{"id":144,"date":"2011-03-08T10:13:41","date_gmt":"2011-03-08T17:13:41","guid":{"rendered":"https:\/\/a0109a0e50.nxcli.io\/\/gen-x-gen-y-dialing-financial-911\/"},"modified":"2021-06-28T13:14:38","modified_gmt":"2021-06-28T19:14:38","slug":"gen-x-gen-y-marcando-el-911-financiero","status":"publish","type":"post","link":"https:\/\/www.savvyladies.org\/es\/education\/gen-x-gen-y-dialing-financial-911\/","title":{"rendered":"Generaci\u00f3n X y Generaci\u00f3n Y: Llamando al 911 financiero"},"content":{"rendered":"<p style=\"white-space: pre-wrap;\">by <strong>Manisha Thakor<\/strong><\/p>\n<p style=\"white-space: pre-wrap;\"><strong><em>Six Reasons Why Gen X &amp; Gen Y Need Some Serious Financial TLC <\/em><\/strong>&nbsp;<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>They\u2019re scared: <\/em><\/strong>They\u2019ve entered their adult years during a gut-wrenching economic and job market. With unemployment over 9.5%, they\u2019ve seen their parents struggle. Over <a href=\"http:\/\/www.prnewswire.com\/news-releases\/majority-of-americans-live-paycheck-to-paycheck-103297369.html\" target=\"_blank\" rel=\"noopener\">7 out of 10 Americans are now living paycheck-to-paycheck<\/a>.<\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>They are making poor decisions: <\/em><\/strong>As a result of that fear they are not making the best long-term decisions for their futures. A recent ICI study shows only 34% of investors under age 35 are willing to take substantial risk with their retirement money \u2013 the exact time in their lives when they should take that risk.<\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>Something as \u201csimple\u201d as a 20-year head start can give you 5x more money: <\/em><\/strong>Let\u2019s take 2 people. Jane starts saving $5,000 a year at age 25 for her retirement every year until age 65 and gets an average return of 7%. Jane has a $1 million nest egg by retirement. Joe starts saving $5,000 a year at age 45 for retirement every year until age 65 and also gets an average return of 7%. Joe has $200,000 in his next egg. That 20-year head start gave Jane <strong>5x more money. <\/strong>That\u2019s why learning the basics of personal finance \u2013 how to budget, get out of debt, and save so you can get that retirement fund funded in the key early years is so vital.<\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>Young adults consume information differently so there\u2019s a delivery challenge when it comes to education: <\/em><\/strong>Studies shows that young adults want their financial education delivered in a 21st Century way. They want it web-based with robust, interactive tools. And unlike their \u201cI\u2019ll do it myself\u201d parents, these emerging adults want help and guidance.<\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>Nearly half of Gen Y has below average financial fluency:<\/em><\/strong><em> <\/em><a href=\"http:\/\/www.marketwatch.com\/story\/big-financial-learning-curve-for-gen-y-2009-08-05\" target=\"_blank\" rel=\"noopener\">A study by The National Foundation for Credit Counseling<\/a> showed that nearly half of this generation did not understand how to save and budget and that 45% of them have no savings!<\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\"><strong><em>The financial world is geometrically more complex: <\/em><\/strong>Part of the reason for the above statistic is due to the fact that financial literacy is not taught in schools as a core life skill. Young adults often rely on parents who were brought up in \u201cfinancially simpler\u201d times and aren\u2019t equipped to help. They are also bombarded by so many more unrealistic media images about what \u201cnormal\u201d lives are like.<\/p>\n<\/li>\n<\/ul>\n<p style=\"white-space: pre-wrap;\"><strong><em>So, what\u2019s the solution? <\/em><\/strong><\/p>\n<p style=\"white-space: pre-wrap;\">If you or someone you love is a Gen X or Gen Y-er\u2026 encourage them to self-educate.&nbsp; Here are some of my favorite personal finance sites \u2013 all of which I\u2019ve either written for or read regularly myself:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p style=\"white-space: pre-wrap;\">For everyone: <a href=\"http:\/\/www.smartaboutmoney.org\/\" target=\"_blank\" rel=\"noopener\">SmartAboutMoney.org<\/a><\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\">For women: <a href=\"http:\/\/www.learnvest.com\/\" target=\"_blank\" rel=\"noopener\">LearnVest.com<\/a> and <a href=\"http:\/\/www.dailyworth.com\/\" target=\"_blank\" rel=\"noopener\">DailyWorth.com<\/a><\/p>\n<\/li>\n<li>\n<p style=\"white-space: pre-wrap;\">For men: <a href=\"http:\/\/www.iwillteachyoutoberich.com\" target=\"_blank\" rel=\"noopener\">IWillTeachYouToBeRich.com<\/a><\/p>\n<\/li>\n<\/ul>\n<p style=\"white-space: pre-wrap;\">What about you \u2013 any additional resources to recommend to Gen X &amp; Gen Y?<\/p>\n<p style=\"white-space: pre-wrap;\"><em>[For more MoneyZen in your life, follow Manisha on Twitter at <\/em><a href=\"https:\/\/twitter.com\/ManishaThakor?lang=en\" target=\"_blank\" rel=\"noopener\"><em>@ManishaThakor<\/em><\/a><em>, on Facebook at <\/em><a href=\"https:\/\/www.facebook.com\/MThakor\" target=\"_blank\" rel=\"noopener\"><em>\/ManishaThakor<\/em><\/a><em>, or visit <\/em><a href=\"https:\/\/moneyzen.com\/\" target=\"_blank\" rel=\"noopener\"><em>MoneyZen.com<\/em><\/a><em>.]<\/em>  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Manisha Thakor Six Reasons Why Gen X &amp; Gen Y Need Some Serious Financial TLC &nbsp; They\u2019re scared: They\u2019ve entered their adult years during a gut-wrenching economic and job [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"give_campaign_id":0,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":"","_tec_slr_enabled":"","_tec_slr_layout":""},"categories":[1,30],"tags":[],"class_list":["post-144","post","type-post","status-publish","format-standard","hentry","category-blog","category-budgeting"],"acf":[],"ticketed":false,"_links":{"self":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts\/144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/comments?post=144"}],"version-history":[{"count":0,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/posts\/144\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/media?parent=144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/categories?post=144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.savvyladies.org\/es\/wp-json\/wp\/v2\/tags?post=144"}],"curies":[{"name":"gracias","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}