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Show HN: In a single HTML file, an app to encourage my children to invest

roberdam.com

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Re: Show HN: In a single HTML file, an app to encourage my children to invest

#121

Post by whoooboyy »

sureglymop wrote: post #119
linsomniac wrote: post #102

There's an awful lot of negativity here, but as someone who's 55 and has earned a good wage since I was 17, I really wish I had taken investing more seriously from the very beginning. While I knew of compound interest, I really didn't understand it until like a decade ago. If I'd started putting 5% of my money into a target retirement plan from 17, I'd be retired now. As it is I'm not doing badly, but I really wish I…

You say that now but as a young person with a decent income and no family or many responsibilities it's hard to even know where to start. And I'm not even talking about what to invest in, I'm already confused at which platform/bank/whatever to do it through. The "meta", if you will. I just want to invest the 70% of my salary I don't need every month and not think about it for 40 years but how? Maybe an important deta…

Read "The Four Pillars of Investing". Basically index funds, diverse whole markets, leave it alone and watch it grow.

I did this at 22, and that seed money has grown a ton.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#122

Post by triceratops »

Jommi wrote: post #89
roberdam wrote: post #50

Earlier quoted context omitted.

11% is a safe interest rate on my country (py), I just got a 14.5% offer for local bonds BBB+

the issue is your local currency will lose its value over time

Is there a (government-issued) currency that doesn't?

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#123

Post by UK-Al05 »

exitb wrote: post #109
pickleglitch wrote: post #45

Earlier quoted context omitted.

He's teaching them the most important lesson of living in a capitalist system: wealth comes from having money, not from earning money.

If he's not able to also provide them with a sizeable initial capital, this lesson is also completely irrelevant. No one becomes really wealthy by investing savings off their modest salary.

I mean you can literally do that. And get wealthly. It'll just be a meagre existence up and until retirement.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#125

Post by ashleyn »

linsomniac wrote: post #102

There's an awful lot of negativity here, but as someone who's 55 and has earned a good wage since I was 17, I really wish I had taken investing more seriously from the very beginning. While I knew of compound interest, I really didn't understand it until like a decade ago. If I'd started putting 5% of my money into a target retirement plan from 17, I'd be retired now. As it is I'm not doing badly, but I really wish I…

Sometimes I feel like I started investing late at 26. Already, six years into the best decade for compounding in your life. But such was the power of compounding that I had reached a substantial net worth by age 35. So even just nine years can make such a tremendous difference even into later ages. It's never too late to sock money away.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#126

Post by loloquwowndueo »

koakuma-chan wrote: post #118
alxmdev wrote: post #110

Earlier quoted context omitted.

Probably, because everything would collapse if everyone was an "investor" and fewer people did actual work to keep the world going.

There are people who don't invest? Do they just keep their retirement savings in cash? I imagine for most people either the government or their employer invests for them.

For most people it’s “what retirement savings?”

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#127

Post by koakuma-chan »

sureglymop wrote: post #119
linsomniac wrote: post #102

There's an awful lot of negativity here, but as someone who's 55 and has earned a good wage since I was 17, I really wish I had taken investing more seriously from the very beginning. While I knew of compound interest, I really didn't understand it until like a decade ago. If I'd started putting 5% of my money into a target retirement plan from 17, I'd be retired now. As it is I'm not doing badly, but I really wish I…

You say that now but as a young person with a decent income and no family or many responsibilities it's hard to even know where to start. And I'm not even talking about what to invest in, I'm already confused at which platform/bank/whatever to do it through. The "meta", if you will. I just want to invest the 70% of my salary I don't need every month and not think about it for 40 years but how? Maybe an important deta…

Your bank probably has an investment platform, you can just use it, it doesn't matter. My portfolio is 70% XEQT 30% CASH.TO—don't bother with anything else.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#128

Post by whoooboyy »

koakuma-chan wrote: post #118
alxmdev wrote: post #110

Earlier quoted context omitted.

Probably, because everything would collapse if everyone was an "investor" and fewer people did actual work to keep the world going.

There are people who don't invest? Do they just keep their retirement savings in cash? I imagine for most people either the government or their employer invests for them.

Incredible HN post. I'm hoping it's because you are from a country where people are generally well taken care of.

Yes, there are people who don't invest. Where do they keep their retirement savings? 40-50% of Americans, at least, simply have no retirement savings! Most people in America aren't earning enough to put away a meaningful amount for retirement. It's going to be grim as boomers and millennials hit retirement age and have to keep working.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#129

Post by triceratops »

ericyd wrote: post #80

Financial literacy is a gift, and absolutely omitted from standard education, which is unfortunate. That said, I don't think knowledge of investment gets you very far if your job pays subsistence wages. I worked for a popular fintech focused on personal investment and their narrative was essentially "financial freedom through investment". I think it's important to understand that even the most sophisticated knowledge…

I don't know what you mean by that. They teach compound interest in every school. Basic economics too. Anything more advanced is going to be lost on most kids, because that's most adults' level of financial literacy too.

The problem is many kids don't have much money to save or invest. Or if they do, real banks kinda suck when you only have a kid amount of money ("Here's the 0.2% interest on your $37 balance"). So they can't apply what they learned. An app like this, backed by the Bank of Mom and Dad, is great for practice.

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