Children everywhere are heading back to school this time of year, so it seems a good time to remind even those who left school long ago that learning should be a lifelong pursuit – especially when it comes to learning about maintaining your financial health. The economic and financial climate is an ever-evolving landscape and it is more important than ever to commit to continuous education to improve financial literacy. A recent blog post
by Branch Banking and Trust Company (BB&T) discusses the importance of financial literacy and references many trends in the marketplace that Equity Trust has been discussing for years.
Trends that speak to the need for financial literacy include:
It’s up to you. The burden for financial decision making and education is increasingly moving towards a personal responsibility, especially as many company-sponsored retirement plans are requiring participation on the part of their employees.
Social Security isn’t what it used to be. Social Security benefits are becoming less of a financial source for retirement as they once were, leaving responsibility with the individual to have another source of income secured.
Longer life=more income needed. Life expectancy continues to rise, which is a wonderful thing. But living longer also means spending longer and if you do not have a sound plan in place and income available for all of your retirement years, then you could find yourself in a difficult situation during this time in your life.
The most successful investors understand that there is no end to learning. Financial literacy is imperative in order to stay on top of the ever-evolving trends and developments in the economy and financial industry. Now is the time to work at your craft and make a commitment to becoming the most knowledgeable and informed investor possible.
Equity University offers several educational products and resources that can contribute to your financial education. The Equity University bookstore can be found here
and the resource section can be found at https://www.trustetc.com/resources