PAGE D2, KEIZERTIMES, SEPTEMBER 27, 2019
Teens: Want to retire with millions?
McNary teacher can tell you how
By BROOKLYN FLINT
Keizertimes Intern
High school is a time for
fi nding yourself, fi guring out
futures and making choic-
es. At the top of the list of
anxiety-producing fears is
student loans and ending up
broke because of college.
A 2018 study by Forbes
Magazine found that there
are more than 44 million
U.S. residents who owe debt
from student loans alone.
Those indebted former stu-
dents and graduates owed
roughly $1.5 trillion at the
time and the numbers con-
tinue to escalate.
However, there are ways
to avoid such crippling debt,
said Ryan Kirch, a social
studies and economics teach-
er at McNary High School.
Kirch also works in property
investment where he owns a
certain amount of property
and rents out to people.
As a junior enrolled in
Kirch’s economics and fi -
nancial literacy class, I’ve
been on the receiving end of
his advice for staying out of
debt and transitioning into
life as an entrepreneur.
The fi rst advice Kirch of-
fers is opening an investment
account as soon as possible.
When Kirch was a junior
in high school, he was re-
quired to take an economics
class and was fascinated with
money management. “I’ve
always had a business mind,”
he said.
Next, Kirch advises “al-
ways paying yourself fi rst”
and creating good habits. He
pays himself fi rst by putting
money in his investment ac-
count for his future.
If you open an investment
account at age 18 and start
putting in 5 to 10 percent
of your paycheck in that ac-
count, you will have roughly
$20,000 at age 27, Kirch said.
If you stop adding money
to the account and leave it
alone, you will have about $2
million by age 67.
From such a simple start,
anyone could easily become
a millionaire, he said.
Another suggestion is be-
ing decisive about wants vs.
needs. Many adults live pay-
check to paycheck because
they spend money as quick-
ly as they make it. The inter-
est alone from an investment
account could be used for
necessities like food, water,
and bills. That means that the
money in a normal check-
ing account can be used for
Kim May
Salem
author
to visit
KCC
Photo Illustration
things on the “want list.”
Even though an invest-
ment account can make
things easier, Kirch said it’s
still important to learn how
to save money and say “no”
to some of the things that ar-
en’t essential.
puzzle answers
“Anytime I have a big
purchase, my limit is $100.
Anything else, I sleep fi rst
and see if I still want it the
next day,” said Kirch.
Saying “no” to the things
we want is especially diffi -
cult in the age of social me-
dia, which can be a toxic
environment. The presence
of “infl uencers” showing off
new gadgets, fancy clothing
and seemingly endless va-
cations makes people want
to live that lifestyle because
it looks glamorous. Howev-
er, social media infl uencers
never show the bad parts of
what they do or how much
money that lifestyle costs.
Add in the ease of credit
cards and you can swipe as
much as you want without
looking at the price.
Credit card debt is an-
other reason so many young
adults end up scrapping for
money. Learning to better
save your money is a safer
bet than opening up a new
credit card, Kirch said.
To save money, open a sav-
ings account and put some of
your paycheck into it every
payday. The savings account
will be used for things you
want in the future. Now you
can look at the remaining
amount of money in your
checking account and make
a list of the things you want
and fi gure out how they fi t
into your budget.
Kim May, author of The
Moonfl ower, will visit the
Keizer Cultural Center for
a presentation on Wednes-
day, Oct. 23, at 6:30 p.m.
May will talk about her
path to becoming a pub-
lished author, read from her
recent novel and answer
audience questions.
Admission is free. The
Keizer Cultural Center is
located at 980 Chemawa
Road N.E.
May said she collects
genres like a crazy cat lady
collects strays. She has writ-
ten in fantasy, sci-fi , thriller,
young adult fi ction, histor-
ical fi ction, steampunk and
poetry.
Copies of her books will
be available for purchase at
the event.