Catching Up to FI

The $1,000 Gift From Jonathan Clements To 18-Year-Olds | Bill Bernstein & Christine Benz | 160

10 snips
Aug 3, 2025
Christine Benz, a finance expert from Morningstar, and Dr. Bill Bernstein, a financial theorist, discuss the groundbreaking Jonathan Clements initiative aimed at funding Roth IRAs for young adults, particularly from low-income backgrounds. They emphasize the importance of teaching financial literacy and the impact of early investments on saving habits. The program's innovative approach includes a $1,000 grant for 18-year-olds, paired with comprehensive financial education. Together, they reflect on Jonathan Clements' legacy and the role of community in fostering financial responsibility.
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ANECDOTE

Money Buys Time and Autonomy

  • Jonathan Clements shared how money buys time, autonomy, and experiences, not just material stuff.
  • He inspired many with his clear focus on what money truly affords beyond possessions.
INSIGHT

Starting Young with Roth IRAs

  • The initiative aims to start young people, especially from low-income households, on savings by funding Roth IRAs with $1,000.
  • Logistical challenges arise because Roth IRA contributions require earned income and must be made in the account holder's name.
ADVICE

Donate to Fund Young Savers

  • You can donate to the initiative via the Bogle Center with full tax deductibility to help fund young people's Roth IRAs.
  • Donors contributing $250 may receive Jonathan Clements' book and help seed contributions for youth.
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