Welcome to my 2nd blog post!!
My three-step approach for my research this semester will consist of the following:
- What are the different income sources for adolescents (those under 19)? It is important for youths like us ti understand the minimal options we have of having an income due to the lack of choices, so we are able to maximize what we are given. In addition, I want to inform those my age that there are more ways than just a part-time job to make money! Moreover, making money is the first step to understanding the gravity of how you use/spend your money affects you in the long run.
- What are the different types of investment types/styles? Many believe that investing can only be limited to stocks, and if so how do we even invest in stocks? through an app? or a website? the bank even? By informing adolescents about their options, they are able to choose one that works for them in a profitable sense and help broaden their investment portfolios as opposed to only stock investments.
- For example Equities, investment bonds, shares, etc.
- What type of investment is right for you? After researching the different types of investments, I would also like to help with defining them in financial terms. For example, in what situation would you invest in properties and lands, and in what situations would it be expected to invest in a TFSA.
- Also, what are the purposes/benefits of investing at a young age? I would also like to put some of the benefits and real-life examples of individuals who are financially free as a result of early investing.
Some resources that I believe will help me:
My purpose for this research is to help those my age get a sense of how they can be financially free in the long run. Because as a grade 11, university is just looming ahead and knowing that I will have to spend a lot on schooling, housing, and other living expenses, can also mean a lot of debt. By researching this topic, I can help my community by summarizing my research in a style that anybody can comprehend!!
Thanks for reading!!