My 12 year old son has been playing stock games on his phone and finally asked me if he can invest with real money. He had $1,000 sitting in his savings account. So I asked him what he wanted to buy and he said a share in Tesla and 4 shares of Apple. In about 2 months he’s made $150 on his investment. Not a whole lot, but for a 12 year old with no job, that’s a pretty good ROI. Today he was talking to his 24 year old uncle who said he should sell it and buy something with the profits. My son responds, I just bought it and the capital gains tax is 35% if I sell it less than a year.
Then he goes, but it’s not smart to do that. I’m going to keep it there until I’m old and then went on about Apple and it’s stock history, then he goes into explaining splits to his uncle who is just sitting there asking him all these stock questions. My sons understanding of the stock market is still pretty elementary, but he’s already way ahead of his uncle. Who is right now asking my son for stock advice as he’s opening an investment account.
I wish someone would have taught me about stocks when I was 12 years old. I’d be doing a lot better in life than I am now, all I can do now is teach my kids.
Submitted December 23, 2020 at 12:10AM by K1llerM1ke83 https://ift.tt/3mELyvP
