Your Questions About Investing Tips For Kids

Charles asks…

I need help deciding what kind of business to start.?

Here are some details about me: I am a 21 year old female living in Pittsburgh, PA. I just graduated and received my B.S. in Secondary Education, but can’t find a job teaching. I am now working on my 2nd bachelor’s in Accounting. I work full time for Merrill Lynch doing collections on past due mortgages.

Here are my interests and experience:

Although I am only 21, I have a lot of work experience in a wide variety of fields. I have worked as a manager in fast food for about 4 years, several administrative jobs, fitness instructor, 2 years call center experience, I am very good with kids of all ages.

I want to invest my money into a business and I just need an idea – not sure what I want to open. My family are all very experienced in a wide variety of fields and are willing to help.

My ideas are:

A daycare or some type of child services business
Food/Restaurant

Any other ideas? Or any tips?

John answers:

The very first thing to approach this situation is to spend a few moments to figure out what excites you or what moves you. The next step is to fingure out how you can make some money doing it.

It is important to do something that you enjoy because in starting a business you will be doing it most of your available time.

Since you are studying accounting (my field) the reference site may be an option.

Michael asks…

Why are more funds spent on the dumb kids than the smart kids?

At my son’s school the slowest 20% of the class has a lot more spent on it than the fastest 20%

Wouldn’t it make sense to put a lot of funds in the kids trying the hardest/the fastest learners, because they’ll utilize the resources they’re given the most and make the dollar actually stretch farther that way? It seems strange to invest so much in the assets that don’t even care to try…

Also, there are a lot of REALLY really dumb kids in his school, 11 years old, who do stuff like try putting paper clips in electric outlets, and eating paste, so they spend huge amounts of class time on a fool’s safety tips for the whole class- not just the idiots. It’s a waste of time. And the whole class works at the pace of the slow-mos, not the fast kids.

Is there any legitimate reason this has been argued the best strategy? All this “no child left behind” when some kids are trying to slow down the whole trail by sitting, so the other kids have to drag them?
Jalapanio, why don’t you put your dumb kid in a private school that’s slow enough for him instead?

And saying “the smart kids don’t need extra help” is moot, they’re being deprived help and being forced to act as private tutors for slower kids often instead of reaching their full potential at the time in their lives when they have the highest learning ability.

John answers:

Sounds to me like they should have spent more money on you. Children who can not keep up with the pack need the assistance, those who keep abreast of the curve do not need the “extra” help.

I don’t know where you came from, but this is the USA where children are all “assumed” to be “equal” the MANDARTORY public school system is the key to this principle.

I was one of those “dumb” kids when I was in elementary school. I was a dyslexic (before anyone knew what that was) couldn’t read until I was eleven. Luckily my parents had the money to place me in a special school where I learned how to read. Went on to get my masters in education, and due to this “extra help” I have never cost the other taxpayers a dime, and I have contributed my share to the communal pot.

PL 94-142 (Now called the Idea) was passed in 1974. It insures that ALL children receive a Free Appropriate Public Education. This includes children with disabilities. Far from being a “liberal” give-away-of tax dollars, it (Signed by Richard Nixon) has insured that many many children go on to productive lives instead of rotting (at taxpayer expense) in some institution, or sitting on the welfare rolls.

Get your head out of your butt, and look at the reality.

Donna asks…

Tips on a young investor?

If you’d call me that.

alright this is gunna be long. Anybody who complains about that stuff. Just leave now cuz I don’t want any of those dumb comments.

Okay here it goes.

I was the normal kid, buying stuff like games and food and all that. hanging out with my friends, comparing stuff we got. (mostly new Xbox360 games) lol. Anyways then my gramps shows me this book. It’s called Rich Dad Poor Dad. Now that book changed my whole perspective. I mean it really made me think. Next, he gave me that book Who Moved My Cheese. That also was pretty good. Then we started talking about investing. For example I goto Investopedia.org for fantasy investing. I learned more vocab about monetary terms by talking to him. Now I’ve played this game Real Estate Empire, and it also showed me some stuff about Real Estate. The author of Rich Dad Poor Dad also mentioned it quite a few times. It’s more complicated, but does interest me. I also know that there’s some issues with the market because of Sub
Prime Mortgage Rates and what not. All this stuff is really interesting. It also amazes me how little we learn in school (I’m 16 btw). about the subject. I mean honestly. After everything I’ve learned, it really seems to me, like school is just preparing the middle class to get middle class jobs. And not so much preparing them with knowledge of money. I mean I knew nothing about this from school. It really seems like they’re just making us America’s labor force. For low paying, and middle paying jobs. I don’t wanna be one of those guys, I wanna achieve financial freedom. Know here’s my question.

