How to Get Your Loved Ones to Start Investing

Think the stock market is a man's domain? Think again. This video is from the recent Women's Investing Conference held at The Motley Fool headquarters in Alexandria, Va., which gathered women investors from all ages and walks of life to discuss how individual investors can get an edge on Wall Street and invest better.

In this segment, Fool CEO Tom Gardner takes the stage and tells the story of a young boy who received a gift of a golden tennis racket and how it changed the path of his life forever. He also discusses how anyone can give the gift of their own "golden tennis racket" to a loved one by getting her interested in investing -- and how it can change her life.

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  • Report this Comment On January 22, 2014, at 2:18 AM, Risky88 wrote:

    Wow, I love it, totally

    reminds me of why I'm a faithful member and has no incentive to move away but only to promote!

    thank you

    guys!

    wish I knew when your seminars were actually!

    Especially in MN

    Davids G. favorite sports team the twins!

    Circle me!

  • Report this Comment On January 22, 2014, at 9:31 PM, Rare440 wrote:

    As far as I'm concerned, you're wasting your time trying to get your "loved ones" interested in investing. When people find out that I'm a self-directed investor, I get the funniest comments and reactions. Most of them seem mystified by the whole idea of investing. I'm forever hearing, "oh, I could never do something like that." Then, they'll ask me "how I do it," and when I try to give a simple explanation, their eyes glaze over and within a few seconds the interest is gone and we're on to the next topic of conversation. So I'll leave it to others to convince the unwashed masses of the benefits of investing.

  • Report this Comment On January 23, 2014, at 10:52 AM, TheRealRacc wrote:

    There are many misconceptions about the stock market. Addressing the misconceptions is the first step is educating the lesser-informed.

  • Report this Comment On January 23, 2014, at 3:44 PM, creitsma wrote:

    Tom,

    My mom got divorced a few years back and ended with cash she started off with in an investment firm. After learning from the Fool, I was able to give her a golden tennis racket of her own and have been getting her more and more involved in identifying her own investments. She's currently far outperforming the funds managed in the investment firm & she's definitely taken a passion for some of her investments (i.e. "I saw a Tesla the other day!"). Thanks for everything you guys do!

  • Report this Comment On January 23, 2014, at 6:09 PM, StarWitchDoctor wrote:

    my experience is exactly the same as Rare440, except that accusations and unkind insinuations usually follow. My dear relatives have ignored opportunities all thier life and are keen to snap back about all the "love" and "experience" i have missed by saving my money rather than blowing more of it than I have.

    Now that i am in the twilight of my life, you can rest assured i am attempting to spend more than my income. However with dividends, interest, and a job, I have found it difficult to do so, even if i buy anything and everything i want.

    menwhile my relatives who behave as deaf-mutes when i speak about investments are still "borrowing" from me. I have never recieved a payment back.

    As for the three gift subscriptions to the Fool I gave them, none of them were even able to later tell me thier Fool handle.

    I'm out. Except that i am silently in!

    Look out for yourself.

    Fool On.

    Scott

  • Report this Comment On January 23, 2014, at 7:51 PM, cmalek wrote:

    I'm with Rare440 and StarWitchDoctor - you can't make people happy in spite of themselves.

    In 1987 my wife and ger sister inherited a two family house, which was valued at $136,000, from their father. Since 1987 we have had a standing offer to sell my wife's half share to her siter for $68,000. Since 1987 my wife's half of the house has been rented. The monthly rent would more than cover the mortgage. For 27 years the sister has made all kinds of excuses not to buy my wife out. The sister thinks that I am throwing away money investing in stocks. But every week she goes to the casinos in Atlantic City. Her daughter won $185,000 playing the lottery. Within three years that money was spent and she has nothing tangible to show for it.

    You cannot force "your loved ones" to do something they do not want to do and are not equipped to do. Many times trying to get your loved ones to start investing is like trying to teach a pig to sing, it wastes your time and annoys the pig.

  • Report this Comment On January 23, 2014, at 8:32 PM, ybckorea wrote:

    When their only interest is spending - trying to get someone to save is an exercise in futility,

  • Report this Comment On January 23, 2014, at 9:49 PM, twobeerjohn wrote:

    Helping the relatives is a waste of time. When I was younger, I tried to help, but they never listened and only wasted my time. Now they ask for help and I just tell them I don't know anything, or stop wasting my time. They get mad, but who cares. My time has no value to them. But, my 3 million dollar portfolio. Ooooooooooooh, if they only knew, it'd make them sick! lol

  • Report this Comment On January 24, 2014, at 7:40 AM, cmalek wrote:

    @twobeerjohn:

    " But, my 3 million dollar portfolio. Ooooooooooooh, if they only knew, it'd make them sick! lol"

    It wouldn't make them sick, it would make them greedy. They would insist on a piece of it. SInce they are your relatives, they would feel entitled to it.

  • Report this Comment On January 24, 2014, at 1:18 PM, StarWitchDoctor wrote:

    " But, my 3 million dollar portfolio. Ooooooooooooh, if they only knew, it'd make them sick! lol"

    It is interesting that people do not invite the well off to share thier experiences.

    I did not do it alone, to claim i was self made would be a lying, decietful, hero story. The true story is that I learned the patterns of economy and investment by watching humble well to do persons and immitating them. The most interesting anecdote i have is that most well to do people live as if they were not. They dont let it go to thier own heads, neither do they let it go to others, unless others were to ask... how wealthy are you?

    Unfortunately due to our poor cultural training here, we are more likely to avoid the tough questions in order to be culturally acceptable.

    For my part, I perfer to speak my mind, as my mind operates, in real time. Convention be damned, a culture which promotes suppression in speach and listening is doomed to failure.

    Scott

  • Report this Comment On January 24, 2014, at 1:19 PM, StarWitchDoctor wrote:

    sorry about the typos fellas.

  • Report this Comment On January 24, 2014, at 5:41 PM, quiltpilot5 wrote:

    I hear all the frustrations of Rare440 StarWitchDoctor, cmalek and twobeerjohn. One of the most difficult pieces of the process for me was trust. I myself took 3 years of knowing about the Foolish guys with the funny hats before I felt confident in their investing process - and even then did a little sleuthing to find out some of their recommendations and then invested in those before paying for anything. When the returns started coming, I felt pretty confident these guys knew their stuff. Finding trust is a key component to any investor, and there is often hesitancy to get involved in any sort of business with family, let alone "foolish" stock tips. I've found especially with the Fool that individual stocks don't seem to pass "face value", particularly because they don't seem like the "things you know" that's historically good advice in investing. I've also had some misalignment between the family member's goal for their money and what I practically knew how to do (low dollar amount, save for 12 months, lose nothing, provide good returns), and often eliciting that intent can be difficult - and if you fail... well, that's just an unpleasant holiday season. I've also found that it's difficult to sway current investors to considering alternate viewpoints. This is extremely practical - if what you know works, and the alternative may not work & may lose you money, it's rational to stick with what you already know works.

    So how did I get my mom's trust? By sharing my returns (%, not $, otherwise it seems braggish), talking about the excitement of my stocks, and doing a few channel checks. Also, by continual communication about why different things might make sense for her goals - this was by far the most exhausting part. I also have the good fortune of a very Foolish minded mom who can see the potential of technology (or as the pilot in her prefers, the Runway of a stock).

    Fool On!

  • Report this Comment On January 29, 2014, at 11:20 PM, StarWitchDoctor wrote:

    Here I acted out. I regret it.

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