A Kid With Goals

Andrew in South Bend is homeschooled and hates spending money. He's 11 years old and has a coin collection worth $800. Should he sell it and put the money in the bank or keep it?

QUESTION: Andrew in South Bend is homeschooled and hates spending money. He’s 11 years old and has a coin collection worth $800. Should he sell it and put the money in the bank or keep it?

ANSWER: You did this as an investment to create income. That was why you did it. Going forward, what is the best way you can make this investment make you money? Do more coin collecting? Because you’ve gotten pretty good at it. You’re 11, and you’ve got $800. That’s pretty studly. You’re a rock star, man. I’m thinking the coin collecting thing is working pretty good for you. I’m okay with you hanging with that a little while. When you’re 29 or 31, you may do something different with it, but for right now, it’s working out pretty good for you, dude. You’ve ended up with some coin, no pun intended. Very well done, sir.

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