click here: Leave a text, tell us what you liked

The City of Biloxi is a great place to live/visit. One of the best things about Biloxi is that it is affordable not just for living there but to visit as well. With beautiful beaches and a small city feel, it’s the ideal place if you want to leave the rat race of big metros. Yes, Biloxi is a nice place to live, to answer a question often asked on Google.
If you have not already formed an opinion about Biloxi from this article, I apologize for leaving something out. It would help me and others if you would comment below about this article. Please read a companion article about “Why you need to retire on the Mississippi Gulf Coast”. See the live camera feed from the Biloxi Light House click here

Please leave comments below and sign up to receive notice of future articles. Listen to our podcasts by clicking on the podcast in the menu above. There are many more articles on the Mississippi Gulf Coast you can read on this site. 

RESOURCES

Example of a house for sale: Click here

Recent Biloxi housing market update: Click here

22 things to do on the Mississippi Gulf Coast: Click here

City of Biloxi website: Click here

RetireCoast.com presents this podcast.  Please visit our website for more blog articles.

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

So many great choices along the Gulf Coast, where do you start? Here! Let us help you make the right choice by narrowing down the area. Start with the Mississippi Gulf Coast, the best coast. We warn you, our area is a well-kept secret. The communities below are the best places now to live on the entire Gulf Coast.

We have ruled out all of the "other" Gulf Coastal areas for you. They are too crowded, too expensive and they don't have Cajun, Creole, and Southern charm. The only place to get all of these things on or near a beach is the Mississippi Gulf Coast. Did I mention the 12 casinos?

You should come to the conclusion at the end of this article that the Mississippi Gulf Coast is not located on the East Coast or the West Coast, it's located on the Best Coast.

Check out this link if you want more information about the Mississippi Gulf Coast. "Why I decided to move to Ocean Springs, Mississippi" and "Why you need to retire on the Mississippi Gulf Coast".

Retire by the beach on Social Security in 2022 is a good article if you are thinking of retiring on Social Security. If you are a military retiree you will want to read this article: The Best Coast for Military Retirees and Veterans

If you are tempted to rent vs buy, read this article, it may change your mind. Click here.

Please leave comments, and tell us if you enjoyed this article. We would love it if you subscribe below. Subscribers receive updates of new articles. It's free.

Should you wish to look at a property along the Mississippi Gulf Coast, click her

RetireCoast.com

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Live along the coast with other military retirees who benefit from local military bases. You can afford to live on the Mississippi Gulf Coast with our military retirement pay. Active duty military is located on several bases. This is the best coast for military retirees and veterans.

The Mississippi Gulf Coast is a great place with a low cost of living. Many active military members live in the community along with those who have seen years of service. A primary reason why the high quality of life attracts retired military is due to the proximity to the VA facilities and on-base outpatient clinics.

Do not forget that none of your social security benefits or military benefits are taxed by the State of Mississippi. There is a military tax exemption for real estate taxes. State taxes for any second career income are among the lowest in the nation. Your retirement benefits will go further along the Gulf Coast. Military veterans have been retiring in this area for decades. Did I mention the VA medical center?

Love to Golf, this is the place

Retirees can shop alongside military members who take advantage of the base facilities at Keesler AFB and the Navy Sea Bee Bases. The U.S. Coast Guard is stationed here along with reserve units and the National Guard. You will be around people who understand you. If you golf, you have come to the right place, we have lots of golf courses around the area. 

The affordable cost of living attracts many to our area. VA home loans are available and lenders in this area know how to manage them. With the large military community comes military families. I often meet people who were either in the military or their parents were stationed here when they were young.

These former military dependents came here to live and retire after having seen areas in New York, San Diego, Virginia Beach, and South Carolina. Some of the best cities in the country are located along the Mississippi Gulf Coast. Did I mention that state income taxes are not charged on any retirement income including your 401k and any civilian retirement income for those over 59.5 years old? Articles are often written about Mississippi being one of the best states to buy a house. 

The Mississippi Gulf Coast is just a good place to live. Without a doubt, this is the best coast for military retirees and veterans. The United States Census Bureau just indicated that the population in Mississippi and specifically in two coastal counties has increased over the last few years. 

The list above should convince you that the Mississippi Gulf Coast is the best coast for military retirees and veterans. Of course, a visit to the area would help confirm what you just read. I strongly suggest that you visit the area if you have not been here before. If you have been here but it's been years, come back.

Take a drive North to look at our more rural areas with large acreage and big houses. This will give you a feel for the area. Contact Logan&Anderson, Gulf Coastal Realtors to see a home or five or ten. Bill and Sean can direct you to a loan broker to get an idea of what you can afford. Possibly build your own home on the beach or bayou. Don't forget to visit ActiveDutyRealty.com for more resources.

