How would a teenager get into investing?

Question

I'm a responsible 16 yr old trying to start my investment portfolio. I already have a bank account and my parents were amazed at my ability to manage my money. Therefore, I figured I'd take the plunge into investing. What annoys me though is that I'm just about completely responsible for myself but the government bonds I hoped to buy were unattainable, said I was underage. What CAN i get into?

Answer 1

you should be able to get into any stocks under your parents' names because they can oversee the account as you are underage you can still have it be yours just with parental advisers

Answer 2

get your parents to buy you a bond. i think the stock market is to volatile for an amateur and will discourage you. buy a bond. go to prosper.com and lend money to someone. you set the interest rate etc. butyou would need your parents to sign up. ALso, start a small business, sometimes its good to nurture your own money than leaving it to "pros"

Answer 3

Have your parents (or guardian) buy it in your name

You have a couple of years at least so you may as well collect some returns until you're legally able to manage it on your own  

Answer 4

i suggest, you start from beginning. you can choose simple investment with overnight income.

Answer 5

hi

i am ibrar, investment advisor from chennai.

you can start a joint demat account and invest directly into shares or mutual funds bcoz when anyone good at money managment these two products will give excellent response and help you to grow your money and create wealth as per the saying

" MONEY WILL GENERATE MORE MONEY".

if you are interested to create wealth i can suggest you the best suited investment portfolio. you can contact me, my id is [e-mail].

thanks

bye

Answer 6

At your age, you cannot open a brokerage account by yourself so you will not be able to buy stocks, bonds, or mutual funds.  However, you can open a joint account with one of your parents and still be able to manage your own investment portfolio.

I currently use Firstrade ( http://www.firstrade.com ) and I believe it is an excellent online broker for beginners.  Their website is easy to use, their customer service is excellent, and they don't have any minimums so you don't have to worry about risking too much money.