(01-08-2022, 10:03 AM)fenders53 Wrote: As I oft mention I watch a lot of youtube financial channels. It's been so painful watching content providers make literally $500K (or even a million) to lead the kids off a cliff with speculative plays. You couldn't lose in 2020 and they gave it all back starting about 9 months ago. Averaging down on trash with their last investment dollars, or worse yet they even borrowed some money. If they were lucky they bought some F, but mostly just a port of junk that won';t sniff a profit for years if ever, and diluting the followers into oblivion. And I act like this scam is new. It isn't.
I Look at these YOLO, FOMO, (Had to ask my youngest nephew what the acronyms meant) Diamond Hands comments I occasionally come across , and mostly just shake my head. Thank the Lord with the help of our collective family we have both my nephews started on the right path with savings, investing, use of a credit card, balancing of a check book etc...
As a family we started early teaching them. Even their Mimi (Grandmother) got involved and helped guide them to set a solid footing. I feel sometimes for some of these young kids that just don't have that level of support. Sometimes it does indeed take a village!!.
- Scoot