Carrie Schwab-Pomerantz

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40 appearances 1 recordings 1 series first heard Aug 2018 last heard Aug 2018

Carrie Schwab-Pomerantz’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Survey: Parents Discuss Money More Than Sex and Drugs · 27 Aug 2018 podcast

So I think they've learned that independence is really important.

They also, you know, and I've been studying this, by the way, for many, many years, and it's music to my ears when I see that these young people putting high priority on learning how to save and how to budget and also saving and investing for retirement.

That's a biggie, you know, because we do want our youth, we want young people right out of college, even in high school if they have jobs, starting to save for retirements.

Well, a lot of young people, they think, OK, 6% of my income.

But of course, because they're not taxed on that, it's actually less than 6%.

And also, many corporations today, not everyone, but provide a 401k match.

So we always tell people to at least save up to the company match.

I know most companies, they match about 50%.

And so if you don't save that much, then you're walking away from 50% returns.

Yes.

So another part, or what I consider the good news of this survey, is that young adults said that their parents, or more of them said that their parents talk about money more than they talk about sex and drugs.

And again, I've been following attitudes and behaviors among all different folks, and this is a complete flip-flop.

So, you know, in today's environment, parents are talking more to their children or, you know, their young adult children.

There's more transparency.

I'm sure it's, you know, the whole technology world's flat, Facebook and so forth.

So,

So to me, that's a good news.

But what we want to make sure is that parents are imparting the correct principles of money management, right, so they really truly do get the right information.

Absolutely.

Thank you, JR.

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