Just the other day my daughter was talking about her plans for college. And, in case you don't know, she's 10 1/2 right now. Already talking about college. Can you believe that? I told her that she's very lucky because college is very expensive. And that I've been able to put aside a six-figure college fund for her while most of her student cohorts will be leaving school, laden down with heavy debt that many will spend a decade or longer struggling to pay off.
I did, though, have to remind her that college wasn't a guaranteed means to a job or a career. I personally would love to see her as an investor or entrepreneur. But she has seen over her short decade on this planet how hard I work. And she's told me many times with the fiercest conviction: "I don't want to own a business and I don't want to be an investor." Fine. But that doesn't mean I can't set her up financially well while she does what she wants to do.
She wants to be a teacher. I told her that she'll need at least one college degree to get started and likely she'll have to get a master's degree to progress in her career. She doesn't seem to mind. But she was concerned about stuff that shouldn't concern her at this age: things like college loans, interest, and being in debt before one can even start their new life out into the world. She seemed really concerned about this seeming set-up for failure for the masses.
Welcome to the tip of the iceberg.
The whole system is a set-up for failure. The entire thing. Name any random topic and I can tell you how the cards are stacked against you.
Taxes? Pulleeeezzzzeee. Totally stacked against you. (You should know that already.)
College? Stacked against you in every way imaginable from getting into the right school to being able to pay for it in the first place.
Buying your dream home? Stacked against you. Just check out how an amortization calculator works and you'll realize how bad you're getting screwed on your home loan.
Getting a high-level excellent paying job? Stacked against you. Remember, it's not what you know it's who you know. So...whooosh! What was that sound? Oh, that was your college degree getting sucked out the window. Again, it's not WHAT you know, it's WHO you know.
And then spending your entire life working for somebody else...just to find that you have to start over at a new company in your 40s, 50s, or 60s? COMPLETELY STACKED AGAINST YOU! Even though many companies love being able to get someone seasoned and experienced to do the job, reality is...they'd prefer molding a youngin' to do it just the way they like it, and at a fraction of the salary.
And it's SCARY. Really freaking scary, folks.
I didn't have Mom and Dad to help me with anything. That wasn't an option. So, survival was my motivation. In a lot of ways, it still is. So I keep moving forward. I keep going. And never once did I ever expect one single person to do a damn thing for me nor did I ever depend on a JOB for my survival.
And even though my daughter claims she wants a job as a teacher, I'm training my daughter to be A LOT different than your average Millennial. (She's actually Generation Z which gives me SOME hope here.) I'm teaching her how to go after what she wants no matter what it takes because so few young people want to do that. I figure that the percentage of lazy-ass, self-entitled, hand-out-expectant percentage in the Baby Boomer generation is probably below 5%. I think it may be slightly higher in my generation with the Gen Xers. Maybe it tops out at 15%. Maybe higher. But with the Millennials? I'm think that this lazy self-entitled attitude is somewhere in the 60% to 75% range in the United States.
And these are the kids that will be running our country in only a handful of decades from now. Can you believe THAT? Scary. Now you know why I'm concerned! I should be. So should you!!
The good news is that competition in the future will be NON-EXISTENT. If you're a Millennial, or a Generation Z like my daughter, doing any type of business or investing will be a piece of cake because...well, who will you compete against? The rest of her generation will still be playing video games while living in their elderly, barely-coherent Gen X parent's house in the 'burbs. Probably waiting for their demise so they can sell the house and live off the equity until something else comes along. Like winning the lottery, for instance.
This is why I labor into my students who have kids that are young...even teenagers. Teach them business. Teach them investing. Teach them how to sell. Teach them about marketing. If you don't know any of these things yourself, read a book or go to an event then pass the information onto them however you can.
One of the hings I resent about my meager Midwestern upbringing that I realize is still commonplace in those parts of the country is that some people in those areas who have kids think their ONLY job as a parent is to just get their kids "across the line," I call it. Just keep food on the table, keep them clothed and a roof over their heads. And that's it. Nothing else. Then at 18, tell them to start making plans to get the hell on.
But that is NOT the only job of a parent, especially in today's day and age. It's irresponsible to think that parenting is all about feeding, clothing and housing your kid. And that's IT. If you do think that's all it's about then you'll be paying the price down the road when they're 40 years old still living with you because they've never been taught any useful life skills (other than receiving food, clothing, and shelter FROM YOU) that they can utilize to support themselves.
So, I have a couple of things for you to check out:
1) I have a BRAND NEW investing strategy that will knock your socks off. CLICK HERE for more info about it. This can not only give you the financial freedom you're looking for but it's something you can teach your kids and grand kids so they can ALWAYS be financially self-reliant.
2) Maybe it's time bring your kids or grand kids to an event so they can learn first-hand how to become a multi-millionaire. I have my LA Underground Secret Event coming up on March 8th, 9th, and 10th. If you want to bring your kid (age 18 or under) to teach these money-making strategies to, I'll (a) clean up my language and lose all the swear words, and (b) I'll make you an offer you can't refuse (but you'll have to call my office to enroll them) where it'll only cost them $97 to bring them along. CLICK HERE to check out my upcoming LA event!
You can learn anything you want. Learning and education is REQUIRED if you're going to pull yourself out of your current circumstances to create a new life for yourself. I'm here, dedicated in helping you create the financial life you want for yourself. But it takes two to tango. You have to be willing to do the work which is LEARNING then APPLYING what you've learned.
See you at the top!
Your mentor,
Monica Main
