Should Economics such as paying taxes or investing be taught at a young age (10-14) or from your senior years when you have a better understanding of the predicament, i.e. (15-18).
This is one of the few life skills I think would be wasted in teaching in public schools regardless of age, unless someone is in a dual credit course and specializing in finance. To my knowledge, most schools go over the basics of how money works at various points, but they don’t go super in depth. I think going more in depth for everybody would be wasted effort that takes away from the rest of the curriculum.
First, most people can’t handle money well when they try to do it in depth. You’ll see all kinds of people thinking they’re trading when really they have just converted a few hundred dollars to stocks and maybe made or lost a few pennies here and there. These are also the people who consume the most information about trading aside from actual professionals. Most people just suck with money.
Second, when you zoom out and ignore the minutia, money is not hard. This is why I think waiting to teach economics until the last two years of high school seems like the best approach. If you like economics junior year, you might specialize. If not, thats close enough to the point that it will be useful that understanding some basic principles of handling money will be sufficient for most people.
Simply, most people just need to understand this basic process.
First, make more money than you spend. Move in with someone, whatever.
Second, open a savings account with compounding interest. Make small contributions and grow slowly.
Third, once you have savings and positive income just stack until you have a few thousand and put it into a money market fund with standard returns (without touching your savings).
Finally, now that you have a wealth base just invest in some kind of property that requires minimal maintenance and provides a bit of passive income.
Once you’ve done this you can think about diversification, but eh, by that time you should have a pro managing your money for you.
The ONLY exception to the last two rules is bitcoin. If there’s something you expect to grow over ten years, just sink any random thousand dollars into it and sit on it until it pops off.
And the ONLY exception to my view is paying taxes. Thats a skill that needs to be taught because its an easy way to find yourself in debt to the IRS for life.