When Young Adults Need To Seek Wealth Literacy, Not Financial Literacy

There is a lot of debate today about whether financial literacy is enough to build wealth and how young people are financially illiterate. Millions of people have read one of the best financial literacy books, "Rich Dad, Poor Dad", but lost somewhere between the solid principles of financial literacy and their use in building wealth. Somewhere there is a wealth-making bridge books like "Rich Dad, Poor Dad" could not cross. This bridge is not financial literacy, but wealth literacy. If I were president of a university, I would make sure that my business program offers the following courses: (1) How to influence money (2) The four pillars of money (3) How to invest money (4) Gold and precious metals (5) How to influence time (6) dispelling widespread investment myths; And (7) after completing this basic course in Networking I will provide many more lessons, including: (1) the relationship between politics and investment; And (2) Utilizing technology to augment wealth With adequate knowledge in all these courses, a young person will be ready to build wealth without any trial and error, struggle or complete failure. Instead, traditional educational institutions of any level do not teach such courses and instead have courses that tend toward principles rather than application, such as theory, economics 101, marketing and finance. If you think about it, none of these traditional business or financial literacy courses really teach any student how to build wealth, even at the masters level. That is why young people need to look for a completely different foundation to understand how to build wealth. Various surveys I have found that youth financial literacy has not been adequately assessed due to a greater focus on traditional concepts such as stocks, options, real estate and so on. Adults are aware of any concept needed to build wealth. Being “financially” literate and being “financially” literate are two completely different concepts. My belief is that money can make you financially literate even if you are not literate. This is the difference between financial literacy curriculum and wealth literacy curriculum. Financial literacy courses focus on basic concepts of budget, investment, financing for retirement accounts and more - concepts that young people rarely consider but still help them build wealth. Financial literacy courses teach young people what to do to build wealth, but do not provide them with the tools they need to build wealth successfully. Furthermore, they never tell you about the steps you can take to build wealth other than common sense, such as investing, learning how to increase your 401 (k) contributions, and so on. For example, if someone is a basketball player, a comparable level of financial literacy tells Forward Power that he needs good post-up moves close to the basket, a sweet outer part for opponents to respect him. Short range, dribble and a quick first step in building a solid defensive game so that opponents can not use him as a dimensional player. But after saying the power ahead, there can be no more explanation than “luck” and patting on the back. The money literacy course actually teaches the athlete what it takes to succeed in every field of his sport, which makes him a major athlete. Telling young people what to do has little effect on improving their quality of life. Successful transition to life or to adults who are financially independent of the youth. It is important to provide a toolkit to do this. For this, look for courses that teach wealth literacy rather than financial literacy to young people.