News from the web:
Andrew Georgescu is a busy guy. The 16-year-old is an A-student at Mississauga’s Lorne Park Secondary School and an active member of the school’s stock market club. When he’s not doing homework, Georgescu referees hockey games around town and spends summers as a clerk at a Toronto company that provides tax and accounting services to small businesses. He earns about $5,000 for his efforts, a decent sum for a teenager.
Rather than blowing his hard-earned cash on comic books and girls, Georgescu deposits every penny into his savings account. His parents give him spending money for movies and dates, allowing him to save for his favourite big-ticket items.
As he doesn’t yet invest in stocks or mutual funds and isn’t ready to open an RRSP, he’s content to spend about $1,000 a year on technology and hockey tickets and feels great that he can afford them.
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