When it comes to financial security, having money is just half the battle.
Carrie Schwab-Pomerantz is a leading advocate for financial literacy and a certified financial planner. Plus it doesn’t hurt that her father is financial icon Charles Schwab. She says a majority of the country does not know how to properly handle money.
“My concern is that as a country we’re not talking about the lack of financial literacy. Financial literacy is necessary to have financial security.”
Carrie says teenagers and 20-something’s aren’t being taught how to manage debt and the responsibility of credit cards. On the opposite end of the spectrum people in their fifties aren’t fully prepared for retirement.
“I look at it like brushing our teeth, it’s not something we really think about we just do, we save for the future.”
Carrie says she doesn’t think that the government will ever make financial education mandatory. But it can hold each of us accountable for our own security, especially because many people rely on the government for financial support. And that can cost everybody.