states require financial literacy courses to graduate.

Prior to 2020 only 8 states required a standalone financial literacy class. So a good percentage of people from the US on here probably didn't have to.

There were also states that had it integrated with another course but I'd question if they were any good. My state was like that and all we did was a 2 week project where we pretended to trade stocks starting with $1k. Which didn't even include things like dividends, short vs long term capital gains tax, etc...

We weren't taught basic things like budgeting, planning for emergencies, how loans and interest work, how taxes work, how credit scores work and affect you, etc...

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#112

Post by nxor »

rkomorn wrote: post #105
nxor wrote: post #97

Earlier quoted context omitted.

It's not true for the US.

https://www.ngpf.org/blog/advocacy/how-many-states-require-s... It's apparently now 30 states.

Are you from the US? I went to a good high school and even that class was awful. No one wants to teach it and genuinely, you learn more about money in history, english, science, and math. Additionally, you can take it online and over the summer, which kids do so they can take nicer looking classes. Granted, students with a work ethic tend to learn these things on their own.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#113

Post by internet_points »

tinfoilhatter wrote: post #107
bilekas wrote: post #103

Earlier quoted context omitted.

> Financial literacy is a gift, and absolutely omitted from standard education, which is unfortunate. With my tinfoil hat on, I feel like that is by design.

I don't think you even need to wear a tinfoil hat to reach this conclusion. Knowing about the origins of the modern outcome-based education systems in the West (we borrowed from the Prussian education system which replaced the classical education system based on the Trivium and Quadrivium) I would assert that your claim is spot on.

you should know haha :)

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#116

Post by tinfoilhatter »

internet_points wrote: post #113
tinfoilhatter wrote: post #107

Earlier quoted context omitted.

I don't think you even need to wear a tinfoil hat to reach this conclusion. Knowing about the origins of the modern outcome-based education systems in the West (we borrowed from the Prussian education system which replaced the classical education system based on the Trivium and Quadrivium) I would assert that your claim is spot on.

you should know haha :)

I wear it proudly!

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#117

Post by RealStickman_ »

alxmdev wrote: post #110
bilekas wrote: post #103

Earlier quoted context omitted.

> Financial literacy is a gift, and absolutely omitted from standard education, which is unfortunate. With my tinfoil hat on, I feel like that is by design.

Probably, because everything would collapse if everyone was an "investor" and fewer people did actual work to keep the world going.

This type of investing isn't about day trading following the latest hype. It's about putting some surplus money to better use for when you need it in 10-20 years.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#118

Post by koakuma-chan »

alxmdev wrote: post #110
bilekas wrote: post #103

Earlier quoted context omitted.

> Financial literacy is a gift, and absolutely omitted from standard education, which is unfortunate. With my tinfoil hat on, I feel like that is by design.

Probably, because everything would collapse if everyone was an "investor" and fewer people did actual work to keep the world going.

There are people who don't invest? Do they just keep their retirement savings in cash? I imagine for most people either the government or their employer invests for them.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#119

Post by sureglymop »

linsomniac wrote: post #102

There's an awful lot of negativity here, but as someone who's 55 and has earned a good wage since I was 17, I really wish I had taken investing more seriously from the very beginning. While I knew of compound interest, I really didn't understand it until like a decade ago. If I'd started putting 5% of my money into a target retirement plan from 17, I'd be retired now. As it is I'm not doing badly, but I really wish I…

You say that now but as a young person with a decent income and no family or many responsibilities it's hard to even know where to start.

And I'm not even talking about what to invest in, I'm already confused at which platform/bank/whatever to do it through. The "meta", if you will. I just want to invest the 70% of my salary I don't need every month and not think about it for 40 years but how? Maybe an important detail, I'm from Switzerland, perhaps it's easier in the US with things like Vanguard.

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