Morningstar, the leading company for mutual fund information, has an excellent article featuring Christine Benz, Morningstar Director of Personal Finance and a Boglehead supporter. These are excerpts:
Why Young Investors Shouldn't Dabble In Stocks"some of the apps like Robin Hood have done a good job of kind of gamifying investing in the market. So they've made it fun, they've made it playful."
"if they can invest in a diversified broad basket of equities, that probably gives them a better runway to earn good long-term returns over their very long time horizon. So my advice would be to skip the individual stock investing and move straight to a broad basket, maybe an index fund or a target-date fund."
"And I think it's also important to talk to young folks who have a salary about the virtue of using some tax-sheltered investment vehicle to do their saving."
"So I think if you have someone near and dear to you, explain to them the virtue of making sure that you have those short-term reserves on hand."
"Bogleheads is a fantastic resource for investors of all ages. I would also recommend a couple of books. I love the “Bogleheads Guide to Investing.”
"Well, it's interesting because at Morningstar we're big advocates of getting started early and letting compounding work for you. But day trading is probably not the way to do it."
"it reminds me, Susan, of so much of the early 2000s/late-1990s period, where everyone had to have a brokerage account and many investors had predictably awful results because they were just performance chasing. -- So I think starting broadly diversified makes a world of sense for a young investor."
Jack Bogle's Words of Wisdom:"If you're not investing, now is the time to start. The best single thing that can happen to young investors who are accumulating money is a major and sustained market decline."