Adulting: Financial Wisdom
Dear Mosaic Family,
According to a recent comprehensive study funded by Bank of America and USA Today, when millennials were asked to define adulthood in their own words, the most common response was achieving financial independence. For most young people, economic accomplishments outweigh more traditional milestones like getting married, moving out on their own, or graduating from high school or college. It's hard to feel like an adult when mom and dad are paying for everything.
Unfortunately, most millennials have entered the job market during the worst time since the Great Depression, and that was after having paid nearly triple for college tuition and fees of what was paid on average before 1980 (even adjusting for inflation). So getting an education is more expensive, student debt is worse than it's ever been, getting a well-paying job is harder, and buying a home is nearly impossible. To make matters worse, of those who attended college, only 41% said their college education did a good job of teaching them good financial habits and only 31% said their high school education did so. As one financial expert put it, the next generation is starting their economic race 50 years behind the starting line. Great.
Where can we turn to find tried-and-true financial advice? Well, you could attend a Tony Robbins seminar on June 8th in Boston with special guests Tom Brady and Julian Edelman, with the cheapest tickets at $149 and the priciest at $2,495, which includes a meet and greet with Tony, Tom, and Julian. Or instead, you can join us tomorrow as we turn to the ancient wisdom literature of Scripture to see what it has to say regarding developing financial wisdom.
Praying for you,
Pastor Jan
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