Instead of giving my son (13) money to blow on Apex or whatever video game of the moment I had him pick 4 stocks and I put half of the money I would give their (good grades, chores, holiday) and give him the other half of cash portion. Only stipulation is he has to hold till 15 (I’m hoping we will want to contribute MORE to help getting a car—- but I am game to let him blow it if that’s what he wants).
Tickers are FAZE ($9), SNAP (11.20), SONY(82), and KHC (36.80). Due to the stock market since June I have put most money into SONY. but now I’m not sure I am doing him a service.
Should I diversify more across all the stocks, focus on another, or keep betting money in SONY will make him see value in investing when he cashes out? OPTION 2 just put it in ETF but… picking the stocks and companies he supports was one of the most enthusiastic moments of participation with this.
Thoughts Reddit?
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