Advice for 15 year old investor?

Tuesday, April 8, 2014 , Posted by Ryanita at 2:57 PM




racoonsmit


I'm 15 and no one in this town hires until 16. I really need some cash, and I'm thinking about playing the Wall Street game. Does anyone have any advice? Much obliged. Thank you.


Answer
"The Wall Street game" -- well that's off to a good start. You "really need some cash" and "no one in this town hires until 16", so already the count is two strikes and a foul ball.

First, you need some cash to make cash if you are going to play "the Wall Street game".

Second, since you are not 18, the "age of majority" in many places, you will have to get some adult to open an account for you, and be responsible should you succeed in owing more than you put in (which you obviously have to borrow from some relative) depending on which "game" or which "play" you make. (Especially if the "Forex" stringers get you hooked on their program).

Finally, I stood at the docks in the Houston ship channel with a cousin as we looked over this ugly cruise ship, really old. A couple of much older guys slyly suggested that we pool our cash and get in a poker game, "Then you'll win enough to buy tickets and play still more poker all the way to Mexico." I may be dumb, but I'm not stupid, so I declined the offer because I fully realized that he just wanted a laugh and my spare cash, there was no way I was going to win at his game.

If Wall Street is an easy money game, then you just don't understand how it is played, sport.

Cultivate a little patience and maybe visit the library and read up on it in the meanwhile. Good luck.




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