Who is supposed to teach me that?

It is interesting that there is not much formal financial education taught in our school systems.  In college and graduate school, financial education is available regarding the economy and businesses, but little is taught, even then, about personal finances and managing the personal financial planning process.  Since we don’t get financial education in schools, where does it come from?

I have found in my business practice and 35 years of experience learning about and working with both individual and institutional clients, that personal financial knowledge comes from both parents and is also self-taught.  Since most parents learned the same way, there is quite a divergence in the quality and quantity of this teaching and learning.  Most people carry the attitudes and many of the practices of personal financial planning that they picked up from their parents, even to the extent that they generally favor the same kinds of investments made by their parents, if any.  In my unscientific survey I find that people who’s parents only invested in bonds, tend to favor bonds and people who’s parents would only invest in stocks, tend to favor stocks and people who favor real estate had parents more inclined to invest in real estate.

There are many misperceptions about investing that come through this informal education process, too.  I am reminded about a cousin who thought she still had money to spend because she always substituted the bank’s most recent statement balance for her’s in the checkbook, “because they were obviously better at making that calculation than she was”.  Even balancing a checkbook can be forgotten in the financial training process.

We recognize that learning should be a life long process at Hartline.  It should also be tailored to the individual needs of each client.  We want to be our client’s source for learning, reaching, expanding and accumulating import knowledge that will enhance and build their financial knowledge as the first step to success on their financial journey.  We have built our own library for learning and as a reference for client education.  Here is where the self-motivation comes in.  We are particularly interested in working with clients that want to build knowledge and understanding about investment strategies and products.  It is far more likely that will be able to help clients achieve success if they don’t stiff arm the education they need by declaring every “new” concept as being “too risky”.  That, in my opinion, is short hand for, “I don’t want to take the time to understand that and am unwilling to build my vocabulary to the point that I will feel comfortable even discussing it”.

Hartline is a place with people who are life long learners themselves and we are interested in helping you build a successful financial program for you and your family.  It begins with asking questions, or even asking what the questions should be.  Since it is a leaning experience, like walking, there will be some moments when one falls and needs encouragement.  We will do our best to understand your level of understanding and help you build it, if you are willing and motivated.