Financial literacy came to a peak for me at a personal vulnerable moment when I was hit by a health event some 3 years ago. It made me think of not my mortality but a parental concern overwhelmed me – the financial well being of my son. After much pondering & soul searching, my concern for my then high schooler’s cursory understanding of the role of finance in everyday life only grew. His knowledge was extremely limited.
At a time when technology is nearing its zenith for the decade & its biggest users, the millennials seemingly understand only the periphery of what is taking place in the technology innovation sphere. Similarly, the same holds true for their financial comprehension and the real world decision making required to successfully navigate life’s traversal intersections in parallel with decisions/choices related to either finance or insurance purchases and investments.
In fact, the very creation of this site/blog has been testament to my deep seeded concern – the very name of the website is rather paradoxical.
This is the same generation which saw many of its parents wrestle with their finances during the Wall Street collapse of 2007-2008. Living in the west where capitalism is so intertwined with an earnings economy with a short line of sight – every quarter; I often wonder if any of the 2007-2008 haunting experiences for the millennial were short-lived.