Building Financial Literacy for the Next Generation

We’re excited to share that our senior Financial Adviser, Dawn Thomas, has been featured in an article in the Sydney Morning Herald discussing the importance of financial literacy in secondary schools.

The article explores Dawn’s mission to empower young Australians with the knowledge they need to make informed financial decisions, with a particular focus on superannuation.

If it were up to her, Thomas would prioritise teaching students about superannuation, starting with the basics. For instance, if you don’t select a superannuation fund at your first job, your employer will choose their default fund for you. 

“That fund will then follow you unless you choose otherwise,” Thomas explains. “This could mean that your employer is choosing one of the most significant vehicles of your wealth.” This highlights the importance of understanding and making informed decisions about superannuation from a young age.

Dawn’s perspective continued, “Young people in the default [superannuation] option is a missed opportunity because they have a long investment timeframe, which can ride out the volatility of more growth-orientated profiles. This could make a difference of over $100,000, conservatively, over their lifetime.”

At TWD, we’re passionate about helping individuals and families make the most of their money to achieve lives filled with meaning. Whether you’re just starting your financial journey or looking to refine your strategy, our team is here to help.

You can read the full article here: https://www.smh.com.au/money/planning-and-budgeting/the-simple-money-lessons-financial-advisers-wish-were-taught-in-school-20241105-p5ko2s.html

Get in touch with the Wealth Designers today to learn how we can help you live well now and in the future.