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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

#171

Post by singiamtel »

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…

I'm also in Switzerland, currently my approach is to invest in Vanguard VOO (tracks the S&P500) via Interactive Brokers. There is a way to setup auto transfer and invest every month

As a caveat your money will be in dollars and in American companies, which might not be what you want, but it's worked for me well so far

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

#172

Post by skeeter2020 »

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…

investment for many is more important than ever, because with home ownership out of reach younger people those with any savings are looking for alternatives. I just hope that - much like how you wouldn't buy and sell your house every day - they can resist the urge to be overly active investors.

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

#173

Post by koakuma-chan »

onli wrote: post #156
koakuma-chan wrote: post #152

Earlier quoted context omitted.

My bank also charges a trade fee which I think is bullshit, but at least it's a major bank. It's like $10 so doesn't matter all that much, not sure how much it would be for Switzerland, but you could just buy the stocks in larger batches if trades are expensive.

With the amount people usually trade $10 is a huge percentage. When you factor that in with the missed compound interest of that money you usually lose tens of thousands of dollars until retirement, likely more. There is no need for a big bank here, in Europe. If one of those regulated companies goes bankrupt the etf is still yours and transferable to a different institution. War in Europe is the remaining risk facto…

Not sure how it's like over in EU, but in Canada, at this point, I assume all fin tech startups are scam. Neo financial and wealth simple are definitely fucking scam. Major banks may suck but at least you get what you pay for.

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

#174

Post by philipwhiuk »

roberdam wrote: post #9
internet_points wrote: post #4

is 15% realistic?

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

It's less surprising Paraguay has 14.5% interest rates when you realise there's persistent 4% inflation (spiking to 11% in 2022).

Effective interest rate is something like 7-10%

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

#175

Post by elictronic »

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…

I started my daughter investing with a custodial account at 13. She put a few hundred dollars of her money in and I convinced her by matching her investment and told her if the amount ever went below the original investment I would backstop any loss.

Investing is all about that long term gain and slow growth. Having 10 years of experience after finishing college will do so much more than Robinhood for refrigerators.

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

#178

Post by fodkodrasz »

roberdam wrote: post #177
fodkodrasz wrote: post #170

But how do you charge the phone?

disabling wifi+data extend a lot the battery

The screen is the biggest consumer imho.

I mean of course I understand that the phone can be removed by the suction mount, but thus also defeats the idle infotainment concept.

Also seen screen burn in...

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

#179

Post by roberdam »

Waterluvian wrote: post #160

I had a very similar idea this summer. But my kids are 6 and 8, so I approached it using the video game approach. It's been an absolute smash hit and entirely altered the habits of doing chores in this home. It's been about 3 months and it's still going stronger than ever. The whole thing is a static page, driven by a Google Spreadsheet that Mom and I edit to adjust goals and track progress. https://ibb.co/RTw5sCDJ h…

great!, mobile app?

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

#180

Post by mchr3k »

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…

All the choices you have to make can be very daunting. I was very lucky to have a colleague at work who gave a talk at the right time in my life with some plausibly right choices.

In the UK I started out using https://www.charles-stanley-direct.co.uk/ and later moved to https://www.ii.co.uk/. I initially invested in https://www.vanguardinvestor.co.uk/investments/vanguard-life... which is a fund which is available on a bunch of platforms. These days I recommend https://www.vanguardinvestor.co.uk/ to some people as an easy and low fee way of getting started with Vanguard funds in the UK.

I don't know what the best trading platform options are in Switzerland - it looks like all of the ones I'm familiar with are not relevant to you.

The key thing is you want to minimise two types of fees: * Platform fees * Product fees

For example Charles Stanley Direct charge 0.3% platform fees, and https://www.vanguardinvestor.co.uk/ charges 0.15% platform fees.

Vanguard LifeStrategy® 100% Equity Fund charges 0.22%.

The bottom line is that there are lots of good choices, and the main thing is to make a choice and get started. You can always optimise/improve your choices later.

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