Investment strategy for 19 yo
My 19 year old nephew has moved in with us and I am trying to teach him about investing. To start with we are trying to teach him investment discipline, putting away 10% of his weekly earning into some kind of savings plan before he spends any of the earnings.
I have showed him how REI works, and we did a few examples of how purchasing a duplex as his 1st home can lower his cost of living dramatically.
I have also showed him how to create a monthly budget and track his expenses in order to help him understand where his money is going.
But in the short term what kind of investments should I be showing him to help build his nest egg towards the purchase of his first property.