This is a story about how a gift of shares can create a domino effect.
I came across a story recently that piqued my interest. Ben Clendon, now in his 30’s is actively building a share portfolio for the future. His story however, began when at five years old, Ben’s father bought him some shares. That action had a domino effect. It made Ben curious, and that in turn created an awareness of shares and the stock market, and that developed into a career.
It got me thinking what a great idea it would be to do this for our kids or grandkids. What a legacy to leave to them! I’m not meaning some big dollar value of a share portfolio. We may not have the resources. What if we gave them enough to spark an interest? With knowledge ordinary people can extraordinary things.
I did not start investing until my 50’s and I am still learning. There’s so much to get your head around:
- what broker to use;
- how to keep track of it all;
- knowing your risk profile;
- what to buy;
- when to sell.
Who, what, how? With an early access to knowledge we can help our families create a small, well crafted safety net for the future.
The average life span is a long one these days. The more we can set ourselves up with an independent income the more security it will give us to face our ever increasing timeline. Bugger running out of money and having to live on the government pension.
Being self-directed investors necessitates an active role. It is a huge responsibility, a complicated if interesting one, and having some tools to help keep track of it all, is critical. Have a listen to Ben Clendon from Sharesight (sharesight.com)and you will hear about possibilities. It is why I enjoyed this interview so much.