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Started By
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Investment account for teenager.
Posted on 1/11/25 at 1:09 pm
Posted on 1/11/25 at 1:09 pm
My son just walked the living room and said he wants to start investing!!
What is the best type of account to start. He has no employment. Is a brokerage account his only option?
What is the best type of account to start. He has no employment. Is a brokerage account his only option?
10
Posted on 1/11/25 at 1:11 pm to mikie421
Schwab account with brokerage tied to checking.
Posted on 1/11/25 at 1:12 pm to mikie421
Posted on 1/11/25 at 1:14 pm to mikie421
If you have the money, start a bullshite "business" and hire your son. Then "pay" him enough to max out a Roth IRA every year. Maxing-out a Roth as a teenager would have him big pimpin' in retirement.
Posted on 1/11/25 at 1:16 pm to mikie421
quote:
My son just walked the living room and said he wants to start investing
Bubble Confirmed...Prepare for a Crash
Posted on 1/11/25 at 1:52 pm to mikie421
This should probably be moved to the money board.
Tell him to read the Bogleheads investing guide for starters & research from there. Lots of rabbit holes he can go down.
Also he needs to get a job asap while he's motivated
Tell him to read the Bogleheads investing guide for starters & research from there. Lots of rabbit holes he can go down.
Also he needs to get a job asap while he's motivated
Posted on 1/11/25 at 1:54 pm to mikie421
A lot of sites will give you $100k in pretend money. You can use it to practice.
You can also set up a real, custodial account on eTrade and let him make his own investments.
You can also set up a real, custodial account on eTrade and let him make his own investments.
Posted on 1/11/25 at 1:55 pm to mikie421
Teach him how to use Think or Swim and get him an account. He can trade for real or switch to simulated trades and learn from that.
Posted on 1/11/25 at 8:29 pm to mikie421
Fidelity Youth accounts look like a good option. They have teen focused education modules w incentives and parental oversight tools etc.
Posted on 1/12/25 at 9:02 am to mikie421
Set up a custodial account and invest together. I have done this with my kids/grandkids. Split the money between a couple of individual stocks and a s&p500 index. Make a plan to review it periodically. I add to it every now and then and encourage them to do the same.
Posted on 1/12/25 at 7:07 pm to mikie421
Fidelity has been great for my teen.
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