I spend time visiting and reading other finance-related websites and blogs to see what is up in the world of personal finance. While The Insurance Word blog mainly offers information on how insurance, life, health, disability and long-term care, helps you form a smart and solid financial foundation, we do know that there is a lot more that goes into building a healthy financial life.
Most of the time I see good advice being offered on these sites and blogs, although from time to time I do run across bits of “wisdom” that make me raise an eyebrow. But on the whole, I think they serve an important service: They get people to think about their finances and financial lives in a way they might not have done before.
LearnVest is new to the scene, launched just last November (and is still in beta), but it has made an impression on me. It was started by Alexa von Tobel, who took a leave of absence from Harvard Business School, to address this specific problem:
“There is no formal education for personal finance. Barring the extremely rare exception, personal finance is not taught in high schools, colleges, or even by most parents. How do we typically learn about our finances? Unfortunately, through our own financial mistakes and blunders, which have the potential to set us back before we even had a chance to get started.”
And while most of the information on the site is targeted at women half my age, I do subscribe to their daily email: LearnVest Daily, which I have found engaging and on point, addressing concerns large and small that young people have as they navigate their financial lives. I’ve even benefited occasionally from money-saving (or generating) tips.
I know many of our blog readers are like me, regular people trying to get and keep a handle on what can be an overwhelming topic at times, their personal finances. But I also know we have financial advisors and insurance agents who read this blog.
So, I’d like to do a soft-turn and appeal to you, the professionals out there, to help out with this important task of educating young people about their finances. While websites and blogs are an important avenue to learning, nothing can replace the personal touch, a “teacher” leading the way. And if you are an advisor or agent, you need to start seeing yourself as a personal finance teacher to the upcoming generations.
You can do something about this. LIFE’s NextGen3 is multimedia insurance education program to help educate high-school students about the basics of life, health and disability insurance, as well as financial planning fundamentals. The program has already reached 23 million high schoolers, and this new edition is aimed at raising that number much higher, but we need your help. You can be the conduit to bringing this free program into your local schools, and to your next generation of clients. For more information, you can contact Julie Lattanzi at the LIFE Foudation at firstname.lastname@example.org.