Brokerage Account For Child
The first (and most important) thing you need to do to start investing as a kid or teen is create a brokerage account. Other brokerage accounts don’t allow kids and teens to invest. Believe me, I know what you’re thinking right now: you can’t fake it. If you did, you would be getting a lot of jail time. I recommend a few brokerage accounts for kids and teens, which are listed below:
- Greenlight: This is one of the best brokerage accounts for kids and teens that’s easy to use for kids and teens. In addition, Greenlight has some cool other features such as a debit card for kids and teens (in addition to the brokerage account for kids and teens with the brokerage plan), automated allowance, and a savings account for kids and teens. It’s also easy to get your parents on board, just leave them with the website on for a few minutes and they’ll give you the ok. Also, remember that you don’t have to get a debit card if you’re parents don’t want that. Use our referral link at https://share.greenlight.com/9268582 and get $30!
- Fidelity Youth: This teen exclusive brokerage account requires you to be thirteen years old, so I haven’t used it yet. From what I’ve heard, it’s great. It also includes a debit card and a savings account. Once you turn eighteen, the account becomes an adult investment account for free. Check it out at https://www.fidelity.com/go/youth-account/overview
Also, remember that if you don’t like either of these you can always use any other brokerage account under your parent’s name, just make sure to ask permission.