FINANCIAL EDUCATION

• You can not solve money problems with money, with only financial education
• We are losing our middle class, and a shrinking middle class is a threat to the stability of Nigeria and to the world democracy itself.
• The shrinking middle class is a global problem, but predominantly in the richer G8 Nations(e.g. England, France, Germany, Japan etc.)
• U.S having gone from the richest country in the world to the biggest debtor Nation in history, so quickly
• A weak U.S economy and a weak U.S dollar(the reserve currency of the world) are not good for world stability
• Their are three level of advice: advice for the poor; advice for the middle class and advice for the rich
• The financial advice for the poor is that the government will take care of them.
• The poor are counting on social security and medicare
• The financial advice for the middle class is: get a job, workhard, live below your means, save money, invest for the long term in mutual funds and diversify
• Most people in the middle class are passive investors, investors who work and invest not to win.
• During the hunter gatherer age of human development, humans lived in tribes and, for the most part, all people were equal
• In the agarian age, the modern middle class was born in American and so was democracy
• Today in the information age, the middle class is slowly dying and so is democratic capitalism
• Governments, even the U.S government can not protect their people as they once could simply because the problems are now global problems
• For example, the price of oil is determined by countries outside the control of the U.S
• Terrorism is not against Nations. Terrorism is a war against ideas
• One of the definition of leadership is vision
• In the world of money, there is another word often used, "Transparency". Three definitions applicable:

1. Free from pretence or deceit
2. Sheer enough to be seen through
3. Readily understood