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Lian Chao

How I teach my teenage son to invest

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Lian Chao    8

I’m a Chinese-born professional in Auckland and I thought I’d share my tips I give my son on budgeting. My son was born in NZ, and is 15 now and has a part time job doing 25 hours a week while at school. Most of his friends have part time jobs while at school too, and they work around 10 hours a week. I told my son, to work more because school is only 25 hours a week and he can easily work 25 hours a week because work while your at school isn’t very stressful anyway.

That extra income is then invested into KiwiSaver, shares and term deposits. While some of his friends spent their money on clothes and saving for cars, my son realises these depreciate and are no good investment. Investing early means compound interest and good returns for longer

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ChrisNewbie    3

Your son is wise, but 25 hours/week is a lot during exam times etc, so do consider that. Cars are the worst investment unless you need one for work, and especially terrible if one is compelled to "buy new". I would encourage your son to read www.fool.com.au which really distills good shares and bad shares, and why. No hype or fluff, just really useful facts. 

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