Barefoot Goes to School

Question


Hi Scott,

I am a high school economics teacher. This week I made your recent article ‘How Not to Raise a Spoiled Brat’ required reading for my Year 9/10 class. I am looking forward to hearing their thoughts! I am also planning to play the ASX Sharemarket Game with the class. Do you have some top tips for them as they try out investing for the first time?

Cheers,

Miss J

Scott's Answer


Hello Miss J,

Even though I’m a former employee of the ASX, I have to tell you that I’m not a huge fan of the game, because it encourages short-term trading, not long-term investing. My tip would be for the class to do some real-world homework. Have them ask their parents three questions: Where is their super? How many super funds do they have (most people have three)? And what are they being charged in fees (as both a percentage and a dollar amount)? That’s one lesson the entire family would never forget!

Scott