Investing and Money Skills for Teenagers: Master Your Independence, Budget Successfully, and Grow Wealthy with Easy Investing, Real Estate Strategies, ... Debt! by Chad K. SmithMy rating: 5 of 5 stars
Most teenagers are focused on school, friends, sports, and pop culture for the most part. Until teens hit adulthood and start working to make money and pay their own bills the importance of developing sound financial strategies to become wealthy is not taught. Moreover, most teenagers and even some adults are not quite interested in learning about finance, investing, real estate planning, etc. This can present several challenges as the world becomes more complex and getting wealthy becomes difficult.
Learning about financial strategies, real estate investing, managing debt, etc. from the correct sources is crucial. The internet is full of questionable advice, which makes it very difficult to navigate to the correct information that leads to success. Coupled with this is the lack of financial literacy classes in our education system. This leads to teenagers transitioning into adult lives with abject lack of knowledge about economic systems, wealth building, investing, real estate acquisitions, debt management, etc.
Chad K Smith MBA has written a book aimed at teenagers to teach this very subject. The information packed book guides teens through the world of personal finance and provides valuable lessons on budgeting, investment strategies, and building long term lasting wealth. “The magic of compound interest and time leverage are your secret weapons in achieving financial success,” writes Smith introducing the concept of wealth building from an early age. Organized into eight easy to read chapters, each with nuggets of financial and wealth building wisdom, Investing and Money Skills for Teenagers starts off with the chapter that explains the quest for financial independence beyond the basics. He breaks down the emotional biases and psychological biases that can lead to irrational financial behavior, and how to prevent falling into this trap. A section on tools for mindful investing is valuable for those beginning their foray into investing.
A complete chapter is dedicated to decrypting cryptocurrencies and how to build wealth through these modern and revolutionary financial instruments. This chapter can be useful to teens with little knowledge about cryptocurrencies as well as adults in the same boat. The chapter on international markets teaches readers about how to navigate the global economy and come out with profits. The book even touches upon sustainability and green investments, advanced real estate leverage strategies; wealth building through diversification; and the final chapter deals with advanced debt management and credit building.
The three page conclusion to the volume summarizes the major concepts and lessons in the book and reinforces the fact that wealth building is long term and one can achieve this with smart discipline, and work ethic. The reference section provides valuable links to further reading for those interested in learning more on this topic.
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