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

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

#371

Post by linsomniac »

nonethewiser wrote: post #312
linsomniac wrote: post #299

Earlier quoted context omitted.

Naw, dawg, Imma try and try to encourage them to get started early and put a little bit away, because it's good for them. I'm acutely afraid of a scenario where they have bad habits and anything I leave them they flush down the toilet because of those bad habits. I'm hoping to leave them plenty, but they need to be in a position to not waste that for it to be worth anything.

Yeah you can do that. Doesn't prevent you from setting something aside for them and giving it to them if and when there is a good time.

With the way housing prices are, it doesn't seem like I have an option NOT to. ;-/

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

#372

Post by unmole »

pinkmuffinere wrote: post #219
koakuma-chan wrote: post #118

Earlier quoted context omitted.

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.

Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. The rest sometimes buy houses (which I encourage because it’s better than nothing), but otherwise are planning on social security, pensions, and lump-sum savings to cover their retirement

> Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market.

~62% of US adults own stocks: https://news.gallup.com/poll/266807/percentage-americans-own...

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

#373

Post by unmole »

yaky wrote: post #301
ericyd wrote: post #84

Earlier quoted context omitted.

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.

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

Why doesn't investing apply to most people?

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

#374

Post by RealStickman_ »

array_key_first wrote: post #353
RealStickman_ wrote: post #117

Earlier quoted context omitted.

This type of investing isn't about day trading following the latest hype. It's about putting some surplus money to better use for when you need it in 10-20 years.

That's even worse, because the entire point of the stock market is supposed to be that investors choose where to put their money based on how the company is performing and what they're saying. I.e., you vote with your wallet, and the market therefore punishes bad behavior and rewards good behavior. If everyone is passively investing, that no longer works. Then it's not even a market. We don't even know, for sure, if…

Investors are obviously bad a choosing where to invest. See any widely overvalued company

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

#375

Post by pinkmuffinere »

unmole wrote: post #372
pinkmuffinere wrote: post #219

Earlier quoted context omitted.

Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. The rest sometimes buy houses (which I encourage because it’s better than nothing), but otherwise are planning on social security, pensions, and lump-sum savings to cover their retirement

> Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. ~62% of US adults own stocks: https://news.gallup.com/poll/266807/percentage-americans-own...

Most of my family is farmers or missionaries, and I bet those groups are less likely than most to own stocks.

Also, 'owning stocks' vs 'investing' feels different to me. My brother will go all in on tesla for one year, and then pull out and just sit there until he has another somewhat-random impulse. Likewise, my dad used to put all his money into some index funds for the 30 days leading up to Christmas, because 'the government always makes the stocks go up during the holidays, to keep everybody happy'. They count as 'owning stocks' (at least sometimes), but I don't feel they count as 'investing'.

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

#376

Post by pfannkuchen »

triceratops wrote: post #191
recursive wrote: post #145

Earlier quoted context omitted.

Where do you send your money to invest? What is a stock? This is the type of information missing.

> Where do you send your money to invest? If they had taught you that in high school 10 or 20 years years ago, it would be outdated by now. People used to save in savings accounts. Then 401ks. Then individual brokerage accounts with index funds. Now crypto or whatever is hot using some fintech app. > What is a stock? That's fair. It can come up in basic economics but not always.

I think an understanding of why those systemic changes happened would go a long way in preparing for what’s next.

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

#377

Post by pfannkuchen »

linsomniac wrote: post #192
elictronic wrote: post #175

Earlier quoted context omitted.

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.

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…

Is your daughter feasibly going to make “real money” in the future? I personally look back on working a job in college as a waste of time and attempting to save money then as a waste of effort. Should have just taken more debt, the amount I did take turned out to be trivial to pay off and double or triple wouldn’t have been that bad. I feel like there are two worlds employment wise, and some advice leaks between them which ends up being maladaptive in its new environment.

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

#378

Post by TeMPOraL »

triceratops wrote: post #185
danielbarla wrote: post #141

Earlier quoted context omitted.

While I certainly had the _concept_ of compound interest taught to me at some abstract mathematical level, the application to real life practical financial scenarios was definitely not done [1]. Economics as a whole was an optional subject. I think schools and curriculums could do a whole lot better in representing this important facet of life. More broadly, I often feel that "applying all that math you've learned to…

> the application to real life practical financial scenarios was definitely not done Of course it was. You can't teach compound interest without referring to money or banks. That's the whole point of it. Otherwise it's just multiplication.

Not only you can, I still don't see how the financial "magic of compounding" isn't bullshit for vast majority of people - you can't really make significant money this way in reasonable time spans (5 years rather than 50).

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

#379

Post by TeMPOraL »

array_key_first wrote: post #353
RealStickman_ wrote: post #117

Earlier quoted context omitted.

This type of investing isn't about day trading following the latest hype. It's about putting some surplus money to better use for when you need it in 10-20 years.

That's even worse, because the entire point of the stock market is supposed to be that investors choose where to put their money based on how the company is performing and what they're saying. I.e., you vote with your wallet, and the market therefore punishes bad behavior and rewards good behavior. If everyone is passively investing, that no longer works. Then it's not even a market. We don't even know, for sure, if…

It's gambling and we're already there. Hardly anyone cares about what any company does when investing in it; all that matters is whether it grows and whether you can time a jump elsewhere before it drops.

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

#380

Post by Ekaros »

danielbarla wrote: post #141
triceratops wrote: post #129

Earlier quoted context omitted.

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 th…

While I certainly had the _concept_ of compound interest taught to me at some abstract mathematical level, the application to real life practical financial scenarios was definitely not done [1]. Economics as a whole was an optional subject. I think schools and curriculums could do a whole lot better in representing this important facet of life. More broadly, I often feel that "applying all that math you've learned to…

I wonder where it will go when Y>X. Maybe open question what is the solution. A) Violent revolution and Johnny taking over means of production. B) Death.
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