It's time to help my brother prepare for the future and

In similar situation minus the asshole stepdad.

I would recommend:
think and grow rich
Millionaire by thirty
Summaries of the intelligent investor (advanced text)

Robinhood for brokerage-savings accounts are for cuks

Set up Roth IRA

Buy bitcoin via coinbase

Just go with the usual "buy eth"

>>1903803
Noice cheers for the titles

>>1903804
Sure, this is part of the intention, but I'd like him to grapple the foundations / principles of day trading / investing / financial gambling —I don't want him going in blind like I did and although I'm learning, there's not much I can teach him currently

>all 3 sciences

>>1903791
>start making smart investments and gambles
>smart
>gambles

I sure hope he is smarter than you. You brother should be getting a proper university education in a technical field, something he should be able to get largely supported by scholarships with his grades. This will make him much richer than any of the retarded shit you've listed. Also:

>wanting to give financial advice to someone while having to ask about financial advice in a fucking forum

>>1903821
Biology, Chemistry, Physics


>>1903826
Day trading and playing with / investing in crypto IS a gamble — it's volatile uncharted territory but you can make money if you're smart. I know it's not a lot, but I managed to make £350, doubling the small amnoubt of cash I threw in to pump n dumps. If I had more to play with, I would. Finding that crypto has worked for me, I'd like to introduce my bro to this or something similar so he can get a solid head start. You can be sure he'll be looking at going to university when he's ready, he's only just finished high school and is now in college, figuring out what kind of field he wants to specialise in.

I never had any kind of financial advise or insight at his age, it's only now as I'm approaching 30 that I'm realising how important it is to become financially savvy. If he becomes aware of this now he won't run into the same issues I've encountered over the years —that's what this is about.

>>1903845
Really, the only financial advice he needs is not to get into debt. Once he has a job, all he needs to do is to monthly invest into a world index of his choice. The rest is rolling dice, aside from day trading, which is a guaranteed way of wasting time to maybe get a minimum wage salary.

>>1903860
Sure, I know there are books etc out there which can help establish these fundamentals in his head. Now is the time to do it too. If he can make a couple of smart moves in crypto, it will get him ahead of the game. Currently, there is no incentive for him to save any of the wages from his shitty part time waiting job -if he sees he can make saved money grow though it will give him fresh drive and perspective

>>1903881
*i just don't know what the books etc are as I'm picking up everything through /biz/, hence this thread

>>1903803
>Roth IRA

Hi grandpa. Some of us wanna retire at 30 not 60.

>>1904000
CHECKT

Follow the golden rule.

(1) Pay yourself fist.

(2) Invest 10% of what you make into long term mutual /index funds.

(3) Do not ever touch it until you retire.

Even if he makes $40k / year and lives paycheck to paycheck and does the above, he will retire wealthy.

/thread.

>>1903881
You seem like a nice guy and a good brother. Sorry for being an ass to you. The best thing for your brother to do is learn how to passively and ROUTINELY invest into index ETFs and see how his investments will reliably grow over time through compound interest. I know some good books in German, e.g. Kommer "Souverän investieren mit Indexfonds und ETFs", but nothing similar in English. It is much better for him (and everybody else) to learn how to establish a reliable consistent method to grow his capital than to gamble through day trading or speculating on trendy instruments like crypto, wasting a ton of time that he could be spending on his main job--and thus increasing his capital--in the process. If anything, it's another gambling addiction that I really would not wish on a friend or family member.

>>1904000
Invent, patent, produce and distribute a new cell phone battery that can charge in 1 minute, last for 36 hours and cost $0.10 /ea.

There you go grandchild. Easy peasy money. Chop chop.

give him 50k and let him austically watch tick charts for 1 year

>>1904534
Hey, OP here,
thanks for your responses and advice, goes out to all anons responding to this thread

File: 2017-03-28 11_49_53-Prof. Weber- Wie soll ich mein Geld anlegen Vor der Krise, in der Krise, nach de.png (660KB, 1184x870px) Image search: [Google]

660KB, 1184x870px

>>1904496
Good post. To expand your option #2: select passively managed funds and funds with TER under 1%, i.e. index ETFs. I apologise for the shit quality, but if you look at the pic related, you really see the difference between ETFs and actively managed funds.

Case 1: No fees.
Case 2: 0.3% fee per annum (an index ETF).
Case 3: 1.5% fee per annum and 5% issue surcharge (actually a fairly inexpensive actively managed fund).

It's the usual compound interest business, where it seems like you're just giving away a tiny little bit and it turns out to consume a huge portion of your wealth growth.

File: 2017-03-28 12_32_23-Book1 - Excel.png (23KB, 739x485px) Image search: [Google]

23KB, 739x485px

>>1906303
Just to have a cleaner graph with TER only.