One afternoon when I was 14, my father did something crazy.
Right in the middle of an episode of Saved by the Bell, he unplugged our TV, dumped a pile of books in my lap, and dropped this bombshell: If I wanted to go to college, I'd have to start learning about investing right then and there.
Let's just say reading a bunch of investment guides didn't hold a candle to watching the lovely Kelly Kapowski strut her stuff. But the TV wasn't going back on until I finished them, so I did -- without paying the least bit of attention to anything I read.
Hindsight is a cruel 20/20
Thankfully, even though I blew off the idea of investing, dear old Dad didn't. I ended up with a college degree and without any student loans. But imagine if I'd actually started investing on my own ...
I could've amassed a small fortune by simply paying attention to what was happening around me, doing some research on companies I knew and loved, and buying those companies' stocks instead of their products.
The most depressing part
Back then, I wouldn't have thought twice about blowing money on sneakers, a computer, the latest fad in clothing, or trendy junk food, but it never occurred to me to buy stock in my favorite companies. Big mistake.
| When I Was 14, If I Had Invested $1,000 In ... | Right Now I'd Be Sitting On ... |
|---|---|
| Nike (NYSE: NKE) | $4,371 |
| Dell (Nasdaq: DELL) | $21,043 |
| American Eagle Outfitters (NYSE: AEO) | $59,111 |
| Hansen Natural (Nasdaq: HANS) | $400,900 |
It's never too late to start investing, but the longer you wait, the less money you'll be able to earn. That's why it's incredibly important to introduce your kids to investing while they're still young.... read the rest of the article here.
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