Most people who read my articles are either retired or well on their way to retirement. But there’s another population that is, to use the current vernacular, ‘underserved’ when it comes to investing. I love talking to and helping investors who have some experience under their belt.

I've been trying to motivate parents, grandparents, aunts and uncles to give these young people a boost that will get them started on a lifetime of simple investing. So today, I offer a plan to help you motivate and educate that young person in your life. This includes the "magic" of starting early and using tax-free compound interest.

If Madison is a teenager and you're willing to spend a bit of time and a very modest amount of money, you can launch her on a lifetime journey with a potential payoff of $1.9 million. The total cost of this plan is $500 from you and $ 500 from Madison. And I’ve got it figured out so you and she will barely notice it.

The essential things anyone needs to know about investing are contained in a book that Richard Buck and I wrote in 2020, that’s available for free in PDF form on my website. That book was based on the idea that a young person would set aside money every year for 40 years, perhaps at the rate of $6,000 a year invested in a Roth IRA.
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