How can a teen start a mutual fund?

Question

I am 14 years old and I am looking to get into the stock market (I have already started on a website that runs a simulator, which uses the real stock prices, and have gone from 1,000,000 virtual $ to 1,300,000) and in order to make money, get experience, and possibly create a career for myself, I want to start a mutual fund. How realistic is this for a 14 year old to set about doing? How would I start? Please answer these questions and give me some advice if possible. Thank you.

Answer 1

Good for you kid, I guess I would take your info ( like what you said here ) and talk to a broker for starters. Let them know you aint kidding around. Dress nice and show them your 'virtual' portfolio. With a 'you are not gonna take no for an answer' attitude.

Answer 2

not gonna happen.

not only will you not get SEC/NASD approval, but nobody is going to invest with a kid who's only experience is a pretend portfolio online.

this is a good long-term goal (when you're 40-50), but isn't going to happen anytime soon.

sorry.

Answer 3

I know there are resources out there for teens, but you will have to have parent/guardian permission to enter into contracts for stocks, bonds and mutual funds. Reading and researching is the best way to learn. Here is a book I recommend, maybe you could find it at a library:

The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of (Motley Fool)

Also see the links below for investing information.

Best of Luck, don't let anyone stand in the way of your dreams or goals.

Answer 4

I don't believe a minor is legally eligible to do so.

Contact the SEC