Almost everyone at one point or another has filled out some type of financial statement listing assets and liabilities. This process is always better when the former exceeds the latter. While banks look at numbers and net worth, the thing people truly value above others tends to be family, friends and loved ones. In our opinion, any investment made in any of those intangible areas is always going to produce returns that are off the chart.
I had the unique opportunity of growing up around trading. My father has been a futures trader since the early 1980's so it has always been a part of my life as well. I remember writing down ticket numbers for him on trips in the car when he called orders in over a 3 pound cell phone that was "state of the art". Family vacations involved frequent updates on the market and positions so the trading was simply a part of life. About 7 years ago when I told him I was going to be buying an engagement ring in the next few months he said, put the cash in AAPL, wait a while and then you will be able to buy the engagement ring and still have the cash… the price of AAPL at the time was around $40. I opted to go for the ring and am happy with my decision...as they say, you can't expect to have your cake and eat it too. Needless to say that is a story he tells often (especially now that AAPL is over 700).
One Christmas when I was around 10 years old, my father gave me the opportunity of having a "stocking stuffer." He told me that I could pick three stocks and he would buy me 10 shares of each of them. I still remember to this day the three stocks chosen as well as the prices paid. As a 10 year old, I loved McDonald’s so naturally that was one of the three stocks chosen. I bought 10 shares of MCD at $35/share way back when. The other two stocks have gone on to a better place so MCD is the one I still talk about (funny how that works). My parents were always generous with gifts under the tree around Christmas time and birthdays. The funny thing is that looking back, I have trouble naming more than 3 gifts or toys I might have received at a young age, but I can still tell you the three stocks in a split second. The bottom line is that this small exercise piqued my interest in the stock market and began a path to my current career in the industry which led to the launch of this website in 2011.
I have been extremely fortunate to learn from so many different traders that it would be hard to list them all. One thing I have noticed is that traders are willing to share and help other traders, which is really the premise behind the free education provided at the TradingPub. I wanted other traders to have a medium where they could share and give back to other people. Over the past year we have hosted over 120 traders who have done just that and we have many more great sessions coming your way.
Through the TradingPub and my other experiences, I have had the opportunity to interact with thousands of traders either in person or at online events and one of the common things I have heard time and time again is, "I wish I had the opportunity to learn all of this at a young age like you." I have even met several people that have worked hard to get their children interested in the markets like my father did for me at a young age.
One of the great companies we have worked with, that is also dedicated to changing the way traders think, has recently launched a new initiative focused on educating young people about the markets as well as other financial topics. tastytrade, the fastest growing online financial network, recently announced the launch of a new program, Chasin' Warren, a monthly video segment for 8 - 14 year olds to help spur interest in stocks, markets and investing for this age group. If any of you know of tastytrade, you know this program will be long on education and personality which means your kids will not only learn but hopefully enjoy it as well. I promise you will have a much better chance of getting your children, grandchildren, nieces or nephews interested in the markets by watching this new production than handing them a Wall Street Journal or turning on CNBC. If you would like to view the first episode, you can do so by clicking the video below:
If you have the opportunity, I think it would pay dividends to take the time to open up a small account for your children or grandchildren and have them tune in to this new program. By opening UGMA/UTMA accounts, parents will be able to buy stocks and allow the kids to track, analyze and learn as the portfolio is built. The program will air on September 18 at 7:00 pm central at tastytrade and then be available at chasinwarren.com. If you would like to open a UGMA/UTMA account to gain access to two years of tastytrade membership as well as one free stock trade per week which will include this outstanding education for your children, click the link below and choose to open a tastytrade "kids UGMA account"
Founder of TradingPub
“Trade, Talk, Learn – Cheers to Success”
Check out our Breaking News Tab on facebook
Risk Disclaimer: Past performance is not indicative of future results. Futures trading involves substantial financial risk. Views of guest commentators do not represent those of TradingPub.com. Article intended for educational purposes only and not meant in anyway as a solicitation to buy or sell certain securities. Please consult your personal financial adviser before using this information for your own trading purposes.