Please leave comments about this article. Read other articles on this site as well. Our most popular article is "Why I decided to retire in Ocean Springs, Mississippi". Another article on the same topic is " https://retirecoast.com/why-you-need-to-retire-on-the-mississippi-gulf-coast/. Remember, the Mississippi Gulf Coast is the best coast for military retirees and veterans.

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

A simple will can solve unimaginable problems with your estate. Family members will understand what you expect and hopefully honor your wishes. Neglecting a last will may land your estate in probate court following state law. The probate process can be expensive and eat away at your estate. Your simple will: create it now 

You need not hire a law firm to complete a simple will. If you have a complicated estate including a business, the right choice may be to engage a law firm. If it’s important to you that the correct distribution of your assets be done according to your wishes, then a well-crafted will is essential.

I have been an observer several times when family members and friends have argued over the distribution of assets. This has happened even when there is a will covering the distribution of assets. It’s the parents and adult children who argue the most about the terms of the will. 
THE PARENTS FAILED TO TALK ABOUT THE WILL

In one example, there were several brothers. The last parent passed and while there was a valid will, the entire estate included many things including real property, collectibles, coins, and more. The parents failed to talk with the children about the distribution of their estate before they passed away. 

The adult children had not even seen the will until after the last parent passed. The sons or brothers’ wives were worse than their husbands. It seemed that if one wanted something, the other wanted it as well just because. 

Let’s step back a bit and think about what you want to accomplish with your will. If you think that your own will is being created to dispose of your property, think again. Put yourself in the position of those who will inherit your property. An irreparable split between siblings can happen without a complete explanation as to why one or the other is going to receive real estate for example. 

Make a list of assets, not dollar amounts just things such as listing your personal property. Items such as a watch, necklace, etc. of a personal nature should be listed separately. Try not to leave anything off the list if it’s important to any member of the family. The good news is with your list in hand, it’s time to have a meeting with your beneficiaries. 

APPOINT AN EXECUTOR AT THE MEETING TO CREATE YOUR SIMPLE WILL

You need not call in everyone. If you have three adult children, call them to a meeting. Explain the purpose of the meeting. Appoint an executor of your estate and go over the simple will form (unless you need a lawyer for assistance). Tell family members that your will is not to be challenged. You have thought it out and then explain what you have written in the will.

A person whom I knew passed away and decided to leave one of three children less than the other two. The reason was because of some incident years earlier. That’s ok, it was her money to give away. The point is that the reason was in the will so the executor, a sibling was not accused of undue influence over the process. 

YOUR SIMPLE WILL: HELP THOSE YOU LEAVE BEHIND

In closing, remember, the more complete your will the easier it will be for your beneficiaries. Have that family meeting, tell them why you are giving Sandy your father’s watch and why Sam is getting $10 in cash instead of $50,000. Write down what everyone wants, make a decision, and include that in your will. Be sure that everyone gets a copy of your will. Don’t talk about dollar amounts at your family meeting, just shares or specific items.

Please read similar articles at RetireCoast.com. Read this article about assembling your professional support team.

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

2018 changes to federal income taxes exposed state and local taxes as potentially unreasonable.   Many of us probably think that it's federal taxes that are the most onerous when in fact, your combined tax burden at the state and local level may be greater than federal income taxes.  Now we know, it is all about hidden state and local taxes: your tax burden is exposed.

According to the Tax Policy Center, about 48% of all taxes collected are by state and local government agencies. 

High-tax state bureaucrats and legislators are still complaining about how the 2018 federal tax rates will cost their residents more money.  When the 2018 tax reforms went into effect, they saved the average taxpayer on their overall tax bill.  States that have the highest income, property, and other tax rates were exposed.  Their residents had a higher tax bill.

It was possible before 2018 to write off most real estate taxes and mortgage interest on primary and secondary residences including interest paid on lines of credit. Along with these nearly unlimited write-offs were unlimited state and local income tax write-offs.  

Your tax burden exposed

The 2018 federal tax law has replaced those unlimited deductions with a fixed $24,000 maximum for a couple (higher if one or both are over 65) which includes about everything that most people were itemizing in the past. 

The crux of the tax issue is that for the first time high tax states and local governments who for years told people to write off the higher costs had to change their pitch.  No longer could a person buying that high-cost home fully deduct the mortgage interest, taxes, or insurance.  The new limit is a maximum of $10,000.  If that was not bad enough, it also included any government taxes such as state income tax and local taxes.  

