Las Vegas recently blew off all pandemic restrictions. If I was vaccinated, I’d love to go & join in the fun. But that’s not happening yet. Here, we just got partly released from our tight community lockdown. 🙄
As I was dreaming of a Vegas vacation, I got a message from my kid. He remembered that I’d sent him stuff on investing, but he couldn’t remember where to start. Fantastic, I had finally gotten through to him.
Next message read … “What do you think of Bitcoin, Dad?”
Okay … maybe not! 😆
Hey, I have nothing against buying crypto (especially when you can’t go to Vegas! 😜), but that wasn’t the message I was going for when I was trying to encourage them to save & invest.
I’m no expert, so I played it safe. I went with what Jack Bogle & Warren Buffet have been telling us amateurs to do for years … suggested they look at buying a low-cost index fund. Through a low-fee or no-fee transaction brokerage. And hold it for a long, long, long time. Had I done that myself back at their age, I’d be spending a lot more time in Vegas now! The big advantage kids have is time. Time allows the magic of compound growth to do its thing. A very special thing.
But I’ll have to save that for the next post or they won’t take the time to read this one. They wanted me to send them something in under 280 characters. What’s that about!?! Maybe if I can keep these posts down to a two-minute read, there’s a chance they’ll read them! 🤞🏻😉
Warning & Disclaimer … I’m a Dad, not a financial advisor or a financial planner. I am not a tax advisor or a lawyer. These posts are for entertainment only & are not investing advice. Do your own due diligence & seek professional advice before making any decisions on saving & investing. This content relates to Canada but, wherever you are, check the rules with your own advisors before making any financial decisions.