1 ). Why do schools not teach anything about this kind of information. Which is really invaluable.

2 ). Is college a good idea for an investor.

3). What’s a good way to make a good start. I forget the term, it’s your money you saved up to start investing.

4). What’s a good amount to start with.

5) Is investing in Stocks a good choice to start investing in.

6). Any further advice. Thank u.
One more thing I’d like to note. Which is really funny to me.

In Rich Dad Poor Dad. The author say’s in the beginning. Something like, I’ve had 2 dads. One went to college and received all these degrees and what not. The other one didn’t pass 8th grade. One achieved millions, giving a million $ business to his kids, and no debt. The other died without a penny in his wallet, and debt to his kids.

In my old way of thinking, I’d have thought the one who graduated college was the millionaire. Boy was I suprised when he said the kid who didn’t pass 8th grade was the millionaire.

That’s why i’m hesitant to goto College. i don’t want my student loans lurking over me my whole life. It seems like a huge liability. I guess it would even itself out with getting a high paying job. But I don’t want to get into the rat trap.
When I’m school classes, I mean mandatory ones. I beleive that would be more important then something like English on its 4th year.

John answers:

When i was in high school, i had a class (1970???) that talked about how in the future (now) we were going to use one card and we would be able to use that one card to buy items(debit card??) sometimes your elders can give you good advise, but sometimes taking a chance at a young age won’t hurt. Even if you invest a small amount, you have at least 20years before you even understand what life has brought you. Before you know it life will catch up to you and you’ll see how some small investment became a big investment. I didn’t know what i was doing and someone helped me select a company and after 30 years, I have money coming to me and I’m close to retirement, so it has worked out for me.
You are young enough to trust your elders………….
Go for it

Linda asks…

Audition for The Conservatorium High School, any tips?

My kid would like to enter the Conservatorium High School in Sydney. It is a HS with music speciality in the past. However there seems to be a new academic focus right now. That means it will only take kids who are both academically gifted and musically gifted. My kid seems to be musically gifted but we only thought anout music as “for pleasure”. Therefore we never asked the child to invest energy into music with the intention to become a musician. We never asked our child to learn 2 instruments or dwell into difficult music theory levels. Now we would like to our child to apply to enter this HS at grade 7. We have no idea of their expectations about musical skills of kids at age 11. Any one could enlighten us?
I suppose WE means all of us including the child. We never thought of music as a profession because the kid was a very high calibre academic performer and a gifted visual artist who happened to also get high distinctions at music grade exams. As we never thought of music seriously, the kid only learned violin FOR PLEASURE. Our child only ever does what he likes to do, never been forced to do anything (apart from eating and sleeping). Music teachers said our child had “the goods”.

John answers:

Your question can be quickly answered and with authority by the School. Do not trust to outsiders or even former students to answer your questions.

Steven asks…

Need help with my 401k?

2 part question I am 27 years old and unless I hit the lottery it doesn’t look like I will be retiring soon I do not know much about investing other than I am supposed to do it and like everyone else I am losing some money I have heard I should stay with it as the market will adjust long before I can retire but then I have also heard to pull out and use the money to pay off debt or use if needed If the answer is to stay I would also like some tips on what if anything I need to be doing to minimize any loss. My employer matches 50% of the first 6% in contributions which I give 6%. I am losing a little over half my money a month in a Freedom Fund that looks diverse but I wouldn’t really know. I also have a little bit of money put away for the kids that I was going to invest before the market turned? Any tips or suggestions on investing that?

John answers:

Stay in at 6%. You get 9% buying power with what the boss in adding.
Yes you are losing money on paper, however as long as the companies you invest in do not disappear totally, you are just buying low and holding onto the stocks till they grow. You will own more paper stock at this rate then when the prices were high. Of course all of us are hoping none of the companies we are invested in go bankrupt. At worse if they get bought out or merge with a more powerful company we win – after a while.

I went thought this same thing in the late 90’s when the electronic and telcomm market fell. The bright side was the portfolio re-grew. The bad side is the job market and basic money market stinks worse then ever before.

Hang in there.

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