Is there a way for a 15 year old investing in his money?

Question

pleaes explain how

Answer 1

Your parents have to open accounts and such.

One investment is spending money and time on books and such. The question should have read "how may a 15 year old invest money". I am not being mean but instead am making a point.

The best investment that you can make now is to learn. Later you can use this to make 10 times more than anyone else.

But by all means if you have a bit of money just stash it in a bank account and pretend it does not exist.

Answer 2

My advice would be to keep your money safe and not invest it; for the time being that is. Instead, open up a demo account {Almost all brokers that I have looked at offer these} and then practice practice practice until you are familiar with the working of the respective market(s) and you have a clearly defined set of rules to follow. Only then should you put your hard earnt cash on the line, else you are most likely going to get burnt due to inexperience and naivety{I should have, but I got VERY lucky :-)}.

As said above, read some books but do not put too much emphasis on what you read. You own experiences and observations of the market(s) are far more valuable than anything you will ever read.

I say this as someone who has been trading/investing in currencies through an account opened in the name of my Dad since the age of 14 {I nagged him to death to get him to open it :-)}.

Answer 3

Sure...you would just have to have a custodian on the account - one of your parents. This may limit your ability to withdraw funds without their presence, but they can definately help you get an investment account open.   It will just be held under Mr. smith, custodian for John Smith.

Answer 4

If you have earned income, and can prove it to the IRS, you are eligible to open an IRA.  However, you are likely under the age of majority to purchase securities in your state, and would likely be confined to mutual funds.  You can also open a custodial account with your parents, which will be turned over to you when you do reach the age of majority.  This site offers resources for information on custodial accounts and IRAs.  Good luck!

http://stockmarketresources.blogspot.com...

Or, use the main page for investing education: http://www.stockmarketresources.blogspot...

Answer 5

you need to go through your parents