Hi
@IAmCoolSmart,
Firstly, I want to say that I think it is wonderful that you are getting involved in learning about the stock market at such a young age (I am assuming middle school / high school). To buy shares on the Australian Stock Exchange, you first need to establish an account with a stockbroker. An account may only be opened by a person 18 years or older. But, an adult can, however, establish an account and 'earmark' it as being for the benefit of a child, so I am assuming that you are in this latter category.
Secondly, I think it is worth noting that no one should base their investment decision on the decisions of others no matter how educated or knowledgeable you think the person is. As you progress through life, your standards will change. Although a graduated high school student may appear wise and worldly to you at the moment, in time that will change. One day you will look back on a first-year uni student and realise how little they know still about the world. Those in middle age will look back on graduate uni students and young career professionals and realise how far they have come since then. And again, those in old age, will, with the hard-earned wisdom of many decades of life experience think that middle-age men and women still have so much to learn and experience. In other words, so much of life is subjective based on your stage in life.
Lastly, I simply wanted to pass on some advice. At this stage of your life and age as a school student, I would encourage you to focus on a different type of capital instead:
intellectual capital. Your grades at school and your
appetite and
passion for
learning at this stage will be a significantly bigger differentiator for you in your life trajectory than being distracted by speculating in the stock market with small amounts of capital. Without a doubt, it is indeed important to begin the process of compounding capital early, don't get me wrong, but the stock market is not and will never be a get-rich-quick scheme. In contrast, setting yourself up for a fulfilling and rewarding life now by compounding a passion for learning and academic success will set you on a path that will allow you to accelerate your financial progress later in life. There will come a time where you have major professional career earnings to spend and it will be many, many multiples of what you are investing today.
Time is on your side, my friend. Use it to your advantage and remember that at this stage of your life there are better measures of success than financial success.
Wishing you well,
(20min delay)