 |
|
 |
 |
|
|
Forum
-> Parenting our children
-> School age children
|
amother
OP
|
 Yesterday at 10:33 pm
|
Would you allow that? Talking about small amounts of his money (under my name as he is a minor) Child is begging to do this (in general child is very into business ideas and how to make money...)
| |
|
| Back to top |
 0
 0
|
|
amother
Carnation
|
Yesterday at 10:35 pm
|
I let my kids do simulated trading. I would not allow real trading at that age.
| |
|
| Back to top |
0
4
|
|
amother
Marigold
|
Yesterday at 10:41 pm
Let him do paper trading on apps which means it’s fake money you get in apps
Not real money - it’s like gambling
They can get sucked in.
| |
|
| Back to top |
0
2
|
amother
|
Yesterday at 10:43 pm
Not real money
Unless investing in for example mutual funds where the kid won’t touch it for years and years
Maybe a CD that’s locked in for a year
| |
|
| Back to top |
0
0
|
giftedmom
|
Yesterday at 10:45 pm
|
I would maybe allow something real safe and slow growing. I think it’s great to allow kids to follow their interests in a safe and controlled way.
| |
|
| Back to top |
0
17
|
|
amother
Plum
|
Yesterday at 11:11 pm
|
I would allow a small amount. How entrepreneurial of him!
| |
|
| Back to top |
0
13
|
|
amother
Seashell
|
Yesterday at 11:38 pm
|
No based on people I know who started young.
| |
|
| Back to top |
0
1
|
|
amother
Jasmine
|
Today at 1:46 am
I would invest for him in his name. I have a son who started around that age and he enjoys it so much. We research the stocks and discuss how much he wants to invest of his money and then my husband buys the stock. So my son can follow his stocks etc but cannot actually access or control it (yet). Every time he makes some money he can invest a little more if he wants.
I'm not sure exactly what kind of account it is but I believe it's some sort of custodial investment account.
| |
|
| Back to top |
0
4
|
chanatron1000
|
Today at 1:50 am
|
I'd allow him to invest but not to speculate.
| |
|
| Back to top |
0
2
|
|
amother
Mistyrose
|
Today at 2:06 am
| amother OP wrote: | | Would you allow that? Talking about small amounts of his money (under my name as he is a minor) Child is begging to do this (in general child is very into business ideas and how to make money...) |
My son wanted to buy some but my dh discouraged him because there is a monthly fee or smth? That you pay regardless of how much the stocks are earning you
| |
|
| Back to top |
0
1
|
|
amother
Natural
|
Today at 5:45 am
|
Yes. My kids start around there. We use an app and they research what sticks, etfs and funds they are interested in. Their allowance, once it grows large enough, can be invested if they have a healthy split between their savings and spend account. It's important to teach financial responsibility from a young age and we believe strongly in helping them grow their money together.
| |
|
| Back to top |
0
2
|
amother
|
Today at 6:09 am
|
Yes! I think it's a great idea to put some money into a stock fund or to buy some safe stocks and hold. This should be done with adult supervision and research and as a learning experience. My dh and ds did this together when he was in 5th grade. The money grew very nicely and BH he just used it to buy an engagement ring! Fortunately, he will also have some additional money left for related expenses.
| |
|
| Back to top |
0
4
|
amother
|
Today at 7:16 am
| amother Pumpkin wrote: | | Yes! I think it's a great idea to put some money into a stock fund or to buy some safe stocks and hold. This should be done with adult supervision and research and as a learning experience. My dh and ds did this together when he was in 5th grade. The money grew very nicely and BH he just used it to buy an engagement ring! Fortunately, he will also have some additional money left for related expenses. |
Wow cool dh bought my ring selling stocks as well
| |
|
| Back to top |
0
2
|
|
amother
Chartreuse
|
Today at 7:17 am
|
Yes my 11 has lots of stocks. We taught him about investing and we rather he put his money there than buy junk
| |
|
| Back to top |
0
1
|
|
amother
Navy
|
Today at 7:19 am
| amother Pumpkin wrote: | | Yes! I think it's a great idea to put some money into a stock fund or to buy some safe stocks and hold. This should be done with adult supervision and research and as a learning experience. My dh and ds did this together when he was in 5th grade. The money grew very nicely and BH he just used it to buy an engagement ring! Fortunately, he will also have some additional money left for related expenses. |
I also have a son like that and would love for him to invest in something wholesome.
I am illiterate with stocks though.
Can someone tell me where to start? I would so appreciate.
| |
|
| Back to top |
0
0
|
amother
|
Today at 8:12 am
|
Look at Vanguard and Charles Schwab.
| |
|
| Back to top |
0
1
|
justforfun87
|
Today at 8:32 am
|
When my 12 year old son earns money I encourage him to give maaser, put some in the s&p 500, and keep for something he wants. I think this is a healthy balance of money.
| |
|
| Back to top |
0
2
|
cfriedman2
|
Today at 10:21 am
|
yes, but I would have her follow stocks shes interested in for about 2 months checking the reports daily before investing. Have her learn about the process and tracking stocks so that she knows what she is doing
| |
|
| Back to top |
0
0
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
