#88. Travel and Tourism generates $100 billion in tax revenue for local, state, and federal governments. If you place 100 billion dollar bills end-to-end, they would circle the world 397 times.
A Lesson in Investing
By this point in your life you probably already know all about checking and savings accounts. But do you know there are other things you can do with your money? Investing is a great way to put your money to work for you.
Where to start? Where else? Mom and dad! Chances are your parents have a few investments going and would be happy to review with you what they are and why they have them. There are many areas they might be invests: certificates of deposit, money market accounts, mutual funds, bond or stocks.
We know you’re probably not in the financial position to make investments with your own money. So, that leaves you with two choices if you want to get hands-on experience with investing. The first choice is to track your parents’ investments with them and learn that way. Or, you could go online and “play” the stock market yourself. There are dozens of websites and apps that let you invest in the stock market using pretend money, but actual companies. Here are a few to choose from:
- Wall Street Survivor – This site offers free, short online investing courses, a financial library and you can create a pretend online portfolio of stocks.
- The Stock Market Game – Decide what you’d do with $100k, learn the ins and outs of the stock market and put together a stock portfolio to follow. You can do this as a team in a classroom or team up with a parent to learn and play that way. This site is part of the SIFMA Foundation, an organization dedicated to helping people understand the financial markets.
- Virtual Stock Exchange – Developed by the Wall Street Journal’s MarketWatch, you can create your own pretend portfolio, make one that’s public or join someone else’s online portfolio to play. You can also join discussion groups to talk investment strategies with others.
- iTrade – This app simulates the real stock market and starts you out with $100,000 to invest in your favorite companies. You can share info with friends or even compete with them to see who has the most profitable portfolio. Apple Android
- Stock Market Millionaire – Like iTrade, you’re given $100,000 to play with and see what kind of portfolio you can put together. There are also multiplayer components to the app. Apple Android
- Anvestor – If you’re interested in learning about investing in things in addition to stocks, Anvestor lets you invest in real estate and other large asset investments. This one starts you out with $5,000 to work with. Android