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  • nitish

    October 5, 2021 at 11:20 PM

    Many people strongly believe that the wisdom of money is a need of an hour in the 21st century, therefore educational institutes,
    universities, and schools should have a predominant focus on the financial knowledge of students, undergraduates, and graduates.
    In my opinion, I strongly agree with this statement due to the long-term investment benefits and financial freedom.

    Firstly, guiding the young generation in the field of money and investment an early age can provide the long-term benefits in securing
    future. This is because students will get cognizance of many monetary concepts like power of compounding, difference between assests and
    liablility, and invest in stocks and mutual funds which they can apply wisely in their initial age to get long term advantages in multiplying
    money. For an instance, research in the USA showed that those children who started putting their 10% of the savings in mutual funds in tenure of
    30 years, end up accumulating 50 percent more money than those who didn’t invest. Hence, the subject on the financial investments
    has significant importance in their academic studies.

    Secondly, the financial acumen in an early phase of life can aid the benefits after retirement. Likewise, the school and university professors
    can guide pupils about the various kind of insurances such as health insurance, term insurance, and medical insurance which are useful
    in the older age. Furthermore, money corpus collected in an initial period of life, can be used as an emergency fund after the retirement age.
    For instance, in the recent studies in India showed that 60% of retired private professionals struggle to fulfuil their basic needs after
    completing their work tenure. However, the students should be made aware about the risky investments in order to avoid the wrong descions.

    To conclude, academic institutes play an imperative role in imparting the financial knowledge to the students in an early age,therefore teachings from an expert
    in an early age is always better than bad experiences in life.

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