When I was 16, I had saved about $5,000 from lifeguarding and doing odd jobs for neighbours, and I asked my parents if I could invest with their advisor. That money went into growth mutual funds, which wouldn't be my choice today. I'd use a low-cost index fund now. But watching that money grow between 16 and 20 made investing feel real to me. I'd worked for that money. Seeing it grow without picking up another shift made me want to put more in. Looking back, I'm glad I started, even though I'd choose a different fund today. I still had plenty to learn, but I was already building the habit of setting money aside and investing it. What was your first investment, and would you make the same choice now?
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15 Comments
M W Leach@mwleach58 · 5d
1970 - as a young teenager, I bought my first investment, a $1k Canada Savings Bond @ 7.75% interest. Things grew from there, and I haven’t stopped since.
Stephen Kostecki
@kostecs311 · 5d
I started an informal trust account that my 14 year old can invest in. He goes 100% XEQT and is pulling 12.9% As of Friday he’ll pass $5000 point! His goal is $30,000 by the time he is 18
RandomYaapping
@randomyaapping · 5d
Saved money from my internship (first year university) and put it all into $XGRO
Jay @motivated_jay · 5dEdited
My first investment when it came to stock investing was a long time ago. I was a minor as well. It was a fund. I heard about it through a friend. Asked my parents to set it up, and they did. That friend and I were hanging out, shooting the SHlT. It's closed to new investors now. I still have it, but that friend and I discuss other things now besides funds. Anyways, most funds I invest in now are closed to new investors, which is why there is no point in discussing those funds here. I think that everyone should have the option to create wealth, but a lot of people need to get their mindset right first before networking and investing in certain assets. Just being honest, folks
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