According to Moodle, I’ve taken 33 classes during my time here at EMU; there’s only one I’ll recommend to anyone, regardless of year, major, and even interest: FIN 289- Personal Finance and Investing, taught for the past 14 years by Jim Leaman. 

Why this class? I became curious about investing during the pandemic when stock prices were all over the news, but it wasn’t until this class that I truly understood the value of the stock market. This seemingly-abstract spreadsheet of colorful numbers I didn’t think I cared about has become a manner of constructing my financial future, more crucially than many of my peers seem to understand.

Before I continue, I want to be very clear: I know that being able to afford investments is a privilege. Many individuals, let alone college students, cannot afford to set aside money for this (though you don’t need huge sums to get started). What I mean to promote in this article is the importance of financial education early on, since starting early is the biggest benefit. 

I want my peers to understand that the stock market is, while unpredictable, our best tool to protect our wealth from inflation, the rising national debt (that may fall on our shoulders), the higher taxes for our generation, the decrease in the existence of private pensions and expected lowering of expected Social Security payouts, and the environmental degradation and preservations our generation must confront. 

All that is intimidating, and it’s not fun to think about. But in 30 years time, I would rather you had taken FIN 289 and at least had the chance to be educated on your opportunities as well. 

Young, educated investors have the knowledge and opportunity to maximize compound interest, establish conservative consumption habits, protect themselves more effectively from the volatility of the market (since we have more time to weather that volatility), and maximize employment benefits and various government resources in the U.S. to increase savings. 

Starting early and knowing what we’re up against, even if you chose a different route to prepare for your financial future, allows you to make a conscious choice in your finances instead of finding out too late. 

Just ask Leaman. He says it’s important to take this class because “we don’t do a good enough job in society generally of informing young people of the issues around finance and the value of money. The best friend to any investor is time; the best time to save and invest is your first few years out of college. This course is designed to help us understand how investing is an important part of how we do business, buy products, sell products.” 

If he were a student considering taking this class, he says he “would want to know the information as soon as I can so I don’t miss my first and only chance.” 

To current students considering enrolling, he’d say, “Make it a priority to fit it in.” The flexible nature (synchronous and asynchronous format options) of this one credit-hour class and application to postgraduate life make it accessible to all students and especially applicable for seniors. Leaman is “trying to teach a system that can be very simple for young people to take and launch with.” 

The course emphasizes the importance of the power of compounding interest, the time value of money, the simplicity of designing investments for yourself, and cultivating the confidence to launch into the post-graduate financial world. The class, from day one, examines the “Club Fund,” an investment portfolio with tens of thousands of dollars that enrolled students decide how, where and when to invest. Students practice evaluating the multitudes of options available (such as mutual funds, index funds, bonds, etc.) and how to best design their portfolio to suit their needs. The practical application of these concepts is invaluable. 

“It’s not just looking at things in theory,” Leaman said. “It’s real money that the students are responsible for managing.” And this real money allows students to learn about the stock market without requiring their own personal participation in the market–a fabulous learning opportunity for college students preparing to enter the ‘real world.’You don’t get second chances in preparing for your financial future.” Leaman noted, and I agree. Perhaps the best time to invest was yesterday. But the best time to enroll in FIN 289 is now.