Patrick Dwyer Financial Advisor On Preparing Our Kids For The Real World  

Patrick Dwyer Financial Advisor On Preparing Our Kids For The Real World  

Do you think that we prepare our kids enough in education for the real world? If you don’t think so then you are not alone and many people believe that the current education system is failing our children. During my time in Miami last week I caught up with Patrick Dwyer financial advisor and father of 3, an old school friend of mine, and we got to talking about the education system. Patrick and I spoke for hours on the subject and, as parents, it is something that certainly concerns us. Working in the world that he does, Patrick often sees evidence of young men and women who have not been preppy prepared for real life, and here is why he thinks that education needs to change.

Competition

Here in Miami there has been much debate recently about how competition is being gradually removed from our schools, particularly for the younger children. It is understandable why the education system believes that competition can do harm to many students but the harsh truth is that it is completely necessary. We must teach our kids how to compete fairly, how to lose with grace and how to win with class because this is just what the real world is like. When you go for a job you compete, try to get a partner you are competing and when you set up a business you’ll face competition from all angles. In light of the fact that life is so competitive we must teach our kids how to fight and how to win, or at least how to do their best.

Business and Finance

Unless someone decides to study business and finance in college they are unlikely to come out of the education system knowing how to set up and manage their own company. Some with an entrepreneurial mind will try and fail until they get it right, but many who don’t have this mindset will never feel like they have the tools to set up their own business. We liven a world where we need more businesses and in reality it has never been easier to start one. Unfortunately however we are not giving our young men and women the skills that they need to make it a success.

Personal Finance

In school nobody tells you how to file taxes, make a budget, use a savings plan or how to invest in a 401K. These may not affect young students too much but it will be vital knowledge that they are going to need in their lives. In fact many who are in financial hardship are those who weren’t shown how to properly manage their finances and end up getting swallowed up by debts. We must push the education system to include more advice about personal finance and money management, as these are the real skills which someone will need once they enter the real world.

Do you agree with Patrick? What would you change about the education system.

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