How to Money · Wednesday, July 15, 2026
Paul Merriman believes that financial literacy, including budgeting and understanding basic financial concepts, is more critical for long-term success than mastering stock picking. He supports requiring financial literacy courses in universities, aiming to equip students with the foundational knowledge to avoid emotional financial decisions and understand tools like 401(k)s. While acknowledging the value of advisors for those who can't manage their own finances, he stresses the significant payoff for individuals who learn to invest independently.
“We want them to understand budgeting. We want them to understand borrowing money. We want them to understand a four h one K plan. We want to make sure they have the language so that they're not going to be over emotionally overwrought with having to face stuff they don't understand.”
“But if you can't, if you're afraid to invest, a good advisor will do that for you. It doesn't mean they know the future any better than you do. They don't, they can't. They don't know anything about the future. They know a lot about the past.”