UNCOMMON CENTS 77

I LEARN SOMETHING NEW EVERY DAY, BUT TODAY'S TIDBIT DOES NOT UPLIFT MY SPIRIT. FOR OVER 50 YEARS, APPARENTLY, THE FEDERAL RESERVE HAS BEEN GIVING AWAY COMIC BOOKS. ABOUT A DOZEN TITLES. ABOUT 1 MILLION TO HIGH SCHOOL STUDENTS LAST YEAR. BUT THESE COMIC BOOKS ARE NOT ABOUT SUPER HEROES; THEY INFORM ABOUT MONEY. ONE, ABOUT HOW TO SAVE IT. OTHERS ABOUT MONEY'S RELATIONSHIP TO INFLATION, CHECKING AND BANKING. A SEVEN YEAR OLD COULD FIND THE COLORS AND ARTWORK OF THESE COMIC CREATIONS ENTERTAINING, BUT WHAT ABOUT THEIR EFFECTIVENESS WITHIN THE TARGET AUDIENCE, TEENAGERS?

ARE YOUNG PEOPLE SAVING? ARE YOUTH SAVVY TO THE CONCEPT OF BALANCING INCOME AND EXPENDITURES? IS THE MESSAGE OF PROPER, PRIOR PLANNING FOR RETIREMENT GETTING THROUGH? APPARENTLY NOT. THE MESSAGES OF THESE COMICS ARE IGNORED AND FORGOTTEN AS YOUNG WORKERS EMERGE INTO THE MARKETPLACE. YOUNG WORKERS UNLEASHED BY FREE CHOICES, IGNORE AND FORGET TO WITHHOLD EVEN $50.00 OR A $100.00 IN SAVINGS FROM THEIR REGULAR PAYCHECKS. INSTEAD THEY ARE BENT UPON ACQUISITIONS AND INSTANT GRATIFICATIONS. WHEN CHANGING JOBS, ABOUT ONE THIRD OF THEM CASH OUT THEIR 401 PLANS, WHICH MEANS THEY HAVE WIPED OUT THEIR SAVINGS, OTHER THAN THEIR SOCIAL SECURITY CONTRIBUTIONS. (MORE ON THIS TREND TOMORROW).

WHY DO YOUTH GLAZE OVER AT THE MENTION OF MONEY AND SAVING? WHY DO THEY PREFER COMPUTER GAMES, POP MUSIC AND CHAT ROOMS ON THE INTERNET? IN SPITE OF A 580 MILLION DOLLAR INDUSTRY IN SELF HELP BOOKS, WHY ARE READERS NOT HELPING THEMSELVES TO WEALTH? I DIDN’T LEARN THE SAD ANSWER TO THIS QUESTION TODAY. I’VE KNOWN IT A LONG WHILE. YOUTH HAVE BEEN ROBBED OF PROPER, PRIOR PARENTING. AN UPBRINGING IN A KID-CENTRIC UNIVERSE HAS ROBBED YOUTH OF ADULT ROLE MODELS, SUPERVISION AND GUIDANCE.

HINT: PROPER, PRIOR PARENTING. P/P/P SETS THE EXAMPLE OF THRIFT, ACCOUNTABILITY AND SMART BEHAVIOR WITH MONEY.