We meant to post this last Friday, but didn’t get around to it with all of our FinCon15 preparations. Be sure to follow us on twitter and Instagram for daily trip updates!
Twitter – https://twitter.com/mikeandlauren
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This week I take care of a couple projects/repairs that have been sitting on the back burner. 2 weeks ago I cut MDF for the first time on my X-Carve and walked away from it before verifying the settings were correct. It ruined the motor, but I’ve wanted to upgrade to the Bosch trim router anyways.
I had help this week from Ben who found our YouTube channel and discovered we live in the same city. Thanks Ben!
We were thrilled with all of the questions we got from teenagers wanting to invest in the stock market after our last video. Instead of answering everyone individually, we decided to make a video about it!
In the video we discuss how we would invest in the stock market if we were under 18. Keep in mind, we’re not qualified to give you this kind of advice. We just remember being young and confused. All we wanted was someone to spell out ONE WAY of investing, just to show how it works.
UPDATE: You need what’s called a “custodial account” at vanguard if you’re under 18. You have to call them to set it up.
More Info: https://personal.vanguard.com/us/insights/article/teen-roth-072014
Why Don’t They Teach This in School – https://goo.gl/wrDl29
12% Returns – https://goo.gl/y1XZJf
Vanguard – www.vanguard.com
Further Reading – https://jlcollinsnh.com/stock-series/
Dave Ramsey says you can expect a 12% return from the stock market. Naysayers say you can expect zero and the economy is about to collapse. We say….it’s probably somewhere in the middle.
This is a follow-up to our unintentionally controversial video last week about the power of compound interest.
Why Don’t They Teach This in School? – https://goo.gl/kAYaEM
IndexView – https://thume.ca/indexView/
Mr. Money Mustache 7% – https://goo.gl/fz18DG
Simple Dollar 7% – https://goo.gl/xyvTuf
My shop is a mess. The biggest problem is all the lumber scattered throughout the workshop. I’ve got full sheets of plywood next to small piles of hardwood. Today I did something about it and built a custom lumber rack! It has vertical storage for plywood, trim, and bins for other scraps.
I built this without a plan and as a result some of my joinery wasn’t the strongest, but once everything was tied together it was very sturdy.
This morning we realized we’ve never shared the most important thing we’ve ever learned about money. I was 17 when I first heard about compound interest from Dave Ramsey and it’s the reason we care about personal finance today.
In the video we explain why it’s so important for young people to learn about the magic (and danger) of compound interest. Even 5 or 10 years can mean a difference of millions of dollars.
Please share this story with anyone who you think might need to hear it 🙂
Dave Ramsey Article: https://goo.gl/00EKYf
Our church’s high school group needed some benches for their meeting area. I decided to copy Louis Lim’s ’round and round’ contemporary bench design, somewhat successfully.
I had trouble figuring out how to measure the “skin” that goes around the base of the triangle. I think I was trying to make a “truncated cylinder” but I couldn’t quite get the dimensions right. Ultimately trial and error prevailed.
Louis Lim (Original Design) – https://www.makingworks.com/
UPDATE: One of our viewers Joseph Malovich figured out the math for us in Solidworks. ?Here is his design. ?Thanks Joseph!
