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<p>[QUOTE="ToughCOINS, post: 2529130, member: 20480"]Indeed, there are many sad stories of those who threw caution to the wind, placed a bigger bet than they could stand to lose, and suffered unbearably for it.</p><p><br /></p><p>While the ages old adage applies, "never put in what you cannot afford to lose", we must not forget that, like myself in my teens, this teen also probably also has little in the way of financial responsibility to others. </p><p><br /></p><p>He has time on his side . . . There's no time like the present for him to learn a hard lesson, and live the balance of his life benefitting from that lesson . . . or to make some money with what would otherwise languish in a piggy bank or a depreciating savings account. His opportunity cost is minimal.</p><p><br /></p><p>The danger is in scoring a huge windfall, and convincing himself that there is no downside at all . . . that could cause an addiction of sorts. Of course that downside exists with most any "investment" he could put his money into, all of which are superior alternatives to dabbling in drugs and alcohol.[/QUOTE]</p><p><br /></p>
[QUOTE="ToughCOINS, post: 2529130, member: 20480"]Indeed, there are many sad stories of those who threw caution to the wind, placed a bigger bet than they could stand to lose, and suffered unbearably for it. While the ages old adage applies, "never put in what you cannot afford to lose", we must not forget that, like myself in my teens, this teen also probably also has little in the way of financial responsibility to others. He has time on his side . . . There's no time like the present for him to learn a hard lesson, and live the balance of his life benefitting from that lesson . . . or to make some money with what would otherwise languish in a piggy bank or a depreciating savings account. His opportunity cost is minimal. The danger is in scoring a huge windfall, and convincing himself that there is no downside at all . . . that could cause an addiction of sorts. Of course that downside exists with most any "investment" he could put his money into, all of which are superior alternatives to dabbling in drugs and alcohol.[/QUOTE]
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