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Is It Easier for Youth to Become Millionaires?

Teaching Latino youth to become socially conscious millionaires, Part 4,

By Armando F Sanchez
Published on LatinoLA: October 14, 2013


Is It Easier for Youth to Become Millionaires?


Let's think for a moment about the lives of Lupe, Jose, Maria and Juan. They are all teens. They live in different parts of the country and live in small rural towns where Main Street consists of two streets. These kids live in the poorest section of town.

Parents work in the fields for many hours earning less than minimum wage and there is very little work in the winters. They attend small country schools and are getting decent grades. Right now, none of them are thinking about going to college. Their English reading and writing skills are very limited. Additionally, they all share a passionate dream of becoming millionaires. So what are their chances of realizing their dream?

My thoughts are that since they are living in the 21st century, the odds for all four of them to realizing their dreams of becoming financially successful are very high.

Never in the history of this planet has so much money been printed and circulating worldwide. Great quantities of money moves 24/7 throughout countries in matter of seconds. We will soon be referring to billionaires as trillionaires.

Physical money, for example, dollar bills is converted into electronic money-say credit card or PayPal-and now you can buy things instantly throughout the world. Consequently, I can buy items, using only my iPad, from stores in Los Angeles, Paris, Istanbul, and Hong Kong all in a few minutes.

Our youth already know this. Now their focus needs to begin on how to also use the Internet to realize their financial goals. Their potential business partners and customers are worldwide.

Doing business over the Internet is just one example of the new financial growth opportunities for our youth to become millionaires. As we encourage them to think as future business owners, we provide them with a point of view that seeks to gain financial advantage of this new global money exchange system.

One afternoon, a few years ago, a boy arrived from high school and asked his mother to explain to him how stocks worked. He was a sophomore and his school mates and him had struck up a conversation over lunch. One of them suggested that they pool their own money together and begin buying actual stock. As far as I know there is still no age limit on those that can buy stock on-line. The mom simply decides to give him some cash and informed him to work closely with his friends and figure it out. I asked her if she had any concerns about the young man investing the money and having him lose all of it. Her response was, "the money I gave him is small and insignificant in comparison to what he could learn if his friends and he actually learn how to invest in stocks". "Besides," she added, "I could have given him the same amount, or more, of the money and he could have bought another trivial item. What lesson would he learn from that?"

That boy is now in his 30s. I recently asked him if he was still investing in stocks. His response was, "Of course!" He shared that his high school friends and him did in fact pool their own money together and started purchasing stock on-line. He shared that after a few months of investing together they had made a little profit but then they decided to move and put most of their money on a brand new small technology company and in fact they did quite well. "What company was that?",I asked. His response was, "Apple Computers."

A young person can now do many new things with the Internet that can help them early in life to build an understanding of how to become millionaires.

Multiple students have taken my recommendations to go on-line and take the free tests for a pilot or real estate licenses. Several students prepared to take both. In one case, students on their own, formed study groups and worked together to increase their test scores. A secondary benefit for the students taking these examinations was their immediate realization of how critical it was to know mathematics and science. None of them had ever visited the local municipal plane airport and yet they were already taking steps toward learning how to fly. One of them went on obtained her real estate license BEFORE she graduated from high school.

The Internet has brought down the barriers of distance and access to knowledge. These students can get Internet access at school, library and on their phones. These four students can now associate over their web cams and form a "future millionaire club". They can pool their time together and help the group gather information worldwide. The four of them can imagine that they have $50,000 and can play the stock market together. What if they still can't read, write and speak English? Like the Jamaican's say, "No problem, man!" They do all their communication and research in SPANISH! or any other language (except Klingon-I mean no disrespect if you happen to be a Klingon).

Before the age of the Internet, there were major hurdles to accessing large amounts of information about becoming financially successful. Today, the lessons of how money flows is now open and available to practically everyone with access and it's also in their own language. Students can find others worldwide that share similar interest, create a virtual community and begin meeting, interacting and plan together.

For youth living in cities, they have even greater access to vast amounts of information and resources to assist them to realize their dreams of wealth.

About Armando F Sanchez:
Armando F Sanchez is CEO of Armando F Sanchez Production which produces global New Media programming
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