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Reply to "Single financial platform for teens?"
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[quote=Anonymous]He should be mostly in single stocks in order to learn. Too young for an ETF 100%. My 11-year old know that Roblox went from $36 to $120 within a year, while funds added maybe 25%. Very different views of investing after knowing what a stock can do versus funds. Checking account is useless. Get him your credit card and you can see how he spends. There are mock apps for investing. Have him read books and watch finance videos. Open the accounts when he is 18. No need to have his name and possibly SS# out there now when identity is easily stolen. Learning is more important than early investing. My last two year investment returns would take an ETF 14 years. If his savings account is not earning 11%, he is losing money. You both know that, right. He needs to be in hard assets, not cash. His money is melting in a savings account, because of the money printing. Have him read the Lyn Alden's Broken Money, but there are many other good ones. Peter Lynch is good. [/quote]
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