Do Business Well

If you are a manager, you may want to try this exercise. On the left-hand side of a blank sheet of paper write down the names of the people who report to you in descending order of productivity, the most productive at the top, the least productive at the bottom. On the right-hand side, write down the same names, but this time in descending order of “time you spend with them,” the most time at the top, the least time at the bottom. Now draw straight lines joining the names on the left with the appropriate names on the right. Continue Reading »

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So far I’ve talked about using savings accounts and CDs to save up stacks of cash. There are lots of other investments out there— stocks, bonds, precious metals, commodities, and many more. Most of these kinds of investments don’t really work for teenagers because they require large amounts of money to get started.

There’s one nonbank investment that works just fine for teenagers—mutual funds. They don’t require lots of money to get started, and they can make your savings grow faster than a bank account. Here’s how they work.

Let’s say you have $500 to invest in something. You could buy 100 shares of a stock trading at $5 per share, but that’s putting all your eggs in one basket. If the stock does poorly, you’ll lose some or all of your investment. Not a good idea. Continue Reading »

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