I don't know about teaching kids to trade at 5 or 6, but just speaking from my experience, the best education and introduction to investing I ever got was during my freshman year in HS in a class on financial literacy. This was back when you would actually learn how to write checks and balance a checkbook. I don't remember what all we learned, but I do remember going on a field trip to a brokerage - again back in the day when you had to call your broker to place an order and you could only monitor your stock price once a day by looking in the newspaper. Whatever it was about that class inspired me to buy some stock in Motorola. I also actually got the paper certificate for my shares mailed to our house. Being able to physically see the shares made it seem that much more real. I didn't keep the shares for an extended period of time before I decided I wanted to sell them - if I remember correctly I think it was to put the money towards a car. I also don't remember if I made or lost money (either way I don't think it was much), but the lesson's on investing had been learned. That class, along with typing, were the most valuable classes I ever took. I wish I could remember that teachers name so I could see if he was still around so I could thank him for sharing his knowledge and passion for investing. I think before a child can grasp the idea of investing and trading in a mature way, some critical preliminary necessary steps would include having a checking and savings account, a job or experience making money selling lemonade, slushies, or whatever else - so that one has a real understanding of the value of money. You can teach someone all day long about how to trade but I think those lessons need to have real benefits and consequences to actually be absorbed in any meaningful way.
Kids today raised in sterile coccons. I dont remember all this Peanut allergy shit when I Was a kid. now kids are dying if peanut butter touches thier body. WTF! And all the drugs they give boys to shut them up and keep them quiet and in the corner. You are seeing the effects as they become adults. Just watch the news, its quite sad how our next generation is turning out.
Exactly. Spot on. I never spoke with my children about fulltime trading before they had finished school, received a decent education and could find a decent job. Knowing the value of money is elementary. Children below the age of 12-15 years have no clue what trading is about. How can they make a well based decision to go for it? Even at the age of 20 my children did not fully understand the impact trading might have on their life if they would be successful. They also had to show interest from themselves, I never pushed them. Only one of them succeeded in trading and can live from his trading income if he would wish. But he likes his job in IT and does not want to give it up. As we live in Europe he can work fulltime and after that still trade the major part of the RTH. Succes rate for my children is 25%. Only 1 out of 4 made it in trading.