How old do you have to be to buy stock shares? I am 14 and interested in this for earning money for university, i have a few thousand dollars I can afford to play with. My dad is a stock expert so he can help me. Also, Im interested in mutual funding. How old do you have to be to be do that?
2007-02-19 07:50:03 · 5 answers · asked by мεlіѕѕα 2 in Business & Finance ➔ Investing
You have to be 18 to enter into any sort of legally binding contract, but that doesn't mean you can't still buy stock. Your parent can sign up as a custodian of your account. If you wanted to start planning for your retirement, you could open a ROTH IRA and any gains you make while trading stocks would be tax free, but you wouldn't be able to touch the money until you were 55. If you're more interested in doing things short term and getting spending money for a car or college, then a standard trading account would work.
2007-02-19 08:06:13 · answer #1 · answered by torklugnutz 4 · 0⤊ 0⤋
oneshare is a novielty store that sells stock certificates not serious investing. Now I agree in THIS case sharebuilder will be your better option because you can have the dividends reinvested and play a flat rate each week/month whatever and you can get fractional shares out of it as well. Don't subscribe to their plans but go with sharebuilder.
2016-03-29 03:05:44 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Set up a fund with you father as custodian. An education IRA or ROTH IRA is the way to go if you have earned income. Then you can invest in anything that you like.
2007-02-19 11:05:52 · answer #3 · answered by Charles C 2 · 0⤊ 0⤋
You have to be of an age to sign legal documents, usually the same as drinking/voting age...BUT... your father can open a trust account for you and buy on your behalf until you are of age to handle your own affairs.
Start by dealing with your bank for Mutual Funds
2007-02-19 09:19:36 · answer #4 · answered by bob shark 7 · 0⤊ 0⤋
78 years old.
2007-02-19 07:52:53 · answer #5 · answered by Tyrone 2 · 0⤊ 1⤋