Ask Terry Questions investment for children

investment for children

By Terry Savage on January 04, 2015 | Investments

My 14 year old son is interested in purchasing stock. Is there an age requirement for purchasing stock? Can you recommend a good place for him to research stock before he makes an investment?

Terry Says:  There’s no age requirement, but you’ll have to “title” the account in your name, as “custodian” for your son.  Probably the easiest, and least expensive, way for him to open an account is at — where there is no minimum purchase requirement, and a very low fee.  I should mention, just in case, that money in a custodial account like this weighs 7X more heavily against you in the Federal financial aid formula — just in case he makes a small fortune with his investments!



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