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Teaching Son About Stock Market
Posted on 3/11/15 at 1:07 pm
Posted on 3/11/15 at 1:07 pm
My son is sixteen. He just texted me that he is interested in stocks and bonds.
Is there a good "play money" program out there? I'd prefer he not risk real dollars until he gets the feel for it.
TIA!
Is there a good "play money" program out there? I'd prefer he not risk real dollars until he gets the feel for it.
TIA!
3
Posted on 3/11/15 at 1:25 pm to JudgeHolden
TD ameritrade has an option where you are using fake money to trade with. It's a good way to learn about trading stocks, futures, etc.
Posted on 3/11/15 at 1:29 pm to LSU0358
That is what I needed! Many thanks.
Posted on 3/11/15 at 1:30 pm to JudgeHolden
Get him Robinhood and give him 50-100 bucks to play with after that.
Posted on 3/11/15 at 1:31 pm to JudgeHolden
Use real money, preferable money your son has earned. Nothing will hold attention like skin in the game.
Posted on 3/11/15 at 1:32 pm to Sigma
quote:
Use real money, preferable money your son has earned. Nothing will hold attention like skin in the game.
This too.
With Robinhood.
Posted on 3/11/15 at 1:33 pm to JudgeHolden
quote:
My son is sixteen. He just texted me that he is interested in stocks and bonds.
If you really are ballsy, match $1:$1 his investments in bluechips/index funds with the stipulation that his $1 goes into penny stocks.
He will learn very very fast that you do not make money in penny stocks and you don't beat insiders. Also will teach him the importance of slow patient investing
Posted on 3/11/15 at 5:55 pm to JudgeHolden
The investopedia simulator does just that. Although, having some actual money involved might keep him more humble. It's all too easy to buy speculative stocks when there's nothing at risk.
Posted on 3/11/15 at 5:59 pm to GoldenD
Redirect him to real estate.
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