Welcome to my 2nd blog post!!
My three-step approach for my research this semester will consist of the following:
- What are the different income sources for adolescents (those under 19)? It is important for youths like us ti understand the minimal options we have of having an income due to the lack of choices, so we are able to maximize what we are given. In addition, I want to inform those my age that there are more ways than just a part-time job to make money! Moreover, making money is the first step to understanding the gravity of how you use/spend your money affects you in the long run.
- What are the different types of investment types/styles? Many believe that investing can only be limited to stocks, and if so how do we even invest in stocks? through an app? or a website? the bank even? By informing adolescents about their options, they are able to choose one that works for them in a profitable sense and help broaden their investment portfolios as opposed to only stock investments.
- For example Equities, investment bonds, shares, etc.
- What type of investment is right for you? After researching the different types of investments, I would also like to help with defining them in financial terms. For example, in what situation would you invest in properties and lands, and in what situations would it be expected to invest in a TFSA.
- Also, what are the purposes/benefits of investing at a young age? I would also like to put some of the benefits and real-life examples of individuals who are financially free as a result of early investing.
Some resources that I believe will help me:
https://www.securities-administrators.ca/investor-tools/understanding-your-investments/types-of-investments/
https://smartasset.com/investing/types-of-investment
https://www.forbes.com/sites/robertberger/2022/05/08/5-apps-to-help-teens-start-investing/?sh=4f77d1695c9e
https://www.principal.com/individuals/build-your-knowledge/when-start-investing-4-signs-youre-ready
https://www.investopedia.com/articles/investing/072415/todays-top-young-investors.asp
My purpose for this research is to help those my age get a sense of how they can be financially free in the long run. Because as a grade 11, university is just looming ahead and knowing that I will have to spend a lot on schooling, housing, and other living expenses, can also mean a lot of debt. By researching this topic, I can help my community by summarizing my research in a style that anybody can comprehend!!
Thanks for reading!!
-Sanam.M
Hello Sanam.M,
This is an eye catching topic.
Informing youths of their financial investment option not only advances how people spend money but also how they plan for their future.
Personally, I was brought up believing that money is the root of all evil and asking people how much they earn or their view on money is rude.
Recently, I started reading money and investments books and the thought of having financial freedom is liberating. (If only I was taught how money works when I was in high school).
1. I am excited to learn how You differentiate between a con investment skim and a real investment opportunity.
2. What is an ideal financial investment plan that guarantees financial freedom?
looking forward to your next post.
Wishing you all the best.
Hi Sanam,
This is a great topic, especially because there’s so much confusion at our age around investing, and I’m looking forward to learning more about it! In your future posts, maybe you could talk about how investing has impacted you personally, or if you are also planning on starting to invest at a young age? Most people around our age group find investing to be daunting, so I think it could be interesting to see what your personal experiences with it have been like! Here are some more resources that I think could help with your project:
https://www.mydoh.ca/learn/money-101/investing/investing-101-a-guide-for-parents-and-teenagers/#:~:text=If%20your%20tween%20or%20teen,be%20put%20in%20their%20name.
https://www.thebalancemoney.com/investing-guide-for-teens-and-parents-4588018
Good luck with your research!
-Shaila
Hello Sanam,
This is one of my favourite inquiry questions. I’ve always been interested in investment and understanding more about money and how to make more of a stable income, as well as save my money. As many students think about their future financially, I know many have no idea where to start. I think this question will not only help students like me, but open the eyes of many others about the different possibilities of making money.
Here’s a few links to help.
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjJhdK8-ZD7AhWoDjQIHaneBYgQFnoECBQQAQ&url=https%3A%2F%2Fwww.fool.com%2Finvesting%2Fhow-to-invest%2F&usg=AOvVaw0FMaQkR3_sWeYMI8gS0biA
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiUztPP-ZD7AhVCJH0KHXVmA0MQFnoECBQQAQ&url=https%3A%2F%2Fwww.fool.com%2Finvesting%2Fhow-to-invest%2Finvesting-for-teens%2F&usg=AOvVaw05FLE9bCBki9yUWk8G0yVf
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwin6Znn-ZD7AhVsBjQIHR-6C_AQFnoECDAQAQ&url=https%3A%2F%2Fwww.commsec.com.au%2Feducation%2Flearn%2Finvesting-basics%2Fwhat-are-the-different-types-of-investments.html&usg=AOvVaw3XiAKLisQmasQxs1WdA8CG
Good luck!
Hello Sanam.
Great topic, you caught my eye immediately! I have always wondered how would we be able to make money when most money-making methods require us to be at least 18 years old. Would an Entrepreneurship class help us get a good grip on what we can do or use? I am looking forward to your future posts, keep up the great work!
Here are a few websites that might help you with your research!
https://www.cnbc.com/2010/12/02/10-ways-to-invest-in-youth.html
https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/17/why-young-people-should-be-investing-right-now/?sh=5da8e3e9763e
https://www.budget.gc.ca/2019/docs/youth-jeunes/youth-jeunes-en.pdf
Hi Sanam,
A website that might interest you would be https://www.lifepointspanel.com/en-ca
It’s a website that pays you in points that can be turned to money in exchange for completing surveys.
– Amy