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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

#301

Post by yaky »

ericyd wrote: post #84
yaky wrote: post #51

Be careful with comparing real-life things and experiences with a (virtual) number on a screen, especially for children. I used to know an adult who only cared about that number going up, despite making more than a comfortable amount of money. Live with parents, save on rent/mortgage, number goes up faster. Buy cheapest food, take leftovers from work-catered lunches, number goes up faster. Scam your way into being hi…

This feels like a severe anecdotal example which I'm not sure applies to most people.

It is definitely a single point, but that is who this post immediately made me think of.

And to be fair, investing does not apply to most people either.

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

#302

Post by linsomniac »

bluGill wrote: post #210
linsomniac wrote: post #192

Earlier quoted context omitted.

I've made a similar deal with my kids: Around 7 years ago I set up a "kid retirement" plan for them, where they couldn't touch the money until they were 18, but any money they put in I would match, and I'd also give them 10% APY with monthly compounding. My daughter aged out of it a couple years ago, she got something in the $100 range. Her brother still has a 18 months left, and I just recently rolled his over into…

That young you should be investing in a 527 education account not a ROTH retirement account. Education is a much better ROI when you are young than anything else. As you get older the value of education decreases. In generally the cross over is sometime in your early/mid 20s (Could be as young as 16 if you don't do well in school, or as old as 35 for things like medical doctor) If you don't live in the US you will ha…

I'm doing a 529 as well as wanting to set up the ROTH Note that you can also just take money from your other investments, deposit it into a 529, and then immediately pay yourself back for educational expenses you've paid for off the 529.

My kids have some 529 buffer, and we are paying for my daughter's school right now (though she's paid us back for the class she got an F in). My son, it's not clear that the typical school track is going to be the right thing for him, but we also have a 529 for him that I've been contributing to.

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

#303

Post by sebastiennight »

patapong wrote: post #101
roberdam wrote: post #60

Earlier quoted context omitted.

hopefully, “The first national bank of dad” remains solvent.

And can they take loans with negotiated interest rates and lock-in periods? Or invest in more risky products such as derivatives with a corresponding chance to lose all money? So much potential... ;)

Just add a $6-7CHICKENJOCKEY memecoin where they can put money in, see a 50% daily return for a random period of time, and suddenly have it go to zero.

Or even worse, in the tradition of these unclickable javascript buttons of the late 1990's, just detect when the finger is approaching the "withdraw" button and have the asset crash right before they can click!

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

#304

Post by b_e_n_t_o_n »

bossyTeacher wrote: post #104
brazukadev wrote: post #32

Earlier quoted context omitted.

is plain html different from single HTML? Because it is a single HTML that you can "Save as" and have one html with the working app.

When people talk about a single plain HTML file, it implies that all markup and code is contained in the file and no libraries are being used

No it doesn't

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

#305

Post by sebastiennight »

pmg102 wrote: post #193

You're giving a 15% growth rate with zero volatility? That isn't going to teach many important lessons. How about offering a range of rates with volatility increasing as rate increases. Then they can think about the benefit of guaranteed return vs the benefit of long-term growth, or a combination of both.

OP: I think introducing volatility (which you can just model with one percentage variable and a sinusoidal multiplier based on this: 100% volatility means if your "real" balance was going to be $100 today, it varies between $0 and $200 ; 10% volatility means you're fluctuating between $90 and $110) is also a good idea in teaching kids to refrain from the impulse of withdrawing the money just because today's daily gain is in the red.

Another add to the feature request list :)

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

#306

Post by bluGill »

sebastiennight wrote: post #278
lukan wrote: post #249

Earlier quoted context omitted.

And poor people just should eat cake, I know.. For real, I believe most 17 year olds on this earth do not have the funds to invest in education AND in a retirement fond, so there are choices to be made. (there are also the choices of creating social bonds and investing into activities together, ...)

The root comment was talking about investing 5% of their earnings. If you're making any kind of income at 17 (which admittedly is not everybody) then learning to save+invest a small portion of that can have incredible positive snowball effects beyond the compounding itself. I can't imagine a scenario where at 55 years old, you would miss the 5% of your summer income you invested back in high school. But I can totally…

Most 17 year olds have very low income and education goals. They will miss that 5% in a retirement fund because they are forced to take a student loan to cover that.

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

#307

Post by kelvinjps10 »

elictronic wrote: post #175
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.

My dad made a deal with me that, of doubling what I would save during the week.

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

#308

Post by lurking_swe »

lukan wrote: post #298
lurking_swe wrote: post #291

Earlier quoted context omitted.

I think this really comes down to how a teenager is wired and life circumstances. Some of us made all our close friends in college and dont even live near our hometowns anymore. My high school friendships are all “dead” so to speak. I think if a teenager is the social type, or they have a positive (non-toxic) friend group, then absolutely - spend the money! It’s an investment in your friends that may or more not pay…

"or just want to move on to the “real world” and graduate already. For those kids, invest!" In general sure, it really depends .. so invest in what? It can mean many things, like also saving for the drivers licence/first car to make that move away into a nicer worlds with better opportunities.

absolutely! It’s always a good idea to write down your life goals and major planned expenses. Then you can prioritize them as needed.

That usually helps answer questions like “if i invest X% of each paycheck into an S&P500 index fund, and put the remainder toward saving for my 1st car, i’ll have money for the car by date Y.”

And this skill translates to adult life really well. I find myself doing just that a couple times a year! Of course for some teenagers investing a substantial amount is simply not realistic…not every family is middle class after all.

One important reminder: inflation is no joke these days. I’d only recommend a savings account to a teenager for short term goals. Even if they are poor.

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

#309

Post by kelvinjps10 »

dingaling wrote: post #284
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…

> and let him pick a couple stocks to put some money into And yet we complain that corps today are too focused on their market valuation over everything else; customer experience, longevity, worker conditions, R&D are all being neglected in order to make the needle go up. 'Investing' in stocks in order to flip them when the price goes up is feeding this insanity. Teaching kids that this is perfectly rational seems se…

Bonds returns don't match inflation so long term you're loosing money to inflation, it might be better to spend it

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

#310

Post by toomuchtodo »

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…

Please share https://www.bogleheads.org/wiki/Getting_started with your son.
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