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Transcript

Meet Someone who Once Was A Cash Kid Himself

Today, we're going to meet a stock market trader who once was a cash kid himself.

So, you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your seventh birthday.

Here you go, sweetie. Whoa, thanks, grandma!

Whatever it is, what are you going to do with it? Spend it, hide it away, or maybe invest it. Let's start learning how to make that money grow. Time to learn how to be a cash kid.

(0:51)

Hey, you guys, it's Cash Kid. And you can be one too. And this podcast will help. Today, we're going to be talking to someone I met last year, who helped me get started in the stock market. He was once a fellow cash kid himself who loved ways to make money and invest. So, I felt it was best to get some tips we kids could use today.

(1:10)

Cash Kid - Welcome to the show, Jacob.

Jacob - Hey, Cash Kid. Thank you so much for having me on the podcast.

Cash Kid – Jacob, I'm so happy you could join us today. You gave me some great advice when I was starting out wanting to invest in the stock market. So, I wanted to get your story of why and how you got started. So first, tell us about yourself.

Jacob - I am an investor and I own a small business. And I also work for a company as well. And I've been investing for a long time. And I'm excited to talk about investing with you today.

Cash Kid - Jacob, you shared that when you were a kid, you loved math and had a great interest in how to grow your money. What sparked that interest?

Jacob - I think what really sparked my interest was when I first heard about compound interest. When I found out that you could make interest over time and turn a small amount of money into a large amount of money. It really got me excited about investing and saving.

Cash Kid - What did you do or how did you find ways to make money as a kid?

Jacob - When I was not old enough to have a job, I started doing yard work around my neighborhood. And when I very first was able to get a job, I started folding boxes at Domino's. And then I worked at Taco Bell and lots of other places as I was growing up until I got into college.

Cash Kid - You hear that kids? You can do yard work? It may not seem that fun. But you can still do it. When did you start investing in the stock market.

Jacob - I first started investing in the stock market when I was 18. My parents didn't know anything about the stock market. And there wasn't really a good way for me to invest when I was younger. So, when I turned 18 is when I opened my first brokerage account and started investing.

Cash Kid - How did you find out about the stock market?

Jacob - That's a good question. I think that I first heard about the stock market from newspaper and radio articles. There was a man named Warren Buffett, who I got very interested in because he was the richest man on earth at the time. And I started following his advice and looking more into him. And that's when it really started.

Cash Kid – You also worked to own your own business. Tell us about that.

Jacob - Yeah, absolutely. I work for a company. And I learned a lot of information while working at that company. And I use some of the information that I learned in order to open a business. And that business helps people sell products on Amazon. And that's also what I do at my other job as well.

(3:38)

Cash Kid - What resources did you have to learn how to invest?

Jacob - You know, that's, that's one I don't really remember Cash Kid. I remember listening to some maybe audiobooks. I think I think I read books, and I listened to some audiobooks. And then when the Internet became a more prevalent way for people to put out information, I started reading articles on the internet. And still to this day, I read a lot of books about it as well.

Cash Kid - What advice can you give us kids who sometimes may not be great at patience when it comes to investing?

Jacob - Well, the biggest advice that I could give is to know that time is the most valuable asset when you're investing. If you get a little bit higher return, it's not going to do as much for your returns as it is if you're in the market for a longer period of time. So, start as young as you can. A lot like what you're teaching Cash Kid, you want to get started as soon as you can. And then the next thing I would say is if you don't have a parent who is real interested in investing, see if your parents can find a friend someone that can teach you how to find out more information.

Cash Kid - Are there any tips you can give us kids today about how to save and invest our money?

Jacob - You talked about one of my favorite tips in a previous epi...