GameStop. But he talked with them about how
investing is a long-term endeavor. He also urged
them to always think less like a day trader, who
often lose, and more like Warren Buffett.
“I told them if they wanted to invest in high
risk, do it with money that you wouldn’t miss
if you lost it all, kind of like the scratch tickets,”
Mederios said.
Jacklynn Manning kept it simple for her boys,
ages 9 and 10. She explained some stock market
basics, including how non-professional investors
can “make a good profit if you play smart and
conservatively, or maybe a great loss, if they get
too greedy.”
Children, especially teens who are on social
media, paid attention to GameStop primarily
because people are talking about it on social
media platforms that they engage with. Teach
them how to discern between good advice
and bad. And remind them that you can’t trust
everything you read online.
Parents should also recognize that investing
looks different these days. Robinhood, for
example, has been accused of trying to lure
young people with little or no experience
trading stocks by including features on its
trading platform that resemble gaming apps,
such as showering a user’s screen with virtual
confetti every time they make a trade.
The company has defended its practices and
notes that it provides educational tools to
its customers.
“While it’s a teachable moment, parents should
reinforce that investing is not a game,” Golden
said. “Investing helps achieve long-term goals.”