How old do you have to be to invest in stocks and bonds and how do you start please help?

Answer 1

18-21 for all states.

As far as starting, I can't stress this enough...........
Research, research, research.......Before you buy or invest.

Know what the company does, what potential for growth, how long it has been in business, does it pay dividends, etc....
And decide if you want to invest for the long term growth or short term profits.

Many old and established companys have still went bankrupt/belly up and some come back and some dont.

Kmart, Wynn-Dixie, Montgomery Ward and several airlines have all gone bankrupt in the last 10 years.

I would suggest this for any stocks you are considering buying.
Since you already have a Yahoo account, go to yahoo finance and create a portfolio. Set it up for performance view. It will be a fantasy one, but that's OK. Enter the stock symbols and the price it is selling for today.

Check it once a week or so and then at the end of a month or 2 see how much money you would have gained or lost.

Then go out and buy stocks for real based on what you have learned. Set up with an internet stock company like Scottrade or etrade that doesnt charge much ($7 a trade)

A final note: Never invest money you cant afford to lose. Stocks do go down as well as up.

Good luck

Answer 2

You have to be over 18 to open your own account. But if your under 18 an adult can open a Custodial Account for you. This is often called UTMA (Universal Transfers to Minors Act).
The money is to be used for the minors benefit or after the minor reaches a certain age, 18 or 21 depending on the state, the former minor gets full control of the money.

Another option is the Coverdell Savings Account - ESA.
Its kind of like an IRA but the money is used for higher education and not retirement. Here a parent or guardian needs to open the account for the minor. The nice thing about this is that all the money earned in an ESA is tax free. Even when you pull the money out (currently)! There is a cap to how much you can put in there each year though, $2000.

The nice thing about these two accounts is that once the money is in there you can invest in just about anything; stocks, bonds, mutual funds, CDs, money markets, etc. If the parent or guardian wants to they can let you manage the account yourself!

Answer 3

I think you have to be 18. The best way to start is to find out if your company has a 401k. If it does then put as much money as you can in it. Employer often match a part of your investment (yes, they literally give you free money). 401k's are also good tax shelter too, but you have to wait to use the money until you retire.

If you know what you are doing, or are willing to learn, use a discount broker such as eTrade or Schwab (www.schwab.com). If you don't know what you are doing and don't want to learn you can go to a full service broker like Merill Lynch. However, the intial investment for a full service broker is usually pretty big.

Answer 4

Need to be 18 in most states. The best way is to go talk to a financial advisor, such as through groups like Edward Jones, or Merril Lynch, just check your local yellow page ads. Most of them do not charge you for initial consultation

Answer 5

1

Answer 6

age isn't an issue -- parents often set up accounts for young children (to save for college, etc.). I'd talk to them first. There's lots of on-line stock trading sites -- you might have to be 18 or have parental permission.

Answer 7

18 or 21 depending on the state, but you can open a custodial account that is joined with a parent.

Answer 8

I would recommend you to check the website below to learn more on shares and stock trading and how to select the best shares.
Hope it helps.

http://money-review-site.com/shares.html

http://www.money-review-site.com

Answer 9

21years old