I got a question from a reader a few days ago about investing. He points out that the legal age to invest in the US is 18, and 19 in Canada. He said that he’s then confused as to how I and any other teen under 18 can invest!
My portfolio is my own, and so are my investments. Yet there’s a simple answer to this question. My investments are in my name, but are in trust from my parents. That means that legally, they’re operated by my parents, but they’re held by me. See? It’s a simple bypass of the system!
I’ve been investing since I was eleven. If you’re under 18 or 19, and you have maybe $500, $1000, or even $2000 just lying around in your savings account, ask your parents to set up an investing portfolio in trust for you! Don’t worry, you pick the investments. There’s no limit to the age you can invest at, because why would there be? Age plays no factor.
There are many benefits to investing at this age, but I can’t give away all my secrets at once! Stay tuned, or subscribe for FREE!
Question: If you’re under 18 (19 in Canada), do you have investments? Would you like to hold investments? Answer in the comments below!
July 30th, 2009
They can invest, but don’t forget to save! I’m 42 and still pick up pennies.
Rob´s last blog ..Another Con to Flash? An Optional HTML Site
July 30th, 2009
A valuable note! I have a jar of spare change that I use when I need, but since I’m not a vigorous spender, it just starts collecting tens of dollars!
July 30th, 2009
My brother just started investing the other day. He was laughing because he beat my Dad, who started in his 30s I think. I plan to beat them both and start as soon as I generate enough income. I’m terrible at saving moneys.
Corey Freeman´s last blog ..How to Decide Whether or Not to Become a Freelance Writer
July 30th, 2009
“I plan to beat them both”… a good attitude! I think that you can start investing really if you have $500.
July 30th, 2009
I use Sharebuilder. It’s awesome for a minor looking to invest as much money as they want, be it $100 or $10,000.
Ben´s last blog ..A 6 Step Guide for How to Edge With a Weed Eater
July 30th, 2009
That’s neat, but I think that I would trust a bank more. Thanks for the comment, Ben – and thanks for the post about weed-eating
August 1st, 2009
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