"When can I get that 1000 bucks out?" the kid asked.
He was thinking, of course, about the long summer stretching out in front of him and how to fund the incessant demand for phone credit, Playstation games, junk food and more phone credit - he could blow a 1000bucks exchanging mobile inanities on Facebook in one week alone.
"You get it when you're 65," I told him.
He attempted to reduce what seemed to him a highly improbable age.
"I thought you retire at 52," he said.
LOL, I wanted to text him (but didn't to save on phone credit). He hasn't yet read the Retirement Commission report that contains the very sensible suggestion of raising the retirement age to 67.
I didn't have the heart, either, to tell him that - due to a number of major shocks to the global financial system and the eroding effect of unavoidable management fees - his $1,000 KiwiSaver Kickstart is now valued at only $850.
Sometimes it seems cruel to teach children the harsh facts of finance but, according to the Retirement Commission, the sooner kids get some financial literacy into them, the better.
And while the language embodied in the National Strategy for Financial Literacy can veer between the boringly bureaucratic and baby talk ("Financial education is the teaching and learning that leads to financial literacy.") - it's difficult to disagree with the sentiment.
Other than the educative effects of bitter experience what else but early schooling in money matters can reduce the 'information asymmetry' between the financial industry and the rest of the population? I can't think of anything.
"So can I have $10 then?" he asked.
"No," I told him, "and let that be a lesson to you."
