Kids Investing
I want to introduce my 11 and 13 year old kids to the world of finances and investing to give them a good foundation for their future. I want to be able to show them side by side differences between various types of investments (ie. slow but steady growth with less risk vs. higher risk meaning higher losses and gains…). Any idea on where I should start with them? I have a Schwab ROTH IRA account for myself so could do something within Schwab potentially. Thank you for any insight. I always enjoy listening to you on radio 720.
Terry Says
While there were many places where you could get a child started on individual investments, I think Schwab has now cornered the market!
Click on this link to see their program geared to getting kids started using Schwab “Slices” of popular stocks.
And since you’re already a Schwab customer it will be even easier.
One more thing: If you open “custodial” accounts, beware the impact it could have on their eligibility for student loans in the future. Accounts in a child’s name weigh 7x more heavily against the family in the financial aid formula.
