My nephew, who's 17, is really enthusiastic about getting started with investing. However, teaching someone about this stuff feels a lot like teaching them how to drive, to be honest. I want to impart some wisdom to help him avoid making major mistakes, but it's tough because some losses are almost inevitable.
I've been advising him to consider buying SPY and QQQ, which are broad-based funds, as a good way to begin his investment journey.
But the key message I'm trying to convey is that if you want to make money in the market, you've got to know what you're looking for. I keep stressing to people that you should at least be casually reading whatever information CNBC posts daily. It's mind-boggling when my nephew asks me, "Hey Uncle
@Serious, what should I invest in?" I mean, seriously? (
)
How can people be that careless? If you're investing your hard-earned money, you should be keeping a close eye on it, like a hawk.
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@Rickdogg44 )
With that said, man I luv this shyt