By Larry Kane

PHILADELPHIA (CBS) – Now is the time to make those New Year’s resolutions come true. But when it comes to personal finance, most of the experts feel that many of us need a lot of education.

Tom Corley is a successful financial planner and author of a book on the daily habits of the wealthy. He says that many Americans fail to plan ahead and instead, spend too much, too soon:

“More people actually plan for their vacation than they plan for their retirement,” he explains. “People are not taught by their parents to save, and I call it ‘the 80-20 rule.’ Put away 20 percent of your savings and live off the 80 percent. If you teach your kids that, then it becomes a rich habit.”

Brennan Lothery is a former business journalist and is now a member of the Wealth Management Group of Clark, New Jersey. He says the lack of financial knowledge in our nation is baffling:

“We do not have that financial education in place early on because you would be surprised how many people do not know what a stock is, what a bond is, what a mutual fund is and that they should be starting earlier rather than in their 40’s or 50’s.”

Lothery and Corley are joined by Kurt Balderson, a wall street veteran who gave it up to teach students about financial realities at Great Valley High School on the Voice of Reason on The Comcast Network at 9:30 p.m. tonight.

Hear the interviews in their entirety (trt: 24:06)…

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