Investing at an early age
My 12 year old wants to invest in something long term. He has around $1000 Where should we start?
Terry Says
You can open an account with Fidelity — specially designed for young investors:
https://www.fidelity.com/go/youth-account/overview
An adult will have to act as custodian for the account. And if he makes enough money it will have a big impact on his eligibility for financial aid for college. But that’s down the road!
Assuming he has an interest in investing, he can research stocks at Fidelity and choose a few shares of a company that makes a product he uses. That will keep his attention — and teach him risk andreward!
