My ‘You Panicked‘ post got a lot of positive feedback yesterday.
It seems a lot of parents agree and have also been trying to get their kids investing.
I liked this idea from my friend Yaron in Israel:
For finding the afikoman at Passover dinner this year I gave my 12 year old son $10K to invest in anything he wants for the next 60 days, at which time I get my $10K back or absorb the loss. He’s on fire. Spends his days studying companies and even got his cousins involved in the research offering them a piece of his earnings in exchange for their work. These are different times. In a good way.
With Rachel and Max I have always made sure they knew the brands we were investing in which is why I created 8 to 80 list. I started it for them so when they finally took control at 18, they could see large gains had accumulated in the stocks like Nike, LULU, Amazon and Apple and they would appreciate how powerful investing in great companies over time could be. They have not sold their long term winners and now at 21 and 22 they have some very big long-term gains and want only want to invest the great products/companies they live with everyday.
Financial planner Justin Smith had a great recommendation. His 12 year old has been asking more about buying stocks. So he downloaded ‘Early Bird – The Power of Investing Young‘ by Maya Peterson @findingmoats & “assigned” it to her. She just sent her dad her 5 biggest takeaways! They are:
She’s reading ‘Lighthouse‘ by Maya Peterson next.
Have a great weekend.