It is possible for children to purchase stocks as investments. However, they have to have an account called a custodial account. This type of account requires that an adult, or one of the child's parents open the account for the child. Nevertheless, the same fees are involved when purchasing the shares. In the case of a child, searching around for ways to save on the transaction fees it advisable since the amount invested will be relatively low compared to adults.

The world's stock markets have lost around 40% of their value this year as a result of the global economic crisis and fears of a global recession. It really is a substantial fall. However there is still money to be made in my view, but I think it's important that you only invest in quality shares if you're hoping to make decent returns.

By quality shares I mean huge companies that have got a long historical record of increasing both their earnings and dividend payouts year after year. Ideally you should be looking to invest in market-leading companies with little or no debt, who are well placed to get through this forthcoming recession relatively unharmed.

Research has proven wealthy people generally have commonalities. Prosperous people have certain thoughts about money and their ability to obtain wealth. Society teaches conventional wisdom; get a good education, and get a secure job. Unfortunately this conventional wisdom leaves ninety percent of the people still broke or working at age sixty-five.

The days are long gone when a person graduates college, gets a good secure job, works it for thirty to forty years and retires with a nice pension. Job security just isn’t what it used to be. Prosperous people don’t believe in working hard, they believe in working smart. And, they know they will never get rich working for someone else or in their own business where they have to be present for it to operate daily. True wealth is having money and the time to enjoy it.

Another terrible misconception that many people have is the idea of that income and wealth are synonymous. I'm here to tell you they aren't, and they never have been.

Income is defined as "an opportunity for consumption which is provided within a certain period of time, expressed by some set monetary amount." If you compare this to the definition of wealth , you can clearly see that the two are not the same. Yet, you would be surprised by the number of people, even those who make hundreds of thousands or millions per year, who think the two are the same.