The $10,000 limit was a drop in the bucket.  A person who owned a tract home in Orange County, CA worth about $850,000 would have a tax bill of about $10,000 per year.  They would probably owe state taxes of about $15,000 or more than pay upwards of $30,000 in mortgage interest.  $55,000 with only a $10,000 deduction.  Think some residents realized what was going on?
You should not be obligated to pay ever-higher taxes

As you move toward retirement or at least plan for it, it's time to think outside of the box. You probably donated to causes all of your working careers, paid your taxes, and were otherwise an upstanding member of your community. You made your investment, you should not be obligated to pay higher taxes if you choose not to. 

Consider this

Consider this:  You can afford to live where you do and pay all of those taxes because you have a great job making lots of money. When you retire the economics change.  Why wait?  Every year that you rationalize paying 35% more by living in a high-cost state, that's 35% you could be saving for retirement.  I have spoken to many in their 40s and 50s that admit they can not afford to retire in for example California.  So why wait? 

Should you consider moving to the Mississippi Gulf Coast, you may want to visit the Logan-Anderson, Gulf Coastal Realtors website for more articles and to view available homes. Please read other articles on our site that relate. Two of our most popular articles are: "Why I decided to retire in Ocean Springs, Mississippi" and "Why you need to retire on the Mississippi Gulf Coast."

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Want to live near the beach with a great warm climate?  This is one reason why living in Gulfport, MS is a good place to live.  Low cost of living, great food culture, friendly people.  What more can you ask for. 

Gulfport is not on the typical radar, many people pass it up for destinations crowded in Florida or along the Atlantic Coast.  Too bad for them, the rest of us love Gulfport for so many reasons.     Take a drive on U.S. 90 through the city and see the beautiful Gulf of Mexico and white sand beaches. 

This is a great place for military retirees, to shop at the Navy Seabee base and use the VA hospital.  The low cost of housing and utilities will help with your retirement budget.

Gulfport has everything you need.  Great restaurants, shopping and did I mention, friendly people.  Please listen to this podcast and visit our website RetireCoast.com  to read our blog articles about Gulfport, the Mississippi Gulf Coast, and more.   Thanks for listening.  Come back ya hear.

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Consider the volatility of Cryptocurrencies before you include them in your retirement portfolio.  The classic strategy is to reduce risk when you get closer to retirement.  Adding cryptocurrencies goes in the opposite direction. 

Warren Buffett is against cryptocurrencies as he says, they offer no value.  Nothing is created with cryptocurrencies.  No products are bought or sold.  The only way you make money is for someone to pay more than you did.  This is reminiscent of the pyramid schemes of the 1970s.

If you must play with cryptocurrencies, do it on paper.  Pretend to buy and watch how it goes.  If you buy it in your retirement portfolio, will it be there when you retire?  If these flash in the pan schemes to displace national currencies do not work, who loses? 

Please read more about this at our website RetireCoast.com    Please visit our blog articles on similar subjects.  Listen to our other podcasts as well.

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Parents should instill in their children at an early age that they must earn what they receive. Even if parents give things to their children the children should be taught the price of those things. The price is not in money purse but the price they have paid e.g. working long hours away from the family. 

Both parents and children must give each other the gift of financial independence. Parents teach children values and children recognize how important it is that their parents remain self-sufficient.  Others agree with the premise of this article. If you teach your children to become self-sufficient at an early age, you are likely to see that they will start offering to pay for your lunch.

My parents were in their 20s when the kids were born

My parents had their children in their 20s well before they reached their peak earning age.  As kids, we learned that if we wanted money, we had to work for it. As soon as we were old enough, we started doing chores around the house. Later as we got older we picked up part-time jobs mowing lawns etc. 

All of us were out of the house in our early 20s. Yes, our parents would occasionally loan some money, small amounts. We all paid them back even when they told us not to. We paid them back because it was the right thing to do. We raised our families and our parents improved their financial situation as they earned more and were not supporting kids.

Understanding that with people having children later in life, the concept of saving for retirement has taken a turn. It's difficult to buy sports equipment and pay for youth organizations at the same time as you are saving for retirement. Many will have children in high school into their early 60s. 

The best gift kids can give to their parents

It's even more important that older people with school-age children teach their children the value of independence. Independence when it comes to how to manage their finances. They need to learn how to do things for themselves. It's a very hard thing for some parents but necessary. Frankly, it's an expression of love to push them in the right direction. 

A note of explanation. This article is not intended to discourage parents who have special needs children from doing what they believe is necessary to take care of them. Even in this case, what happens when you are gone. If your children need help as an adult because of some medical condition, your work to plan for retirement has become even more critical.

There are only two ways to prepare for retirement. Earn more and save it or spend less. We encourage you to read our blog article on creating a budget for retirement, click here. There are many more articles on this site that you may want to read to help you prepare for retirement. 

Please leave comments about this article. Come and visit us again at RetireCoast.com

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Setting a budget for relocation or retirement can be a difficult exercise.  Particularly in the post-COVID environment. It is nearly impossible to budget for every item since you may not be aware of some things that could be an expense in the future.  To help you with this process feel free to use our budget tool. 

