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E_Ransom comments on Open thread, 25-31 August 2014 - Less Wrong Discussion
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Looking for suggestions:
I'm brainstorming crafts or skills to try out as classes for my library. I'm trying to come up with a list of practical skills that my patrons might be interested in, such as knitting, sewing, scrap-booking, potentially gun maintenance and safety (the local police department sometimes holds classes of this nature).
I'm looking for suggestions of other such skills that might be useful for a library to offer to the general public. These are practical skills classes, so things such as investment or business start-ups are a little outside the scope of what we're looking at providing. At least in this setting.
Any suggestions?
How to paint your house. Basic plumbing and electrical. How to check your car's oil, radiator fluid. How to open an investing account rather than a savings account (very practical). Knife skills for the kitchen.
I'm wanting to start an investment class anyway. We have a lot of near-retirees panicking because the state's pension plan they're on is almost worthless. So a lot of patrons are wanting to find ways at the last minute to bolster their income. Not the ideal target audience, sure, but it'd be a start. I'm hoping to eventually attract the middle-aged and newly married who can really benefit from learning to invest now.
Who will teach the class?
"Here's how to open a (insert online investing resource here) account. Here is what percentage of index funds vs bonds to buy at different ages and risk tolerances. Here are which things to buy. Do not buy stocks. Go forth and invest."
You don't need a financial professional to teach that, but you might need a good teacher. You have to take an unfamiliar process and make it familiar and approachable so that people actually do it.
What makes you sure an online investing (=trading) account is appropriate for a given person?
What makes you think a mix of (presumably) large-cap equity and bonds -- and nothing else -- in a certain proportion is an optimal mix looking forward?
Do tell. Which things to buy?
I think that the library class that will do people the most good is one that just gets people with more than a month's budget in their bank account to open an investing account and buy literally two things, one low-risk moderate-return and one high-expected-return. My recommendations in the absence of actually doing research would be US federal bonds and an index fund of small-cap stocks - likely not optimal, but even more likely better than a saving's account.
I have a few potential resources in the area. One from a local firm. With the right resources and help I could also personally present the materials.
I think all the needle crafts are handy:
Needlepoint Crochet Knitting Embroidery
I think that sewing and learning to make a dress, blouse, pants or how to hem your own pants is useful and most people don't know how to sew anymore.
I would also consider reaching out to organizations to see who you can bring in and then just serve as a point of contact and outreach to the community.
I'm not sure that coming up with the skills yourself is the best idea. You could simply announce that you provide space for anyone to hold a class to teach whatever they want to teach.
Introductory programming perhaps? (Presumably you have some public computers in your library.)
I have a computer major friend who's learning to make apps creating a few presentations for just such a class. I'm considering offering a tutoring service for students at the library and, if that works, going from there into basic programming skils. While I am not personally a skilled programmer, with the right resources I could teach the basics.