Ben RichardsParticipantAugust 31, 2020 at 8:37 AMPost count: 28
I am teaching your lessons to my 15 year old daughter, and I have given her some seed money to start investing with. She will only be able to get into a limited number of positions to start with. Which LI picks would you suggest? Thanks!Sean HymanKeymasterAugust 31, 2020 at 9:01 AMPost count: 3390
Our high dividend picks that are under the buy-at-or-under price in the portfolio.
Thanks for teaching her about it. It’s a tool and an edge that she can have in life that others won’t have. Wise of you to teach her so young.Leslie HarvathParticipantSeptember 1, 2020 at 8:58 AMPost count: 260
Hi Ben, just wanted to say we set up our 15 y.o. daughter back in April in the exact same way, and it has been a highly rewarding (no pun intended) learning and bonding experience for her (and us). I highly recommend working through Sean’s “Six Keys to Financial Success” with her along with watching a couple of basic videos. CAJ, E, and SAN are incredibly cheap right now.
We followed this exact advice from Sean at the time plus a defensive position (SLV was low back then), and I walked her through how to set up her Market & Limit buys and spreadsheet to place all her tranches. She started in 4 positions, but she now has a 5th position due to profits (16-51%) from selling 3 positions + 1/2 her SLV. We auto fund her account at the beginning of each month with 1/5 of her monthly allowance [to go toward her college savings (1/5 to tithe, 1/5 to gifts for others, 1/5 to non-basic clothing, and 1/5 to discretionary)].
Wishing you tremendous success as you embark on this wonderful journey together!Sean HymanKeymasterSeptember 1, 2020 at 9:52 AMPost count: 3390
That’s awesome advice, Leslie including some of the good picks to look at now. Thanks for suggesting my ebook. Yes, I believe it will be a great framework for her going forward. Oh, that every kid would read that book while still in mom and dad’s house. It would put them on a different trajectory if applied. https://www.ebookit.com/tools/pd/Bo/eBookIt/booktitle-The-Six-Keys-to-Financial-Success
Also, have her watch the 3 sessions around the book that I did at this church in West VA too. https://logicalinvestor.net/investing-basics/the-six-keys-to-financial-success-2/Leslie HarvathParticipantSeptember 1, 2020 at 1:28 PMPost count: 260
Oh! yes! agreed on the church series: we watched that, too–highly recommend!Sean HymanKeymasterSeptember 1, 2020 at 1:30 PMPost count: 3390
Thanks. It doesn’t teach the whole book but does teach a few important parts of it. So if any of you ever wanted to see me present that,…that’s the chance to see that. I’ve done it in a few churches so far.Ben RichardsParticipantSeptember 2, 2020 at 10:28 AMPost count: 28
Good advice, thank you! She is currently working through Dave Ramsey’s personal finance course. I’ll add the e-book to her curriculum for sure.Sean HymanModeratorSeptember 2, 2020 at 11:04 AMPost count: 2791
Dave has some good stuff. And you’ll find some stuff in mine that he never discusses. ThxBen RichardsParticipantSeptember 2, 2020 at 11:50 AMPost count: 28
Agreed. I think he is good for teaching the basics about money, saving, and budgeting – basically the behaviors needed to build a good foundation with money, and he helps people get out of trouble who have made bad decisions. But if you are past all that, you have to go somewhere else to keep learning. Enter the Logical Investor…
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