There comes a time in every parent’s life when their teenager decides they are ready to become a millionaire. For my kids, this realization struck after they saw a TikTok video about investing. Suddenly, our dinner conversations were filled with terms like “diversification,” “compound interest,” and “stocks only go up.”
It started when my daughter asked, “Mom, if I invest $100 now, how long until I can retire?” Before I could answer, my son jumped in, confidently stating that Warren Buffett probably started with five bucks and a dream. I tried to explain that investing is a long game, not a get-rich-quick scheme, but they were already downloading stock trading apps and talking about "going big."
My daughter decided to invest in a company that sells overpriced iced coffee because, in her words, “Everyone I know is addicted to it.” I applauded her logic but suggested looking at things like earnings reports and company history. She blinked twice and asked, “Is there a YouTube video for that?”
Meanwhile, my son was convinced he had discovered the next big thing. “Mom, I’m investing in this company because their logo looks cool,” he announced proudly. I sighed and pulled up a lesson on market trends and financial statements. He countered with, “Okay, but what if I just have good instincts?”
The next day, my daughter checked her stock price every ten minutes and had an emotional breakdown when it dropped by fifty cents. My son lost interest in investing entirely when he realized it did not provide instant riches.
Moral of the story? Teenagers may think they are ready to build an empire, but they are still figuring out how to keep track of their own socks.
