Good morning YPs,
A friend of mine suggested I check out this clip of this 14 year old kid who is already investing his money in the stock market and has accumulated $50,000 in doing so. After checking out the clip I was immediately impressed on how he got involved in what most of us view as extremely complex. Basically he wanted a pair of Nike sneakers but his mother told him instead of wanting the sneakers he should want a piece of the company. Now he’s able to afford any pair of Nike sneakers he wants.
A lot of what we learn about money (good and bad) comes from what we’re exposed to when we’re young. I’ve been fortunate that I’ve been pretty disciplined with credit cards and haven’t fallen into the traps that so many young people fall into. I’d like to sit here and say that my parents played a huge role in my discipline but the truth is they didn’t. I think it’s very important that parents really talk to their kids about money, debt, and how to accumulate wealth at an early age. The biggest thing that stuck out to me in this clip is that the young man is investing in things he enjoys. As a result, his investments probably seem more like fun than anything else.
Check this out and definitely take a look at where your money is and what it’s doing for you.
YPRichB, YoungProfessionals Writer
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