2006-10-06 02:41:15 · 9 answers · asked by stoic 1 in Business & Finance ➔ Investing
I have my son's Coverdell Education Savings Account at Scottrade and invest it in Mutual Funds and stocks.
2006-10-06 06:24:32 · answer #1 · answered by Anonymous · 0⤊ 1⤋
You sure can and I think its great you are starting so young!
If you have say $1000 and want to open up a Roth IRA at Vanguard for your retirement, you could purchase Vanguard Total Stock Market Index [VTSMX], which is trading at $32.46 right now and is a solid first time purchase.
Vanguard also offers plans as low as $50 a month that would allow you to add money into your fund, withdrawn from your checking account.
I would stick with Vanguard or another mutual fund that doesn't charge you a commission to buy the fund or sell the fund and has a low expense ratio. In short, some companies with charge you 5% to buy their product, charge you 5% to sell their product and 1% to manage their product. You want to find a company with low fees like Vanguard or T. Rowe Price.
Ask another question with some more detail and the board will be able to help out even more!
2006-10-06 03:27:40 · answer #2 · answered by JRockLC25 2 · 0⤊ 0⤋
Actually, anyone can invest in mutual funds. Student or otherwise if the have the necessary funds. If the student is under age, he will have to have his parent purchase it for him as a uniform gift to minors. But that is a mere technicality.
2006-10-06 04:03:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
hi Mutual Fund is such as a "cooperative keep" in the experience - all small investments are pooled and invested in a portfolio of investment that could not be delivered by using any of the guy contributory. A small investor can not purchase a portfolio of investments. He can placed money right into a single enterprise. If the enterprise fails; he loses each and every thing. In mutual fund; the earnings does not rely on single enterprise as there is portfolio of investments. hence the disadvantages are decreased by using diversification which isn't attainable to small investors. subsequently mutual money are secure in the experience it has lesser threat than making an investment on a single enterprise's shares. in spite of the undeniable fact that it additionally has many destructive aspects - please examine the supply record intently. Yours VN
2016-10-18 22:14:22 · answer #4 · answered by genthner 4 · 0⤊ 0⤋
Student is a very vague term. As far as you are above the age of 21, you can sign the application form itself otherwise, your guardian should sign the application form.
2006-10-06 03:20:03 · answer #5 · answered by cvrk3 4 · 0⤊ 0⤋
If you are minor then you have to invest through your guardian and if you are major there is no restriction for students.
2006-10-06 03:27:03 · answer #6 · answered by rn_pandey1 1 · 0⤊ 0⤋
You can but the thing is you must be over 18.
2006-10-06 13:32:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
yes you can independently if you are 18 years of age
2006-10-06 06:50:04 · answer #8 · answered by Arun G 2 · 0⤊ 0⤋
I think you can. Ask the fund salesman.
2006-10-06 02:44:19 · answer #9 · answered by Ralfcoder 7 · 0⤊ 0⤋