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Started By
Message
Invest $3500 for my 10 year old....
Posted on 12/21/20 at 8:11 pm
Posted on 12/21/20 at 8:11 pm
So heres the deal, my 10 year old son had $3500 in a cd making pennies & thought enough is enough & this is way overdue, should have done it long time ago...
This is his xmas, birthday, etc money & I burned into his brain that saving is the way to get somewhere & not to just throw it up in the air like mom does....
It seems to have stuck for now as he choses not to spend it!
Seems like alot of guys like Vanguard VTSAX here, is that the right choice right now for the time being. Or is vtsax a gamble right now cuz its high & $3500 isnt much money?
He wont need this money anytime soon, 10 years from now...maybe.
I do have another fund for him that ive been contributing to since he was born but the $3500 is his saved money & dont want to do something foolish...
thanks for the insight
This is his xmas, birthday, etc money & I burned into his brain that saving is the way to get somewhere & not to just throw it up in the air like mom does....
It seems to have stuck for now as he choses not to spend it!
Seems like alot of guys like Vanguard VTSAX here, is that the right choice right now for the time being. Or is vtsax a gamble right now cuz its high & $3500 isnt much money?
He wont need this money anytime soon, 10 years from now...maybe.
I do have another fund for him that ive been contributing to since he was born but the $3500 is his saved money & dont want to do something foolish...
thanks for the insight
This post was edited on 12/21/20 at 10:46 pm
22
Posted on 12/21/20 at 8:37 pm to slater
Buy Coca Cola, set dividends to reinvest. Tell him not to look at it until he's 50.
ETA: Sorry, won't need it for 10 years? Still K, reinvest dividends.
ETA: Sorry, won't need it for 10 years? Still K, reinvest dividends.
This post was edited on 12/21/20 at 8:38 pm
Posted on 12/21/20 at 8:54 pm to Ace Midnight
quote:
Buy Coca Cola, set dividends to reinvest. Tell him not to look at it until he's 50.
ETA: Sorry, won't need it for 10 years? Still K, reinvest dividends.
Computershare you can find company sponsored drip
Posted on 12/21/20 at 9:12 pm to slater
VTI and VUG
Posted on 12/21/20 at 9:13 pm to slater
If I were investing the first 3500 for my 10 yo, I'd buy bitcoin.
Posted on 12/21/20 at 9:14 pm to slater
Nobl
Posted on 12/21/20 at 9:15 pm to slater
Put 1/2 to 3/4th into a broad market fund, but also some into high flying ETF’s like ARKK and TAN.
Posted on 12/21/20 at 9:46 pm to slater
Talk to him, teach him, give him learning assignments, make him read, and then let him pick what he wants to invest in. Build the foundation. (And yes, VTSAX)
Posted on 12/21/20 at 9:49 pm to slater
Russel 1000 Growth
This post was edited on 12/21/20 at 10:06 pm
Posted on 12/21/20 at 11:27 pm to slater
I put $5,000 in Fidelity Blue Chip Growth in about 1995 and let it ride. It’s been up and down, but it’s over $69,000 as of yesterday. It’s been interesting to watch it through various booms and busts.
Posted on 12/21/20 at 11:45 pm to slater
Technology is the future
QQQ
QQQ
Posted on 12/22/20 at 8:55 pm to Twenty 49
That’s very interesting. What a great example of what patience can bring.
Posted on 2/2/21 at 8:17 pm to Costanza
Heres another question as want to get this done.
Difference between vtsax vs vti which I guess from my research is the same as far as what the mutual fund invests in.
VTI is $200 a share vs vtsax is almost $100.
figured its only $3500 so get more shares w/ vtsax.
Insight please
Difference between vtsax vs vti which I guess from my research is the same as far as what the mutual fund invests in.
VTI is $200 a share vs vtsax is almost $100.
figured its only $3500 so get more shares w/ vtsax.
Insight please
Posted on 2/2/21 at 8:21 pm to slater
ZOM
Yup - I’m sick but it’s what I would do. GL & $3500 is a great start.
Yup - I’m sick but it’s what I would do. GL & $3500 is a great start.
Posted on 2/2/21 at 9:42 pm to slater
quote:
Difference between vtsax vs vti which I guess from my research is the same as far as what the mutual fund invests in.
VTI is $200 a share vs vtsax is almost $100.
figured its only $3500 so get more shares w/ vtsax.
Insight please
At the end of the day, percentage growth over time is what matters. If both funds go up 10% over, say, 1 year, you'd net out the same because the return on a lower number of shares is offset by the growth on a higher per share price.
$100 x 1.1 = $110 x 35 shares = $3,850
$200 x 1.1 = $220 x 17.5 shares = $3,850
Posted on 2/2/21 at 9:54 pm to slater
VTSAX is less of a gamble than any individual stock. Period.
Posted on 2/2/21 at 9:57 pm to Pendulum
quote:I'm doing this. Everything they get for bdays/christmas and such goes into bitcoin. They love watching it fluctuate and grow. It's not a crazy amount of money, but it's sure as heck better than sitting in a savings account.
If I were investing the first 3500 for my 10 yo, I'd buy bitcoin.
Posted on 2/2/21 at 10:00 pm to slater
I would think about putting it in an SP500 etf or a total market index etf.
Its not as sexy as buying some individual stocks but it works to get broad diversification. I read some Warren Buffett advice and he said most retail investors should mainly invest in these type of funds.
I followed his advice on my portfolio.
Its not as sexy as buying some individual stocks but it works to get broad diversification. I read some Warren Buffett advice and he said most retail investors should mainly invest in these type of funds.
I followed his advice on my portfolio.
Posted on 2/2/21 at 10:00 pm to slater
Short GME
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