The Lemonade Stand: Intro

An introduction for an upcoming series designed for youth financial education

My goal is to empower young people to realize that they have the power to shape their own lives. Whether one aspires to be an influencer, an engineer, a doctor, a business owner, or a plumber, every path is correct, given an informed person who is sure of what she wants. The critical point is to make choices that lead to a fulfilling life, enough earnings to support your desired lifestyle, and the opportunity to improve the world. Work should be an extension of oneself, much like the joy in hobbies like fishing or sports. Similarly, reading and learning should be enjoyable activities.

As Naval Ravikant has stated: "A fit body, a calm mind, a house full of love." that should be the ongoing result of good decisions made by informed people. That is not to say that life is easy; on the contrary, it is a constant challenge, but it can be rather beautiful if we learn how to navigate it, ideally from an early age.

I aim to demystify the workplace and aspects like earning money, running a business, and investing. Young people and their parents should clearly understand life choices for today's youth. Technology and innovation allow countless opportunities to work in a meaningful environment where people can be fulfilled and make an honest living.

Too often, young people finish school without a clear direction for their future, while their parents, who are also uninformed, push them to secure a job in their field of study. While this may work for some, this advice constantly avoids addressing more profound, meaningful questions about life satisfaction and quality. The decisions often result in kids making the wrong decision due to a lack of information.

I want to explore the various roles of business owners, employees, and investors, highlighting the advantages and disadvantages of each. Our society tends to follow a one-size-fits-all approach. When I was young, it pushed people to find a safe, secure job. In today's world of social media, people trash employment and give glory to entrepreneurship, but is there a correct path that is unequivocally better? Everyone is different; hence, people should make decisions based on what they are better suited for. The world undoubtedly needs entrepreneurs at the helm of innovative companies that produce valuable products and services to solve people's problems. These entrepreneurs should be passionate and bring people together for a higher purpose. They will be rewarded heavily but have more of a burden to carry and often fail while pursuing their goals.

On the other hand, that same entrepreneur needs a team of specialized and skilled employees to do the jobs necessary to produce and move the company forward. While not getting outsized rewards, these employees will only have to focus on their single responsibility instead of many like entrepreneurs. I advocate for a world where entrepreneurs pursue their visions fearlessly, employees find joy and purpose in their work, and everyone understands the value of investing in assets for an enjoyable financial future while still young enough to enjoy the fruits of their labor.

A critical gap for young people is the need for financial information. They need to understand what it entails to start a business, including the financial risks and autonomy it brings. They should know that employment offers stability but limits their earning potential and involves job insecurity. Aspiring investors need to understand that a lot of money is usually required for investments to affect one's financial situation meaningfully; more than a $10,000 investment in an index fund is required to secure your financial future.

I also emphasize the importance of acquiring skills and their impact on real-world success.

Many young people today say they want to be "investors." Yet, they need to be made aware of what it even means to invest, often thinking it means pressing a button on their Schwab account to buy a four-letter word. In reality, you need valuable skills to get paid enough to purchase assets that will make you money while you sleep.

Clarifying financial concepts like investing and how assets can generate passive income, leading to financial freedom, needs to be a part of what young people are introduced to supplementary to school.

Finally, the youth must understand how taxes work. Employees, business owners, and investors are all taxed differently, revealing that those who own the most often pay the least in taxes.

The youth must understand the modern economic and social landscape, and the core message should be the empowerment of choice. By understanding how the world operates financially and socially, young people can make informed decisions that pave the way to a fulfilling and happy future.