Warren Buffet And Investing For Kids
I found the video below on The Wall Street Journal website. Apparently coming this Fall, AOL will be featuring an animated series where Warren Buffet teaches kids about investing. (Pay attention kiddies!)
You Should Know
Smart investing is something you definitely want to learn, and it is REALLY important to remember that whenever you are ready to invest, KNOW AND UNDERSTAND your investment. Don’t put your money into anything if you don’t understand how it works. Also, contrary to what you will hear EVERYWHERE, there are no “secrets“! There are tips and strategies based on common sense but nothing more. If there was a secret to investing, it would be attaining knowledge, but really that is just plain common sense. Learn and you and your money will grow! Learn why your investment is better than any other by taking the time to investigate. Learn about Roth IRA’s, 401K’s, and Mutual Funds. Learn about how taxes and inflation affect your investment. Learn about risk, and why some investments are bad and what to avoid.
Are You Doing A Total money Makeover?
If you are, then you probably know that before you start investing you need to secure a 3/6 months of expenses in an emergency fund after becoming debt free. Baby step 4 says to invest 15% of your take home pay into Roth IRA’s and 401K’s. At this point you have an emergency fund, no debt except your house, you’ve started funding retirement and possibly college, and now you can focus on paying off that mortgage! Pretty soon you will reach your debt free potential and will be able to build wealth and give without restraint. Sounds great right?
Invest in knowledge before you invest your hard earned money!