Now I don’t pay attention to my dad a lot, but there’s some advice that has resonated with me ever since. Before the summer of 8th grade, one of the pieces of advice that he gave was this, “start investing as soon as you get to high school”. Before that period in time, the times that I heard the words “invest” or “investments” was at the dinner table with my parents talking about their prospects for the upcoming quarter and how they were preparing for the upcoming quarter. As naive and clueless as my 8th grade mind was, I just paid no attention and kept digging at my plate…dumb way to go.
As soon as I kicked off my high school career in 2007 with the sound piece of advice still clear in my mind , I had my guidance counselor place me in a personal investments class. Before I knew it, I was hooked. In class, I was the first kid in the class, hand raised up asking questions that led to something new for the teacher to teach and answering back questions that most kids wouldn’t even know how to answer…needless to say, I passed with flying colors.
That summer, I got a job as a lifeguard at a local pool and started saving and investing in a mutual fund that my father set up for me. I was raking in $400 dollars for the entire summer. I was investing in a mutual fund, focused primarily in companies that majored in the health and pharmaceutical industry. I chose this mutual fund, because most of our national and global population is getting older, and are more likely than younger people to get the medical help they need through these health and pharmaceutical companies.
I think investing early into your high school career is the best thing you can do for several reasons: first, it gives you a chance to make more money off your principal amount that you put down. Second, even though retirement may seem light years away, it’s always a great idea to prepare for the future. If you don’t, you’re forced to live off your savings, which will only get you so far. Third, it’s not a bad idea to help out your folks and pitch in for college. I mean, it’s the least you can do after all the things your parents do for you on a daily basis.
