Today’s episode answers a question form George from the UK on how to get started as a teenager in investing.
First of all I want to congratulate George on his success at 19 and jumping into the world of investment and being a young entrepreneur!
Most of the teenagers I know are consumed with the latest app features on their smart device and their social media account statistics they forget what life is even about.
So George my hat’s off to you for even listening to the realwealthwhisperer.com and becoming a fan.
To start today’s episode…I want to share a story about a guy name, Tim Olsen
Tim bought his first stock when he was 8. His parents set up custodial accounts for both of their children, believing that outside of a savings account, investing in stocks was the best way for their children to start building wealth.
Tim started with PepsiCo (ticker: PEP) because it was relatable. “he started with three shares, and vowed never to sell the stock because he’d be really curious over the long run to see how many more shares he could accumulate through his gains long term.
As time went on…With his interest piqued, he immersed himself in financial literature, reading Peter Lynch and Benjamin Graham along with Warren Buffett’s letters to shareholders of Berkshire Hathaway (BRK.A, BRK.B). By the time he was 13, he authored the book, “The Teenage Investor: How to Start Early, Invest Often & Build Wealth. Which I’ll put a link to in the show notes
The morale of this story to me and my advice for any young investor is to invest everything you have into improving your financial literacy and financial skillset at as young as possible. This guy Tim started when he was 8 years old, so anybody listening out there,, what is your excuse from compounding your wealth, no matter what your age is?
There is no substitute for acquired knowledge and no substitute for leveraging on to those who have the skills and talent to help grow your future. Think about back in the early 1900’s do you think Henry Ford the creator of the modern automobile created his empire all alone? Of course not he leveraged the skills and knowledge of people far smarter than him to make his accomplishments.
And for a more recent example just think of how many divisions and employees Google has. In fact we all know they have a campus of individuals who are among the most talented people they can find to create the system and products the share with the world.
So I suggest you do the same, always seeking to increase your own personal skillsets towards financial freedom or leveraging the mentors and people you can tap into. Seek their knowledge even if you have to pay them or not, By the way, it is an investment, if you’re gaining something from it. It’s not a fee. It’s a cost with a benefit. Just like when you buy a home as an investment. It comes with a cost, but also with some benefits. . Always be looking to provide clarity into whatever you are passionate about, and then go for it.
If you have any questions about this and you would like to reach out to me send me an email at questions@realwealthwhisper.com
By the way this is another good time to mention that if you or someone you know has a question about life, love or sustainable wealth, go to the realwealthwhisperer.com home page and hit the “record a question button” on the top or side of the page, then scroll down the page it opens to where it says start recording and simply speak into the mic on your desk top or smart device. or click here: www.realwealthwhisperer.com/record-live-question/
If I can be of any guidance specifically, please feel free to reach out to me. Reach out via email at realwealthwhisperer.com Go to the contact us at realwealthwhisperer.com page and send me an email directly from there
Check out all the details of this episode to learn more.
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If you haven’t already please remember this show is a fanarchy which means your questions are what drives this show, so keep’em coming and record your live question at the realwealthwhisperer.com just hit the record button and follow the script, it’s that easy
Real Wealth Whisperer.com sample Q’s script:
Hi this is {your name} from {your Company} (if you would like it mentioned on the show), in {city where you’re from}
Note: if you do not have a company, no worries! Hi this is {name} from {city you’re from}
Today I have a question {on or about}…. {life} or {love} or {sustainable wealth} My question is:
{how, who, what, why, when, where………….?}
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