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catoismymotor (< 20)

Teach your kids how to invest, right now.

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February 20, 2009 – Comments (7)

If you have a child in the work force right now I want to make a recommendation to you. Please help that child to learn how to invest during this time of economic upheaval. The lessons learned will be priceless. Imagine if you were 18 years old and someone had taught you how to do just that. How much was BRK-A, L, KO, X, PG, CL, HON worth when you were that age? How much more would your net worth be today if you had put just 10% of your pay in those kinds of stocks back then? Yeah, I had the same reaction. Now imagine wrapping those investments in a Roth IRA. By the time your 18 year old retires at 65 there would be 47 years of  well invested dollars, tax free that will lead to a marvelous retirement.

 

If you do this your child can pass along your knowledge, wisdom and lessons learned from this market to the next generation. This is how the Vanderbits, Rockefellers, Carnegies and others have built family fortunes. Don't be left out.

7 Comments – Post Your Own

#1) On February 20, 2009 at 4:09 PM, TMFRosetint (93.27) wrote:

Meh. I'm 18 and started learning about investing when I was 16. Pencils2 is, I think, 16 now and started even younger. Young people aren't as stupid as some might think we are, we just need some motivation.

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#2) On February 20, 2009 at 4:10 PM, carcassgrinder (48.78) wrote:

You would better serve them teaching them Blackjack and Texas Hold'em.  They will encounter less crooks, and be playing a fairer game.

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#3) On February 20, 2009 at 4:22 PM, catoismymotor (< 20) wrote:

Carcassgrinder, Five Card Stud and Texas Hold'em are an honest trades.

HallShadow, good for you!

 

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#4) On February 20, 2009 at 4:23 PM, catoismymotor (< 20) wrote:

Carcassgrinder, Five Card Stud and Texas Hold'em are honest trades.

HallShadow, good for you!

 

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#5) On February 20, 2009 at 4:23 PM, socialconscious wrote:

I agree on the teaching investment early. In fact personal finance should be taught by grammar school; and investing first year of HS. No doubt building wealth through investing young is a good way to go. Respectfully your examples of Vanderbilts, Rockefellers and Carnegies built there fortunes on mostly other things namely shipping/railroads,oil and steel respectively. It happened during the "guilded age"1870-1890. Due to population expansion and the associated infrastructure expenditure. In fact Carnegie gave most of his wealth away and the Rockerfellers presently are mostly in real estate and trusts

http://en.wikipedia.org/wiki/Gilded_Age

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#6) On February 20, 2009 at 4:38 PM, catoismymotor (< 20) wrote:

Socialconscious,

The families I mentioned recognized an opportunity, weighed the risks, thought in terms of years and decades and have managed their money very well over the last 100 plus years. That is the point I was trying to make. You are of course correct about Carnegie. But just look at how well that hall he built has been doing over the years, not to mention the company he started. Those things are almost offsprings, no?

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#7) On February 20, 2009 at 5:10 PM, socialconscious wrote:

I understand that and with Carnegie you are correct and your post was thought-provoking to me. You are right that a portion of the all the family mentioned monies have had to have been in stocks.Not to be piddling but the Rockerfellers have been managing there money mostly in real estate which is the only better game than stock. Interesting they are tanking both at the same time. LET US AGREE( uppercase for importance and emphasis) personal finance should be taught by grammar school; and investing first year of HS for ALL. I think one we here at the fool should write our elected officials and advocate this. If the matter is of importance for families to teach there kids that it should be also school matter. Thanks for the idea. All best and excuse the typos at work.

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