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Teen Already Saved $10K for Retirement

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  • Description

    Fabian Fernandez-Han on how he has already saved $10,000 for retirement by age 14.

  • Duration 4:44
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Well according to a new survey over one quarter baby boomers aren't sure they'll be able to save -- up by the time -- ready to retire.

While on the flip side -- in their twenties and thirties they feel confident they'll have enough money.

But my next guest has -- -- he started investing for retirement when he was only ten.

And now fourteen he has 101000 -- saved joining me now tells how he did it -- Fernandez time they thanks for joining us appreciate your help tonight.

Tell you why you decided to invest like this what was behind that.

Well I've been saving all my life and it started with my dad because he I -- -- -- and he was trading at -- -- and the charge that very interesting to me.

So I was wondering what you're doing so I asked him and he showed me some things about investing and stocks and that's -- that's how it started.

And so the first doctor about was actually apple now is four years ago when I was ten -- apple is only a 130 dollars.

And -- bought your shares then and since then I've -- I sold apple at 350 dollars.

So I -- -- money off that also I've been investing.

Not only an apple but also a lot of other companies because I know it's good -- have had to do a diverse portfolio.

Absolutely right so how do you think -- stocks what goes -- -- thinking.

Well first of all what I view it is I look into the company and I see an analyst report I see what other people think about it.

I also see that different graphs -- news about the company but I don't -- just about the profit -- secure about.

What the company doesn't -- ethnic if it's ethically right.

So I don't just look at profit because I think it's awfully good.

To invest in companies that are that do good for the plan.

So you want to know what that company is doing for -- -- and how they're making their money.

Now I would tell viewers that you won a huge competition down at the New York Stock Exchange.

Tell us what in dead and how you got so much attention for that.

Yes it was a company it was a competition and who is sponsored by the New York Stock Exchange and who is also presented by.

-- FK would transfer by kids for kids who and the competition challenged kids.

To text into it -- other teens.

About saving and investing so what I did was I invented a -- out for the iPhone.

And it teaches kids about saving investing.

Because that's what I liked -- that's one thing I like doing.

And it's a free up on the I've -- and I invented the out for the competition they really liked it.

And actually got during the belt in your stock exchange or -- the 12500 dollars.

Ari the musically as say your quickly it's called WellPoint has -- -- -- That's the name of the -- yes and and very cool teaches kids about money you want 25 -- -- she said would you do with it.

I bought Google not really what I've bought it cracked yeah actually -- it 300 dollars a share that's a lit up 500.

Wow until do you write in newsletter can we follow what you're doing when -- investing because you got some pretty good -- -- baby and I gotta tell -- I haven't newsletter yet but you can actually download map right now the in Europe stock changed that funded the -- and I can actually -- -- -- purchase it it's very.

Saving when you look at what's going on with baby boomers out there they really are short savings for retirement and even for college savings for their kids.

What would you say to them.

I would say it's very important to -- -- and not only for baby boomers but also for the current generation because the -- -- -- duration not the lack Social Security because it probably won't be there for us.

So we have to save for retirement and college with things like that.

And also want to stress that -- really -- -- when you're young and often that's because when you're young you can take more risks because you have more time to recover if you.

If you if you mess up and if you lose a lot of money also it's a great experience also.

I want to stress stress the power of compounding.

Because for me -- 101000 dollars and if I buy invest that money.

And I get 10% a year or turn each year not -- not putting any more money that 101000 dollars.

By the time of 65 of one point three million dollars.

That's a lot of money that's -- our -- and bank account.

If -- that in bank account.

With 1% interest I would only have 171000 dollars.

And maybe and I I love your expenditures low -- message add a great idea is.

I Euro rock star and mysteries come back on the show -- Tunisia can't.

Thanks for helping us out great to meet you and hear your story have a great afternoon and agree Christmas.

Thank you you.

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