lol my two pennies: wait til your second year (not term) and then start trading minimumly for the gain/knowledge/experience. You can always keep learning. Then again, if u make ivy, I wouldn't be so keen on doing that. I'm finishing my third year and have been doing minimual trading just fine (even some profit ) but there's not much time to do anything more than a few trades a week. Mostly, my "trading time" is spent researching and observing so I don't get tied down with trades. RT
The answer is simple. Go to a college that lets students invest a small portion of the college's endowment. You are supervised of course, and there is competition for spots in the investment group, but it is becoming more and more common and you get real world experience managing other people's money. For example: http://www.cob.ohio-state.edu/fin/courses/sim/hits.html and much more on google.
He's not some innocent kid - read his comments. Personally, I truly hope he gets caught, as he doesnt need the aid and kids who do need the aid, dont get enough and have to work to supplement. I bet he's back here in a few years arguing how GS is beneath him and how smart he is.
hmmm...... if you read ANY financial advice book on college admissions, they all say to do everything you can to minimize your expected contributions so that you receive more aid. I wasn't asking anyone on here to judge me, I was asking for advice on whether or not it'd be worth it to still trade a couple times a month. You clearly are not a gambler, or else you wouldn't propose making such bets as that. What leads you to believe I'll be saying GS is beneath me and saying how smart I am? Whatever it is, I'd bet that I won't do any of that.
If someone told you to rob a bank to increase your wealth would you do that? Hiding assets is no different. You're simply someone trying to play the system and hoping nobody challenges you.
Tom - settle down. He is not 'playing the system'. Absolute is right - any college aid books/magazines/etc advise to get as much out of the child's name as possible. When I was a broker providing advice to my clients, the firm I represented taught their brokers to let the parents/grandparents know that getting $ money out of the kid's name and if possible the parents, was proper planning. Aboslute you'll soon find out if you hang around this forum too much you get some real winners here...
Look here....another....at least he admits it....dishonest broker! Have you ever wondered why you are no longer in that business? The market has a way of separating the wheat from the chaff! Those books are and your firm were providing advice that is dishonest advising someone to engage in fraud. Just because someone advised you to do something doesn't make it right. I admit, you hit the nail on the head with one of your points....you are one of those "real winners" on ET.
MS - just curious, please provide evidence that what Absolute is trying to do is 'fraud'. I am not aware that positioning of assets and estate planning is fraud, but I'm sure you will provide plenty of evidence to the contrary. Why am I no longer in the business? B/c I resigned to start my own private practice. You almost had me there smary guy! Feel free to post your evidence that this is fraud here or PM me, whatever you feel is appropriate. Again Absolute, good luck in your decision. Apparently some would consider what you are doing as fraud.