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re: Beginner investors. My 2 teen kids.
Posted on 4/4/23 at 8:18 pm to lsugorilla
Posted on 4/4/23 at 8:18 pm to lsugorilla
Hot take, they going to college with relevant degrees?
I'd say let them spend it till they graduate college(mostly paid for, working during college). I spent high school studying my arse off, so the money i earned in summer or afterschool jobs, i blew it on cars and some trips. Worth it. If i just studied and saved, i would have missed out on alot of life lessons.
If i had invested that, or kept those investments, i would be a multi millionaire, sure. But i would have missed so much. I'm still financially completely fine, and i had some good times as a young dude.
I'd say let them spend it till they graduate college(mostly paid for, working during college). I spent high school studying my arse off, so the money i earned in summer or afterschool jobs, i blew it on cars and some trips. Worth it. If i just studied and saved, i would have missed out on alot of life lessons.
If i had invested that, or kept those investments, i would be a multi millionaire, sure. But i would have missed so much. I'm still financially completely fine, and i had some good times as a young dude.
2
Posted on 4/4/23 at 8:57 pm to j1897
quote:
I'd say let them spend it till they graduate college
I don’t want them not to spend money. I would like a nice balance. Heck. Even if they only invested a little. That’s 100% more than me
Posted on 4/5/23 at 12:21 am to j1897
Teach them about the time value of money. There are a lot of charts out there showing you’re better off investing $100/month at the age of 20 than $500/month at the age of 40, those numbers are probably off but you get the picture. The main key is teaching them to live within their means, and if they don’t like it, to change what they are doing to make their means better, this is America and the second option is always available.
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