Timeline for Should a high-school student invest their (relative meager) savings?
Current License: CC BY-SA 3.0
14 events
| when toggle format | what | by | license | comment | |
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| Nov 8, 2017 at 11:52 | comment | added | Pete B. | @Emrakul and others. That same son started law school the fall 2017 semester. He is taking care of the books, myself the tuition. In the end it will cost me less than 20K, and him less than 5k. He could do it himself, but i am in a position to help. | |
| Jan 3, 2017 at 13:33 | comment | added | Pete B. | I think you have the makings of an excellent question. The short answer is that he did community college first, then went to a university. He worked at 5 guys, but later became a state trooper and paid for college that way. He also looked at the Army, ROTC and a few other options, but that was the best for him. | |
| Jan 2, 2017 at 19:46 | comment | added | user22490 | @PeteB That's miraculous, and I'd be very interested to hear how he did it. I'm at one of the cheapest colleges in my state, and it's still going to cost $150-160K net expenses by the time I'm done. To fund that at $10/hr takes 3100 week-hours per year of work, or 60 hours per week over a 52-week year. Even an absurdly well-paying summer internship has trouble: $50/hr for 12 wks. is $25K over summer, which means I'd still come up $75-85K short. Napkin math, sure, but it works. Maybe your son found an alternate source of income. | |
| Jan 2, 2017 at 13:24 | comment | added | Pete B. | @Emrakul my son just graduated with his 4 year degree debt free. He did not qualify for grants, received no scholarships, and I only paid for a couple of classes. He worked quite a bit, still got good grades, and still managed to find some time to party. | |
| Dec 30, 2016 at 19:18 | comment | added | user22490 | What do they do when debt-free college is a completely impractical dream? | |
| Dec 30, 2016 at 16:15 | comment | added | SnakeDoc | The advice here against Penny Stocks can't be stated enough - stay far away from Penny Stocks! They may look appetizing, being so cheap and seemingly so volatile, but they are not in reality and are almost a guarantee to lose your entire investment. money.stackexchange.com/questions/18496/… money.stackexchange.com/questions/37419/… | |
| Dec 30, 2016 at 9:45 | comment | added | TomTom | +1. But also "it depends". If you are one of the few that see their future in trading AND have statistics to back that up (which rules out most that want to be traders)... then trading may be investing in yourself. But then you likely would not ask. | |
| Dec 30, 2016 at 2:04 | comment | added | Wildcard | +1. If one is going to attend college, debt-free is the correct way to go about it from a financial perspective. The influence of a college education (just for its own sake) on future income is highly questionable; there are more certain routes. | |
| Dec 30, 2016 at 0:36 | comment | added | Rob P. | How is a full-time high school student going to (realistically) manage to save enough money working a 'non-real' job to attend college debt free? And to do that before considering saving for an emergency?!?! I know adults who work full-time, with a college degree, who are going to spend decades to repay their student loans....but we're expecting a high school kid to save enough to pay for it all, debt free, before they set aside money for an emergency? | |
| Dec 30, 2016 at 0:31 | comment | added | user2338816 |
...the best possible outcome. Right now that is in yourself. Your greatest wealth building tool, at this point, is your future income. Unlikely to be the "best possible", but it's almost certainly the "best likely". Yet even so, strong argument can be made for "It's not how much money you make but rather what you do with what you make." For the vast majority, what's done is either practically nothing or worse than doing nothing.
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| Dec 29, 2016 at 10:57 | comment | added | cbeleites | +1. Still, investing in one's financial education IMHO also falls into this category. | |
| Dec 28, 2016 at 14:44 | vote | accept | Pablo | ||
| Dec 28, 2016 at 14:05 | comment | added | Ben Miller | +1 for invest in yourself. At this point in his life, it should give him the best ROI. | |
| Dec 28, 2016 at 13:52 | history | answered | Pete B. | CC BY-SA 3.0 |