[derf_]

Teach them basic financial literacy. The time value of money, the power of compounding, the relationship between risk and expected returns. Grade school does not cover any of this.

It does not matter what your income is if you cannot budget and save.

[OutOfHere]

Financial literacy is a red herring. If one only stores their savings in gold or an index fund, that gets them practically all the way there. It takes all of two minutes to teach it. It compounds itself.

Risk too is sort of a red herring. Just buy in whenever it dips, and you are set. Diversify just enough to dilute the aggregate risk, and it practically disappears.

Savings are not even possible with low income, only with medium to high income. The lesson to learn is to avoid wasteful excessive spending that benefits oneself only in the moment.

[_wire_]

Yes, keep focused on the future, deny the moment. Avoid testing your own experience about what waste and excess mean. Follow the herd and treat participation algorithmically. Buy in. All key points for a satisfying life well lived.

[bathtub365]

Plenty of people have bought what they thought was the dip, only to watch an instrument go to almost zero and never recover. Look at Bed Bath and Beyond. It’s not quite that simple.

[derwiki]

Time in the market beats timing the market. But we’re also probably talking about broad index funds and not BB&B stock.

[OutOfHere]

If you buy junk with all of your money, that's on you. I mentioned gold and (broad) index funds, although a few select cryptocurrencies also work. Buying junk must be restricted to a very small amounts only, to what one is willing to risk.