Stock Market - The Five Myths_5
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STOCK MARKET - THE FIVE MYTHS_5
MYTH 5: YOUNG PEOPLE CAN AFFORD TO SPECULATE IN STOCKS.
Of all the myths in the market, this may be the cruelest and the most foolish. Everyone knows that the elderly are not supposed to take risks. They must be very conservative because their earnings power is very limited. They can't afford to lose their money! Well, who decided that young people could afford to lose their money?
If any group needs to watch their money, it's young. They need every penny to start a family, buy a house, furniture, save for the future and on and on. Furthermore, young people (except for the Yuppies, maybe) are at the low end of the earnings scale. They have precious little disposable income. They cannot afford to speculate!
They also have an invaluable asset on their side. Time. They don?t need to take risks. They can invest in the tried and true companies that make money year out. At 10% growth per year, their investments will double every seven years. By the time baby is off to college, that initial safe investment has increased by a factor of eight.
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