Financial Independence Daily FI discussion thread - Tuesday, February 15, 2022 |
| Daily FI discussion thread - Tuesday, February 15, 2022 Posted: 15 Feb 2022 02:02 AM PST Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments] |
| Teaching Kids About Investing: 1 Year Update Posted: 15 Feb 2022 07:29 AM PST For Christmas 2020, I gave my godson (10 years old) $100 to invest over the course of the year. He could pick between CDs, real estate, stocks, or mutual funds. I made him a kid-friendly video to explain each option. He chose to divide his money between a CD, and Amazon, Microsoft, Home Depot, and Sony stocks. Every month I'd give him an update, and he ended up raking in an extra 20%. I posted about this when I first started, and people were (rightfully) concerned that a kid wouldn't love the idea, or that he'd get bored. But he LOVED it! He was so excited to receive his envelope of capital gains at Christmas, and it showed him on a kid-level how investing works. He was so excited to get his new $100 for 2022 and try to strategize to beat his 20% of last year. So far, he's lost $10, but that's a good lesson as well. Just wanted to share because it was such a success and it might be helpful to parents or uncles/aunts who want to teach the kids. Here's the video I made him: (Mods, I'm not selling anything, this is just for fun.) [link] [comments] |
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