OT: Best free stock market simulator?

[husky429]

I've been voluntold to teach a personal finance class this year to 14 year olds as an elective, so most of them should at least be mildly into it. 14 kids, 4 days a week.

I want to do a semester-long stock market simulator with them with prizes for the winner.

Any best options out there? Basic platform is fine as long as it's pretty visually appealling and simple to use.

Giving up my prep period but I am making a chunky stipend ‍♂️

 

[Get a Job]

I don't have any specific recommendations for simulators, but I suggest using a back tester as well so you can show the kids what different strategies do over long periods of time. Over the course of a school year, the "winner" will likely be the kid that got lucky with a couple hot stocks. It would be a shame to create the impression that chasing the dragon with individual stocks is the way to go.

 

[auror]

I don't have any specific recommendations for simulators, but I suggest using a back tester as well so you can show the kids what different strategies do over long periods of time. Over the course of a school year, the "winner" will likely be the kid that got lucky with a couple hot stocks. It would be a shame to create the impression that chasing the dragon with individual stocks is the way to go.

Yeah should teach about the Warren Buffett index fund bet and also the Trinity study. Think those are both decently digestible by 14 year olds.

 

[Kemba'sYogurt]

Maybe TD Ameritrade's think or swim? It's a really good program and has a paper money platform. But I'm not sure how easy it would be to set it up for a class.

 

[Goatmeat]

Tell them to just buy Vanguard index funds and then there’s nothing to worry about in the future. Class dismissed.

 

[Da_Aisijimo_Gou]

Helpful personal finance links:

Personal Finance and Financial Basics | Fidelity

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www.fidelity.com

Guide to Personal Finance

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[temery]

Ask here, you may get better results:

Reddit - Dive into anything

www.reddit.com

If you need to kill class time, look into Junior Achievement (sucked every time they came in), or asking parent volunteers who work in the industry (most will be more interested in passing out their business cards to teachers than doing anything helpful).

 

[Jaker]

Tradeview has a great free paper trading similator.

 

[superjohn]

Michael Milken has a great platform for young investors.

 

[husky429]

Yeah should teach about the Warren Buffett index fund bet and also the Trinity study. Think those are both decently digestible by 14 year olds.

That's definitely on the list!

 

[CCSUblue]

Million bazillion podcast, add that to your curriculum. And planet money summer school podcast episodes.

 

[Woodson]

 

[Ant3411]

I always thought this should be a required class either in high school or college. At a young age people need to learn what credit card interest really is (or student loan interest), or how to simply fill out a 1040 tax return, etc…things that they will most definitely encounter in life. So many kids these days have no clue about personal finances when they hit the real world and it creates problems for themselves or they have to learn the hard way.

 

[husky429]

I always thought this should be a required class either in high school or college. At a young age people need to learn what credit card interest really is (or student loan interest), or how to simply fill out a 1040 tax return, etc…things that they will most definitely encounter in life. So many kids these days have no clue about personal finances when they hit the real world and it creates problems for themselves or they have to learn the hard way.

Fwiw it is a required class in many schools. Idk if it's mandated state-wide or not though

 

[CTBasketball]

Tell them to just buy Vanguard index funds and then there’s nothing to worry about in the future. Class dismissed.

I love this reply for a few reasons.

1. They usually make you money.
2. Everyone who talks trash about meme stocks doesn’t realize those Vanguard funds own them.

 

[Woodson]

Fwiw it is a required class in many schools. Idk if it's mandated state-wide or not though

I can’t tell you how much I wish I had been able to read “How to Think About Money” back in high school. It’s a quick/short read, I’d give it a look. Close friends of mine consider it their bible

 

[Husker Husky]

Teach them them the difference between mutual funds and ETF's. Explain how the mutual fund trades are "end of day" while ETF's trade real time. THEN, go into the trailing stop loss and how the ETF will (hopefully) avoid catastrophic loss while the mutual fund can devastate you.

 

[husky429]

Teach them them the difference between mutual funds and ETF's. Explain how the mutual fund trades are "end of day" while ETF's trade real time. THEN, go into the trailing stop loss and how the ETF will (hopefully) avoid catastrophic loss while the mutual fund can devastate you.

Mutual funds, index funds, ETFs, etc and stocks are on the menu. Trailing stops are probably above their heads in 8th-grade. I've got about 75 days to teach all of personal finance including making budgets, bills, taxes, retirement, investing, home buying... all of it. Definitely gonna need to prioritize the basics

 

[Husker Husky]

Mutual funds, index funds, ETFs, etc and stocks are on the menu. Trailing stops are probably above their heads in 8th-grade. I've got about 75 days to teach all of personal finance including making budgets, bills, taxes, retirement, investing, home buying... all of it. Definitely gonna need to prioritize the basics

I suppose so. But, I'm amazed at the number of people who are "in the market" that have no clue and are substantially at risk.