*This is not a sponsored post – just good tips!
As my daughter gets ready to wrap up her junior year of high school, I often worry about how she is going to do when she is required to “adult”. We just had a conversation this morning about how to replace the Social Security card she lost, and while it’s hard to not swoop in and rescue her, I am having her figure out what she needs to do to replace it. Financial literacy is also another topic that I think about a lot – am I equipping my daughters to know how to handle their finances? I know no one ever taught ME any of that stuff when I was younger. Now, there are a lot of tools and websites to help you out as a parent…check out these five tips from Avi Lele, Co-Founder and CEO of Stockpile, meant for teens and kids who want to start learning about and investing in the stock market! (Cool, huh?)
Most people put off investing in stocks because it seems intimidating and expensive — and many never end up doing it. But the earlier you start, the more likely you are to build some serious wealth. Here are five easy tips to help kids and teens get started.
*Source: S&P 500 rate of return
You’ll also want to make sure you won’t be paying big monthly fees or trading commissions because they’ll eat into your investment return. Stockpile doesn’t charge a monthly fee, and the commission is just 99¢ — not the $7.95 you might pay elsewhere.
Finally, you’ll want to keep track of your investments on your own, without having to bug mom or dad. Stockpile is the only brokerage that allows kids and teens to use their own login to check up on their stocks and place trades that go to mom or dad for approval. It’s like being a student driver – you get to be in the driver’s seat, with an adult as your co-pilot.
About the Author
Avi Lele is the Co-Founder and CEO of Stockpile, a company whose mission is to make the stock market accessible to everyone in an easy and affordable way.
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