Congratulations on wanting to get started. The thing with investing is that the earlier you start the better. Whilst starting 10 years ago would have been better, starting today is far better than starting tomorrow! And by starting today, you’re already far ahead of the rest of the population.
Starting investing is easy. There are many services that help people begin investing even if they just want to start small. By starting small and investing often, you start to build confidence and realize investing doesn’t need to be complicated. Invest in quality stocks and ETFs (exchange traded funds) that you believe represent a good future. The mix of these stocks and ETFs should be based on your risk profile but always keep these things in mind.
When thinking about investing, keep these rules in mind:
it is best to maintain diversification so no single investment’s performance can have an oversized impact your returns; be patient because markets rise and fall, you want to invest for the long term rather than expecting you can make money in the short term; and invest in quality companies, index funds and themes that you believe have a positive future.Stocks can be a great way to help kids to understand the world, teaching them about the companies and industries that their portfolio is a part of. It’s a great way also to teach kids topics like diversification and patience, because markets rise and fall but historically speaking, continue upward over the long term as history has shown us. For those 18 and over , you can go ahead and open a brokerage account yourself with someone like Robinhood who offer free investing. There are others like Stash and Acorns, if you prefer simpler investing.
For those under 18, you will need to have an adult open a custodial account on your behalf. To do this, you’ll need their SSN and an adults SSNs. A custodial account is controlled by the adult until you reach adulthood at which point it becomes your own, so it makes sense that a parent or guardian helps them open this account.
Loved (Loved - Start Kids As Investors - Custodial Accounts For Kids) is one way in which you can open a custodial account for a child, achieve financial goals for the future, build a portfolio with your parents and then learn financial education for the future.
Hope this helps
Founder at Loved.com - Starting Kids Investing Early, Commission Free