Ben Simpson argues that schools fail to teach practical personal finance (taxes, investing) and instead promote budgeting and homeownership strategies that keep people paying interest to banks while enriching institutions. He warns that the common advice (save small amounts, buy a primary home on a mortgage) perpetuates inequality, and recommends investing in assets that compound (ETFs, Bitcoin) to grow wealth tax-deferred until sale or lending against the asset. He also states he left school at 17 after realizing the system is rigged to help the rich.
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You don't get taught this in school and that is that you get taxed by the government before you can do anything with the money. You don't get taught tax, you don't get taught personal finance. You get taught how to budget and you get taught how to you should save a cup of coffee a week and that's how you're going to get wealthy. You get taught to buy a house that you live in that you also pay with post tax that you pay to banks for 30 years interest. You can't afford. This great Australian dream of like owning a home or the great US dream of getting your own property is backwards. You would then succumb to owning a piece of property that you never actually fully own because you're continually trying to use your income to pay the house. But what you're actually doing is just paying years and years and years of interest, paying sometimes double the amount of your house to the bank. The only people that they're getting wealthy are bankers and those massive, massive institutions that are telling you to budget. You don't get taught in this, in school because they don't want you to know. And that is you cannot get rich. You will stay poor by doing the same thing that they say by budgeting. You need to understand that compounding returns and investing that money, even if you are not working, that's fine. I'm saying that you need to take that money and you need to invest into assets, whether in an etf. I think Bitcoin for me is obviously the thing that I'm going to push. But just getting anything to let that compounding grow and not pay tax until you go and sell it or lend against it, that is what no one tells you. And that is why I left school when I was 17. Because I realized that this world is rigged to help the rich get richer and the poor get poorer. And that is what I'm trying to educate people to buy assets and don't get caught up in what everyone's telling you to do.
