I try to promote financial literacy and have helped many friends and some family members when they ask questions. Ideally we would actually drive financial literacy through school and into the university. Even those who have a degree in finance or accounting often lack practical advice on personal finance and don’t know how to approach these issues.
A colleague of mine asked me about stock market returns some year ago. I told him that it averages 8% in the long run. So, if you invest a $100,000, then in ten years--
"You'll have made $80,000," he said.
Sigh. Is compound interest that difficult?