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Robinhood Offers a Great way to get your Children Involved in Investing!

Jun 27, 2020 09:28PM ● By Paul Spear
Robinhood Offers a Great way to get your Children or Grandchildren Involved in Investing

A great way to get your children or grandchildren involved in investing is Robinhood. Robinhood has been met with explosive growth being a huge hit with the younger investor. With no commissions to buy and sell a stock, the ability to buy fractional shares, and giving away 1 share of stock has made Robinhood popular with all ages. Right now. for a limited time, Robinhood is giving away 1 share of stock free, up to a value of $200 when you open up a new account with them. Click here for your free share of stock worth up to $200: Free Share. They will give you all the details when you visit the site or go to join.robinhood.com/pauls6673.

I didn't learn about stocks, bonds, and finance until my senior year of high school in my government class. Before that, I can remember some of my friends telling me they owned Disneyland but I never fully understood them. What they really were telling me was that their parents or grandparents had bought the stock in Walt Disney.  When we had this course in high school most of these same friends were way ahead of me in knowing about stocks and investing.

Why teach your children about stock, bonds, and investing?
While saving is an easy way to begin a child's financial journey, investment is the next necessary step in making money work. You should point out the difference between saving and investing, and go over the risks and rewards of each. Children should learn that they should not place all of their eggs in one basket. 

Make a game out of it!
In my high school, we were given so much play money and we were allowed to own 4 different investments. We could put any part of our money in a mix of 4 stocks, bonds, or a bank CD. We were allowed to buy or sell a stock once a week or change investments. We tracked our investments for 3 months. The person with the most money after the 3 mo.nths won.  I found it a great learning experience and at 18, after graduating high school, I got a job as a clerk for a stock brokerage firm. I later passed a test and received my stockbroker's license when I turned 21. 

One way you can start younger kids off by giving them a play money portfolio and tracking the results. Playing through online simulations can create a space for you and your child to openly discuss the rules of investing. If you are looking for an online tool, the SIFMA Foundation offers the Stock Market Game, which can be used with children in grades 4-12, and which works in conjunction with a smartphone app. Visit https://www.stockmarketgame.org/
The Stock Market Game is designed for both classroom and individual.

Investing is a very important part of life and it's never to early to get the kids involved!
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