I turned 17 , 7/14/08 Am I too young to buy stocks and trades?

Question

I turned 17 , 7/14/08 Am I too young to buy stocks and trades?

Answer 1

You shouldn't even consider age when it comes to making money.  Stocks and trades when invested in successfully don't care how old you are!  Money doesn't discriminate so go for it!

Answer 2

i think you can try overnight income stocks. it more simple, workable and profitable.

Answer 3

I have traded a long time, since before I was 18. Your parents must set up the account for it to be legal, if that is what you're asking.

If you're asking if you're too young mentally, I surely think not. I made good gains when I was younger, I realized 8% gains my first year, with a potential higher % returns if I had the knowledge that I have now. It's important that you get in early, and play around. You learn a lot.

Always do your homework on your companies. You will not succeed without proper homework, and I dont mean reading the headlines. Remember, if it's in the news, you're too late.

Answer 4

It's never too young to trade stocks.  However, if you're under 18, you will not be able to create your own brokerage account.  To trade with a brokerage firm, you will need to create a joint account with one of your parents.

I currently use Firstrade ( http://www.firstrade.com/ ).  They are cheaper than big name brokers like Etrade, Ameritrade, Schwab, and Scottrade.  Their customer service is good and their website is easy to use, perfect for beginners.  You should definitely check them out.

Answer 5

To invest in stocks you need to sign legally binding contracts. You cannot sign legally binding contract until you are 18.

I think your parents can sign on your behalf though.

Answer 6

You can still trade, however you have to have a custodial account set up if you are under 18.

So you will just need a parent or guardian to sign up for a trading account with you and you will be able to legally trade stocks.

Answer 7

im not sure about those but i think thers something called mutual funds or something you put like 10 or 20 bucks in every week and it constantly grows and never go's down like the stock market and you could have over a million dollars if you start at 16 and end at 70 or some where around that

Answer 8

yes and probably too poor also - very risky investing now - start off with mutual funds when you're 18