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Best app for kids to get into stocks?

Honky Lips

Honky Lips

Welcome to the shit show.
Joined
May 21, 2020
Member Number
876
Messages
371
Loc
Omaha, Ne “ish”
My boy gets $100 to pick a stock for his bday from his grandpa. He used to use stockpile for it but now there’s a $5 a month fee for the parent.

Any better way to get him into a stock app he can kind of learn and requires parental approval for stuff?
 
You would be better teaching him to dollar cost average into exchange traded index funds. Not trying to pick individual stocks.

Every major brokerage I use has free kiddie accounts - suspect the parent needs an account to qualify. Check with your brokerage.

SPY or QQQ’s

Or something like VOO is you are with Vanguard (tracks SPY and pays dividends)

95% of all adults would be better adding $100 a month to a handful of ETFs than they would picking stocks or paying a broker or financial advisor to do so.
 
Is something wrong with e-trade or others?
 
A subscription to the Wall Street Journal is equivalent to an MBA if you have enough patience.

And patience is what it takes. Day traders are fleeced by those that have bigger wallets, better algorithms, and way more ways to flip stocks.

I am part of the "buy and hold" mentality. Utilities are always a winner; big tech has been hit or miss, and a big FU to Boeing.

If you want to teach him the game, $100 is not too much to lose.
 
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Best app for kids to get into stocks?​


Unbelievable...

How did we ever survive our childhoods before "apps", sailfoams, puters :zzz:
 
Not a great time to be getting into the market, ever wonder why gold is up 500.00 in the past few months ?

Market is gonna crash real soon!

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My Daughter (15 now) has a quite impressive portfolio now for her age

it started as a trip to Disneyland at 8 years old. The conversation came up that she could be (or anyone) can be a owner as a stock holder
She can home, and purchased two stocks. Her Financial Advisor was impressed enough that he sourced an actual old paper stock from the old times, I have no idea where he got it, but it still hangs framed in her room

That led to dividends, that led to her noticing other brand names (her next one was 3M) and she purchased a few of those stocks, more dividends, and she is slowly increasing her value

As she got the concept on the thought process of investing she switched to Mutual Funds, not as cool (or fun) as far as names go, but she actually grasps what they are, and the returns the last few years have been double digits. And it is cool to say that you own a particular company like 20th Century Fox

Grandparents and seeing her money management skills, and for Christmas, she usually gets the extra 100 for investments because they know they are not throwing money away

Also, I sat the kid down and showed her a compound interest chart with her specific numbers entered into it, and her eyes bugged out :laughing:


She works part time here and there, she sends 10% of her take home to investing without thinking about it now

Get a good financial advisor that is more teacher than anything. He knocks the fees down as much as he can for her
 
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I kicked ass in 6th grade class exercise during the 80s. We used a newspaper and a little intuition... plus group being 'retarded'. Let's just say Playboy pulled our portfolio up:lmao: I want to say our group was 2nd in class for gains:homer:
 
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