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Thursday, July 23, 2015

My 3 Loyal Sons: How A Wacky Idea Inspired My Sons To Invest In Stocks

Eighteen months ago, I gave my sons a different kind of Christmas present. I gave them seed money, provided they each open an account at Loyal3.com and commit to buying $30 in shares (of any stock that Loyal3 trades), every month, for 30 years. That's about a dollar a day and the equivalent they each spend on a data plan for their iPhones.

To my delight, my sons accepted the terms and started investing in January 2014, each choosing one stock from those offered at Loyal3.

At the end of last year, I turned the tables on my sons and asked them for a different kind of Christmas present. I asked them to e-mail me an update of their accounts and to do a little reflection on their first year as stock owners. I also wanted to nudge them into thinking about the next year and their future as investors.

Please read my article on Seeking Alpha where I share some of the lessons learned, including one that was most humbling to me. I include a summary of each of my sons' portfolios and share some of the reasons for their stock picks.



Please feel free to leave comments on this article either at Seeking Alpha or here, on my blog. I'll do my best to respond to each comment as quickly as possible.
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6 comments :

  1. Adam - IWTRSJuly 23, 2015 at 11:59 PM

    Great article FerdiS! It has given me an idea for my current 2 sons. Even though they are babies now :). It is very important to understand the power of investing at any age!

    ReplyDelete
    Replies
    1. FerdiSJuly 24, 2015 at 7:54 AM

      Thanks, Adam. One idea with young kids is to pre-select two stocks and have them pick between the two. Ask them why they picked the stock they did. Help them formulate a reason if they're not sure. And show them how you buy the shares in, say, a custodial account.

      Delete
  2. Div4sonJuly 24, 2015 at 5:31 AM

    Great idea! I will need to do this with my son.
    D4s

    ReplyDelete
    Replies
    1. FerdiSJuly 24, 2015 at 5:47 PM

      Thanks, Div Son -- I think it would be great if you do it with your son. Depending on his age, involve him in the process. See my response to Adam above...

      Delete
  3. UnknownJuly 24, 2015 at 5:45 PM

    Commented on SA, great article, wonderful.

    ReplyDelete
    Replies
    1. FerdiSJuly 24, 2015 at 5:46 PM

      Thanks, Mike A -- I'll reply to you there!

      Delete

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