Quote:
Originally Posted by RawleyD
I can hear cfos gritting his teeth over this paragraph already. 
BJ, why not just buy the Volvo with the money you received from the P-car insurance, get a summer job and start saving up the rest of the money for that Boxster S you probably have your eyes on? |
I was thinking the same except rather than buying the old Porsche (liability), instead invest the cash in a very vanilla Vanguard index fund (asset). Then contribute half of his pay from the part time job to the fund every month. When he's smarter about financial security, he can diversify that portfolio more broadly. That's probably what many 16 year-olds and future billionaires are doing this summer.
Jake be smart.