Do you know a teen? Try this experiment- you’ll be amazed!

If you want to confirm your thoughts of the youth (or a liberal) on how outrageous their thinking is, look no further.

Recently I did this social experiment about money with my 11 year old daughter. While she is a conservative- she is still a child. She understands both world views and heavily favors the conservative lifestyle and approach to conflicts.

Many people would say that socialism is childish. They are correct.

Although my daughter didn’t state anything of a socialist on how to obtain wealth, she still wasn’t realistic. I encourage you to do try this with a pre-teen or teen you know or meet. Trust me, it is mind-blowing.

Below are the questions for the exercise, followed by the conversation with my own daughter Julie.

ASK A TEENAGER:

  • Hello, I am curious. What is it you are going to do after High School?

Now, depending on their answer you can move straight to the direction they lead you on. Many will answer with something radical: I am going to be a rock star. A millionaire by developing an APP. Singer. NBA Star. Football Star.

  • Now, what is plan B if that doesn’t work?

Here goes for their “settle.” They wasted time following their heart instead of their heads. Realizing winning the lottery is difficult- but still in denial of their failures.  Now they will now answer with: I will study social work. Become a chef. Get a Business degree from a Marxist college. Okay. Fine.

  • How much do you expect to earn with your new degree at your new job?

Now it gets good. The young brain puts out a unreal number. Now it is game over.

  • Wow- impressive for someone straight out of college with no experience. How much will be your monthly expenses? (Include rent, food, car, gas, light, credit card, student loans, medical, auto insurance and etc.)

They begin to realize the money that they once thought was huge- isn’t. Yet, the little rascal thinks they outsmarted you because they still have money left over after paying their bills. But here is the last part**….

  • Wait- I forgot to add in your taxes. There are federal and state taxes. Deductions… I suppose we can go back to your expectation of how much you believe you will earn. Now, let’s taxed all that wealth and THEN start paying your monthly bills.  

The youth would say “No fair! I thought you meant AFTER taxes..” Now the scoundrel has totally lost it! Your reply should be: “Oh! Now you believe you earn MORE than what you originally stated? Wrong.”

 

 

Now here is my conversation with my daughter:

**Note: Julie already knew about this being a experiment upfront because we already have the blueprint to her life. But we didn’t go over the numbers. Until now.

  • Hello, I am curious. What is it you are going to do after High School?

Julie: Well, I am going to college to study political science and then get into law school. But that is only if I don’t get drafted to the WNBA or play international basketball.

  • Okay- let’s stick to the law school for now. How much do you expect to earn your first year as a lawyer?

Julie: Hmm. Since I will be in my mid-twenties. I suppose… well definitely over 6 figures. I’ll say 150,000k with bonuses. (Realizing that is a lot of money, she quickly added in-) I have a lot of lawyer connections and my clients are rich.

  • Your clients and connections trust a 26 year old with no experience? How did you establish yourself as a creditable lawyer in such a short time? Your resume says Law school grad and basketball?

Julie: (Giggles) Okay. 95,000k I start with.

  • Then we go over her monthly expenses. She has a good amount of cash for herself to keep. But right before I drop the tax bomb on her- she realized where I were headed to…

Julie: NO!! But I thought you meant AFTER taxes!!

The attorney Julie realized her salary went from 95k down to seeing 50k a year. Then with 50k she has to pay her bills. She went from luxury downtown living, to living in a tiny studio in Boston, MA.

The results?

Julie’s final thoughts: I need to be crazy rich for this taxation burden won’t hurt me as much. Or taxes has to be so low, for it won’t hurt me as much either! And I read. Taxes only go up! So rich it is..!

 

Encourage the youth to always use their full potential, creativity and imagination- especially if the heart doesn’t like it.

4 thoughts on “Do you know a teen? Try this experiment- you’ll be amazed!

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