Investment advice for high earning teenager

strawb_shortcake

There was a post awhile back where someone's son was in a similar position to your Son, not sure if they are still active but they may be able to help if the thread can be found. 

Retireby40

Footballers have a lot of free time. One of the biggest investments he can make is in himself. Maybe direct him towards some formal qualifications or something in the future like The Open University. At least that way if the football doesn't work out he's had one eye on another thing. 

Many footballers do degrees etc not just incase football doesn't work out but out of interest because they have a lot of time on their hands. Keeps them focused.

NottinghamKnight

Retireby40 said:

Footballers have a lot of free time. One of the biggest investments he can make is in himself. Maybe direct him towards some formal qualifications or something in the future like The Open University. At least that way if the football doesn't work out he's had one eye on another thing. 

Many footballers do degrees etc not just incase football doesn't work out but out of interest because they have a lot of time on their hands. Keeps them focused.

Good idea but shows how times have changed, remember Graeme Le Saux and his colleague's attitude to his education and choice of reading?

Genevieve29

Retireby40 said:

Footballers have a lot of free time. One of the biggest investments he can make is in himself. Maybe direct him towards some formal qualifications or something in the future like The Open University. At least that way if the football doesn't work out he's had one eye on another thing. 

Many footballers do degrees etc not just incase football doesn't work out but out of interest because they have a lot of time on their hands. Keeps them focused.

Good point but because of his age he is still in education at the moment anyway.

barnstar2077

I certainly have never earned anywhere near the kind of money that your lad will be earning, but from my first proper job I always had the mindset that my next job may not pay as well, so I should get my ducks in a row early on.  The philosophy has worked out well for me.  It could even help to improve his game.  Knowing he is in a solid financial position from an early age (while others squander their money) will no doubt allow him to concentrate on his passion unfettered by the concerns us mere mortals have to contend with on a daily basis! : )

HansOndabush

If I were him, I would invest it in fast cars and even faster women

Genevieve29

eskbanker said:

Does he have the option of structuring the arrangement via a limited company maybe?  This can offer substantial tax benefits versus being a salaried employee.

This has now been mentioned as an option for the future.

tryingtogetmyheadaround

Not to do with finance but cars......When it comes to cars...... Mercedes offer VIP's with very cheap cars...... they are 12 months contracts with no initial payments and are a fraction of the cost that a dealer will or any deal you will see online. Give Mercedes head office in Milton Keynes (not the dealer) a call, ask to speak with someone in the VIP department and they will get him through to a person that will supply a car on the cheap.