This budget process is a snapshot in time. It is not scaled for payments on credit debt or increases in income over time. You should create various scenarios and save them or use the sheet to model these scenarios e.g. change your Social Security income to consider CPI increases and reduce your credit card debt or show a vehicle is paid off.

Retire Coasts RELOCATION BUDGET Spreadsheet contains several sections where you can enter budget data.  Download the spreadsheet to your computer to save your work. This article takes you through the sections of the budget tool.

CONCEPT OF BUDGETING FOR RETIREMENT

The day you create your budget and make final adjustments, is not the last you will see of it. This tool will be with you for some time. I have used the tool for my planning purposes and it helped me decide to relocate from California to the Mississippi Gulf Coast. 

Several friends and family used the tool to make critical decisions. One result was that several people that I know related to the Mississippi Gulf Coast almost exclusively based upon the numbers contained in the budget. Of course, there were other good reasons to relocate to the Coast as well but the numbers were the most important.

OUR BLOG ARTICLES CAN HELP

Our blog is loaded with articles about relocation retirement budget topics. Please feel free to search by topic to find articles that may impact your decision about retiring and where. Creating a retirement relocation budget will take some time and serious effort. The results will pay off and may pay off very big.

Before you even consider creating your retirement relocation budget, you will need to gather lots of data. Time to start that process. Collect copies of any expenses that will be ongoing after retirement. Consider which of those costs you will continue to have after you leave your full-time job. Our planning tool is only as good as the data you insert. 

This budget spreadsheet tool was created for a variety of purposes including deciding where to live. That is why we call it our retirement relation budget. Use it if you plan to retire in place or if you plan to relocate. By the way, you should purchase your new property before you retire. Read this article about this important topic, click here

This podcast can be used with our blog article https://retirecoast.com/best-retirement-relocation-budget-tool/

Visit the RetireCoast.Com website to read more about retirement and finance.  Our blog articles will direct you to other resources. 

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...

click here: Leave a text, tell us what you liked

Financial literacy education must be taught in school now. This course should include public finance and personal finance. There is no excuse for students not learning these essential life skills. Drop those nonsense courses on alternative lifestyles and sexuality and insert financial literacy in their place. Do it now.

After speaking with the curriculum director for a Mississippi Gulf Coast county school district, I am convinced that a good one-semester course in financial literacy should be required and not just an elective. 

Some schools do not have a course to take even as an elective. Some schools cover this financial literacy with other life topics but it's not enough.

We teach our kids about math but stop there. 38 states have implemented some type of financial literacy education, it should be all 50 states. Stopping at an elective course that is watered down with other topics does not do the subject justice. Our kids are graduating from high school without a basic understanding of how to balance a checking account or account for debit card use.

Why are so many struggling through life

Money is at the heart of a large number of divorces. Money is the reason for suicides, depression, and job loss. People lose their houses because they did not pay their property taxes. The public complains about taxes without understanding what taxes do to improve their lives. A good deal of this misery could potentially be avoided with early education.

Ask yourself, did you teach your children about basic finance? Did your parents teach you? I already know the answer, no. My parents did not discuss financial stuff with any of my siblings. We learned by trial and error. 

I recall when I was in high school, the subject was included in "home economics". Everyone thought that class was just about cooking. I wish I had known, I would have taken it.

During my interview with the educator, I learned that often state legislators want to do the right thing and create a required course but they fail to support the courses with funding for the teachers. As parents, grandparents, and concerned citizens, all of us should become involved in this discussion. Spending what would amount to "chump" change on financial literacy education can help the economy in so many ways.
Resources

Believe it or not, you can use Monopoly and other games to teach children about money and finance. I found this highly rated game on Amazon:  https://amzn.to/3DY65Wj

The Mississippi Department of Banking and Consumer Finance has a good website full of information that can help you get started. This one site can take you to other sites. Please pursue this effort with elected officials and your school boards.

Review other articles on this website about this topic such as: Simple steps to ensure our future is secure and Start your kids on the road to financial success now.

Thank you for reading this blog, please read others on similar topics. Listen to our podcast on RetireCoast.com at popular sites. Visit us on Facebook 

Support the show

🎙️ Enjoyed This Episode?

Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.

📋 Looking for more advanced planning resources?

Explore our membership programs:

• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.

• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.

• All Access Membership — Receive complete access to both memberships and our entire premium planning library.

Learn more at:
https://retirecoast.com/estate-planning-membership/
https://retirecoast.com/business-builder-membership/
https://retirecoast.com/all-access-membership/

💬 Have a question or a topic you'd like us to cover?

Email: [email protected]

...