Tuesday, January 1, 2019
Invest in items that do not depreciate
Try telling a young person something about money and they roll their eyes in contempt. "Things are different now, pops."
Then, in the next paragraph they will tell you how much our generation screwed them over and how they have no opportunities.
They cannot see the linkage between failing to listen to sound advice and their dire financial straits.
For instance: Why would anybody invest thousands of dollars on tattoos? Why not jewelry? Jewelry is a walking investment in precious metals. They can be pawned when times are tight.
Or the fixation on having the newest smartphone. They might be the only thing that depreciates faster than a new vehicle.
Young people will point to the recent drops in the stock market as a reason to not invest there. Yup. That's right. It went down. You can only get 90 cents on the dollar if you bought at the peak. How much can you get for that tattoo?
And if investing in stocks that go down in value bothers you, here are some hot stock tips:
From a full service broker
One that might appeal to young folks