Why Parents—Not Schools—Must Develop Their Child's Financial Genius
I've just finished writing what I think is the most important book of my life. The book is called Why "A" Students Work for "C" Students, and it's about the vital need for financial education for our kids.
Our kids have big dreams
Here's some statistics to consider:
44% of young people want to be entrepreneurs
46% aim to set up their business within the next two years
43% of students grades 5 through 12 want to be entrepreneurs
Unemployment for those 16 to 24 is 17.6%
53% of recent college grads are jobless or underemployed
In other words, young Americans want to be entrepreneurs. They want to start companies that provide a high quality of life while also providing innovation and employment. The only problem is that our school system specializes in training our kids to be employees.
This is why schoolteachers and many parents continue to say, "Go to school to get a good, high-paying job." Few parents or teachers are saying, "Go to school to learn to create good, high-paying jobs."
So, there are two problems. Our kids want to create jobs, which is a vital need for our country, and instead of teaching our kids how to create jobs, our schools teach them how to get jobs, of which there are very few to get.
These dreams will die
There is a tremendous difference between the skill sets of an entrepreneur and of an employee. Unfortunately, because the skill sets required to be an entrepreneur are not taught in our schools, many of our kids will never realize their dream to start their own business.
Many people dream of becoming entrepreneurs, but few will take the leap of faith. Why? The lack of financial education in our schools. Without financial education, most employees are terrified of losing their job, not having a steady paycheck, or simply failing—and most kids have no idea where to start except by getting a good job, and then they're trapped.
Without financial education, our kid's dreams will die.
Every kid has a genius
Every child has a genius. Unfortunately, their genius may not be recognized by the educational system. It may even be crushed.
Thomas Edison, one of the great geniuses of modern times, was labeled "addled"—mixed up or confused—by his first teacher. He never finished school and instead went on to found General Electric.
Albert Einstein also failed to impress his teachers. They called him lazy, sloppy, and insubordinate. He proved them wrong.
The point is that the environment of our school system is not always a good one for the type of genius many kids have. In fact, it can be constricting.
All parents have met the genius in their child. Most parent's know that a child's true genius comes through most clearly in the things that child dreams about—the ideas and things that delight, fascinate, and challenge them.
A call to parents
Traditionally, we've left it to the school system to develop and nurture our children's genius. Today, that won't work.
Because our kid's dream of being entrepreneurs, they'll face a system in school that is bent on breaking that dream and replacing it with the old American dream of getting a good job.
Because of this, it's up to parents to nurture and cultivate their children's dreams. It's up to parents to provided a solid financial education.
That's what my new book, Why "A" Students Work for "C" Students, is all about. It is a guide to help you develop your child's financial genius.
Our kid's have big dreams. Our schools will not be able to help them realize those dreams. I don't want to see those dreams die—and neither do you. That's why I say my new book is the most important book I've ever written.
Over the next few weeks, I'll be highlighting some of the ideas from the book here on blog. I hope you find them thought-provoking, but most of all, I hope they excite you to take the reigns of your child's financial education.