When should you open an investment account for your teen?

With the ability to buy fractional (partial) shares you can start with very little money

Education your child about saving, investing, investing and the value of compounding early in life can help set them up for financial independence.

This story illustrates the importance of saving and investing.. Financially IndependentTeens includes many stories as the book covers the basics of what every young person should learn about money, budgeting, credit, investing, their first job, entrepreneurship, and how to plan for a successful financial life after graduation.

“Rachel knew for a long time that her parents would not pay for certain things such as a car. When she started babysitting at age 12, she decided to always save at least 50% of her earnings so that she could buy a car when she turned 18. Rachel’s father did some small investing in the stock market, usually with a stock club, and he subscribed to the Wall Street Journal. Once Rachel started saving, she was able to attend some stock club meetings with her father. The advisor would recommend a stock and give its expected high value at which point it was recommended to sell. Rachel would read more about the company and decide whether to invest in it or not. The first investment she made was in a soft drink company (later bought by Coca-Cola) that traded at $2.30 a share. The advisor expected it to go as high as $6 a share. After 6 months it reached $5, and she sold. She continued reinvesting the money in new stock picks until she graduated from high school, at which point she had enough money to buy a new car

Check out one current offer Open a Fidelity Youth Account - We Drop in $50 for Your Teen

Please see Fidelity’s site for terms and restrictions. The below story is for one positive example.

Check out our books sold on Amazon. The series includes Financial Essentials, Raising Financially Independent Children, Financially Independent Teens and Financial Essentials for Couples. Also, visit our website https://parentsfin.wixsite.com/website/books or on Amazon

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