“It was a whole family activity of us searching for it, and trying to use that $500 wisely,” Ms McCormick said.
Before that, Ms McCormick’s wealth accumulation strategy was tied solely to her ballet shoe piggy bank.
“I’d just filled it up with silver coins.”
Investing to learn
Ms McCormick, who reads The Australian Financial Review through her school subscription and hopes to go into investment banking, decided that in addition to a few sustainability-focused companies, she wanted to invest in cryptocurrency.
“I am investing now to learn and hone my investing skills for when it matters. With only a few hundred dollars here and there, and being solely dependent on my parents, losses from investments do not result in a major financial cost,” she said, although she admitted that the losses do, however, sting her pride.
As the cryptocurrency market swells to reach $US2 trillion, retail investors need to be aware of the…