It started with this article and mainly this phrase:
"Today’s 25-year-old need to save the equivalent of £800 a month over the next 40 years to retire at 65 with an income of £30,000 a year, according to Rebecca Taylor, director at the Chartered Institute for Securities and Investments."
And then the hell break loose, as you can see it on this link.
What i can say? I do not know if first i will be sad or i will wonder if the total lack of financial education is an intentional purpose. Something like this should be learned in school, in the same time with native language an maths. This is my opinion!
Showing posts with label millennials. Show all posts
Showing posts with label millennials. Show all posts
Thursday, 18 February 2016
Friday, 8 January 2016
Random news
News no.1
Talking about statistics. According to a study consisting of 5,500 millennials, only 24% of them knew "basic information around financial literacy." For example, according to the study, only 8% know about risk diversification. As a quick reminder, where humans fall on the care-o-meter surrounding financial literacy, is pretty much, don't care. Click here for the whole thing.
(P.S. Millennial - one born between 1980-2000)
News no.2
China devalued its currency again. The Chinese Central Bank has been devaluing the country's currency (the yuan) to help boost its economy. If you can buy more of "X" in China with say, your USD, because the USD is strong relative to the yuan, you'll buy more from China. Despite the devaluation in an attempt to boost the economy, China's main stock market index, The Shanghai Composite Index, fell -5% at the open of the trading day on Thursday. This triggered a circuit breaker to halt all trading. It's essentially a timeout for stock market trading in an attempt to minimize the selling. The stock market re-opened on Thursday 15 minutes later and immediately fell to -7% for the day. This triggered an automatic shut down of stock trading on that index for the day.
Now relax, forget about China, click here and feel the music.
Talking about statistics. According to a study consisting of 5,500 millennials, only 24% of them knew "basic information around financial literacy." For example, according to the study, only 8% know about risk diversification. As a quick reminder, where humans fall on the care-o-meter surrounding financial literacy, is pretty much, don't care. Click here for the whole thing.
(P.S. Millennial - one born between 1980-2000)
News no.2
China devalued its currency again. The Chinese Central Bank has been devaluing the country's currency (the yuan) to help boost its economy. If you can buy more of "X" in China with say, your USD, because the USD is strong relative to the yuan, you'll buy more from China. Despite the devaluation in an attempt to boost the economy, China's main stock market index, The Shanghai Composite Index, fell -5% at the open of the trading day on Thursday. This triggered a circuit breaker to halt all trading. It's essentially a timeout for stock market trading in an attempt to minimize the selling. The stock market re-opened on Thursday 15 minutes later and immediately fell to -7% for the day. This triggered an automatic shut down of stock trading on that index for the day.
Now relax, forget about China, click here and feel the music.
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