One of my co-workers is always asking the older folks for investment advice - he's 19 y.o., makes $30k/year, and lives at home. I'm curious what you guys would tell him.
Full disclosure - like most people his age, he's really just looking for some get-rich-quick scheme, so he's ignored all the good advice he's gotten so far and steadfastly refuses to believe the older guys about the biggest assets he's got: almost no expenses, a decent job and he's only 19. He comes to me every week with some crazy investment idea - the last was fractional collector car investment, and Tuesday he wanted to know what he could put $5k in that would net him $3k in a couple of years
- so I'm just curious what you guys would tell him.
It's entertaining in a way - we've given him advice that would make him well-off by the time he's 30 and financially independent by 40, but he'd be "ancient" by then. Mostly we fantasize about knowing what we know now at 19.
