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The following is a special post from our brand new parent blog, The Money Talk. Consider this a sneak peek, then bookmark www.bkmoneytalk.com to read all of the parent-minded posts moving forward!
A 15-year-old invests $1000 from their summer earnings into a portfolio of stocks and bonds. Meanwhile, a 40-year-old invests $10,000. With a 10% interest rate, who makes more? When the teen turns 65, they’ll have $116,000. Then the adult reaches the same golden age, they’ll have just over $108,000. When it comes to investing, nothing is more powerful than time. As a parent, you have a unique opportunity to encourage and support your child in crafting an investment plan. Here are four vital areas to address with your teen tycoon.
“Blanching” with Two Realities
Blanching is the process of quickly dropping food (like fresh asparagus or green beans) into boiling water, then quickly transferring them to an ice bath to stop their cooking and keep them crisp. Effectively talking to a teen about investing is a lot like the culinary process. First, the shock of what could be: like turning a hundred dollars into a million. But just as soon as their mind begins to simmer, it’s time to present the other reality, like losing your savings to a unforseen stock market collapse or financial scam. A teen needs to see the world of investing for what it is: a balance of risk and reward.
Planting a Seed
Once your teen has been effectively inspired and sobered, the next step is to get some skin in the game. It might sound easy to just provide your teen with some seed money to invest. But the more skin they have in the game, the more effort they’ll put into their investment strategy, and the more they’ll learn as a result. If you just can’t help but get involved, consider matching their funds dollar-for-dollar, just like an employer would.
Getting Practical
Assuming your child is younger than 18 years of age, there’s one area that your involvement will be a non-negotiable. That is the account setup stage. Minors will need a “custodian” in order to open the account. The custodian’s social security number, name, and address will be used alongside that of the minor’s to get the investment account up and running. Most brokers offer custodial accounts, and some even have special incentives for aspiring stock market mavens. Well-regarded kid-friendly brokers include Ally, Acorns, and Betterment.
Freakouts, Fees, and Follow-Through
Most teens love variety. Fast-paced activity and constant change are just a normal part of growing up. For a genius daytrader, such energy could be of enormous benefit. But to the average small investor, constant tinkering will result in one thing: fees. Most modern brokers charge by the trade. As a result, it’s important to encourage your child to let their investments sit. As tempting as it may be to sell a stock on during a day of market turmoil, Warren Buffett’s wisdom offers a clear warning: “be fearful when others are greedy and greedy when others are fearful.”
For more information about the power of compound interest, watch a clip from our episode on the subject below, or read our book for kids titled How to Turn $100 into $1,000,000.
Empowering Your Teen Investor published first on paintballgunreviews.tumblr.com/
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How cool is this? The world's first Day Trading Board Game! www.indicatorwarehouse.com/trading-board-game/
... On one exceptionally warm day in April after a long day at work, Miles impulsively decided to go for a swim in the bog near his house,.. he NEVER returned,.. his water-logged body was found by passers-by the next morning and was reported to the authorities.. was he the victim of the killer snapping turtle that inhabits the pond or something much more sinister??..
..You'd think he would've taken off his shirt and tie first,... poor devil..
SOOC
Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.
Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.
Short description for DayTrader 1.1: DayTrader (formerly Stock Ticker) is a game where you try to earn as much money as you can by buying and selling stocks on an imaginary stock market.Playing instructions are available within the game.Enjoy!DayTrader was recently reviewed in issue #5 of PalmUser magazine.Here are a few text snippets, lifted straight from the review by Anne Johnstone:"I'm not sure whether to classify this game as arcade, puzzle or strategy,but it's certainly original. Kevin Umbach's Day Trader presents siximaginary stocks, complete with animated graphs showing their recenthistory. The aim of the game is to buy and sell each one at just the righttime to make a profit. With days slipping by at one every second, keepingon top of the share information presented is a fairly frantic, butabsorbing task. Making the game even more interesting are share dividendsand the possibility of companies going bust." PalmUser magazine issue 5
www.palmgear.com/en/usd/DayTrader/product_4798921_details...
Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.
Forex HBA Trading System: A powerful trading system-strategy best for scalpers, daytraders and positiontraders produce 85% accuracy and works with 1 min to weekly timeframes!
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A FREE Downloadable Day Trading Spreadsheet.
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Regards:
Trader; DowBoy
03.29.2011: Went back to the CDA house again for the DAYTRADER/SEAHAVEN show. It wasn't as packed as Saturday's show but sure was heap loads of fun.
As usual it was fun seeing good bands play smaller shows...specially shows I can actually go to! :D
(I didnt get to shoot a lot of Seahaven coz there were a bunch of people infront of me and I couldn't sneak through)
60 minute wedge day to day trade pattern. Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.
Remote FX trading just fits my daily schedule offering great flexibility - New Trader Testimonial 16/12/2015
www.youtube.com/watch?v=Bs8_WhjCzV8
#testimonial #forex #fxtrading #investing #traders #fxtraders #trading #fx
Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.
Come visit us at www.futuresandfutures.com for day to day futures and commoditiy trade entries and exits. Live trading, live chat for questions, webinars, educational blog posts, news, and one on one mentoring upon request.