You Can Thank Me Later...

A simple summer gig could turn into hundreds of thousands of dollars if the paycheck is put to good use. [Profit Trends]( SPONSORED [Wall Street FEEDING FRENZY on 5G SuperStock!]( [5G SuperStocks]( One stock set record revenue in 2019 due to "booming 5G demand." The $3 stock is bringing in... get this... $340K per MINUTE! Wall Street is loading up. [Get the story on this 5G SuperStock right here.]( [TREND INVESTING]( Spread the Word: How to Turn a Summer Job Into a Nest Egg Rebecca Barshop | Senior Managing Editor | The Oxford Club [Rebecca Barshop] I wish I could go back to age 16, but it's not for any of the reasons you might imagine. Sure, the youth, the naivete and the freedom of a brand-new driver's license were all nice. But I also had the vast advantage of time. You see, that's the summer I had my first job as a camp counselor. I couldn't tell you where that money is now, except that it's long gone. Probably wasted on iced coffees, frozen yogurts and a new iPod (before touch screens were around). But if my current boring, financially responsible self could go back and tell "teen me" to do one thing... it would be this. Now Hiring Gen Z Teenagers have it so good right now. (That's what all adults are supposed to say, right?) Since late spring, many areas have been reopening and recovering from the pandemic. But, [as Chief Trends Strategist Matthew Carr wrote recently]( the "Great Resignation" has taken hold of the U.S. Workers aren't coming back in droves, whether it's because of favorable unemployment benefits, career changes, the continued state of public health or something else entirely. But retail stores and restaurants in particular - two areas that can hire teenagers - needed employees... and fast. Lucky for many businesses, the economic reopening coincided with the end of the school year. It's often the case that teenagers are eager to find employment, will accept lower wages and don't need benefits. At the start of the summer, the unemployment rate for teenagers ages 16 to 19 was at a 70-year low of 9.9%. That means a record number of teens are receiving real paychecks. Advice for 16-Year-Old Me When I got my first job, my mom took me to the closest bank to open a checking account. This was definitely a step in the right direction toward teaching a teen how to keep track of their money. But - as I mentioned above - I didn't exactly save that money. It was mine to use for things that I wanted (read: thought I needed) as a 16-year-old. Even if I had deposited my money in an interest-bearing savings account, the 0.2% earnings on my sub-$2,000 paycheck would be downright negligible. Looking back, I should have started a Roth IRA. SPONSORED [Are You Ready for Stockflation?]( [Stock Market Data Board]( This unstoppable force is going to shake the market... Is your retirement portfolio prepared? [Get Ready Now - See How]( IRA stands for individual retirement account. And a Roth IRA is a retirement account that puts after-tax dollars to work for the long term. Contributions and earnings grow tax-free. And the account holder can withdraw money without any taxes or penalties once they reach age 59 1/2. There's no age restriction to set up a Roth IRA. And teenagers working your standard summer job will likely not hit the $6,000 contribution limit set by the IRS. A few important things to note are that your teen would need proof of income (i.e., a legal paper trail) and that contributing to a retirement account would trigger a taxable event. That means your teen would file their own tax return as a dependent. A Roth IRA is a safe place for teens to start learning about finance and [growing their wealth at a young age]( - before a majority of their peers are even thinking about their golden years. Once you and your teen consult a tax professional and get the details ironed out, that's when the fun begins... Because what's more fun than establishing smart money habits, right? Hook 'Em Young If your teen is curious or needs some convincing to part with their hard-earned cash, use this handy [investment calculator]( to show them the numbers in black and white. Using the funds within the account, they can invest in individual stocks, bonds, mutual funds, exchange-traded funds, money market funds, CDs and more. This is the perfect time to learn that high-risk, trendy or volatile investments are not always the best route. Rather, a well-diversified portfolio of low-risk options (like bonds), medium-risk options (like blue chips) and high-risk options (like crypto) will be the most rewarding over the long term. So tell your sons, grandsons, [daughters and granddaughters]( this... A simple summer gig could turn into hundreds of thousands of dollars if you know how to put your paycheck to good use. And when they predictably roll their eyes, just say, "You can thank me later." Good investing, Rebecca P.S. What was your first summer job? And what did you do with your hard-earned dollars? Let me know in the comments! [Leave a Comment]( MORE FROM PROFIT TRENDS [Looming Rubber Shortage Provides Another Chance to Profit]( [Virgin Galactic's Founder Went to Space... What's Next for Investors?]( [How to Profit From Fast Fashion]( [Facebook]( [Facebook]( [Twitter]( [Twitter]( [Email Share](mailto:?subject=A%20great%20piece%20from%20Profit%20Trends...&body=From%20Profit%20Trends:%0D%0A%0D%0AA%20simple%20summer%20gig%20could%20turn%20into%20hundreds%20of%20thousands%20of%20dollars%20if%20the%20paycheck%20is%20put%20to%20good%20use.%0D%0A%0D [Email Share](mailto:?subject=A%20great%20piece%20from%20Profit%20Trends...&body=From%20Profit%20Trends:%0D%0A%0D%0AA%20simple%20summer%20gig%20could%20turn%20into%20hundreds%20of%20thousands%20of%20dollars%20if%20the%20paycheck%20is%20put%20to%20good%20use.%0D%0A%0D SPONSORED [Do you own gold?]( [Somebody recently decided to buy a LOT of gold.]( And I think I know why... It's all about a meeting that's scheduled for September 22. If you own gold (even just a few ounces of it), you've got to see what's happening. The big announcement is just days away. [Click here now.]( [The Oxford Club] You are receiving this email because you subscribed to Profit Trends. Profit Trends is published by The Oxford Club. Ready to start investing? [Click here now.]( Questions? Check out our [FAQs](. Trying to reach us? [Contact us here.]( Please do not reply to this email as it goes to an unmonitored inbox. [Privacy Policy]( | [Whitelist Profit Trends]( | [Unsubscribe]( © 2021 The Oxford Club, LLC All Rights Reserved The Oxford Club | [105 West Monument Street](#) | [Baltimore, MD 21201](#) North America: [1.800.589.3430](#) | International: [+1.443.353.4334](#) | Fax: [1.410.329.1923](#) [Oxfordclub.com]( The Oxford Club is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that although our track record is highly rated by an independent analysis and has been legally reviewed, investment markets have inherent risks and there can be no guarantee of future profits. The stated returns may also include option trades. We expressly forbid our writers from having a financial interest in their own securities recommendations to readers. All of our employees and agents must wait 24 hours after online publication or 72 hours after the mailing of printed-only publications prior to following an initial recommendation. Any investments recommended by The Oxford Club should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. The information found on this website may only be used pursuant to the membership or subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of The Oxford Club, 105 W. Monument Street, Baltimore MD 21201.