The Motley Fool Investment Guide for Teens

Step 1. Set Goals (and Reach Them)

Success to me is having ten honeydew melons, and eating only the top half of each one.

-- Barbra Streisand

What does success mean to you? If you're like many teens, success might be excelling at school or in athletics, getting into and thriving at the college of your choice, preparing for a career you'll love, finding the perfect boyfriend or girlfriend, or just not making a complete idiot of yourself in public!

Since this is a financial book, think for a moment about what success means to you financially. Hey, we know that up till now, you might not have given it a moment's thought. So humor us. You might start by thinking, Success is...well...hey, I just want to be rich! So let's start there. How would you define "rich"? Today, 40 percent of the world's population, more than two billion people, struggle to live on less than $2 per day. Viewed from that perspective, you're already stinking rich. In that context, virtually all Americans are.

We asked a bunch of teens to define "rich," and the answers varied widely. Some tho ... read full excerpt from The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of ebook