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Investing for teens

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#1 cavman

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Posted 22 May 2020 - 04:32 AM

My 16 year old daughter decided she wants to start investing. I have little experience in this area so looking for any tips for a new investor. Obviously I will be setting up a custodial account with her as she gets started. Any advice is welcome; I was thinking to have her buy a stock amd possibly invest in a mutual fund as well as open a an IRA. Anything and everything would be appreciated.


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#2 DuncanDad

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Posted 22 May 2020 - 04:59 AM

I would suggest setting her up with a company like American Century Investments. They have multiple investment platforms including IRA, mutual funds and the like. One central account.


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#3 Patrick C.

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Posted 22 May 2020 - 06:00 AM

Put the bulk of it in an S&P500 index fund, or a low-fee growth fund.  You can let her pick a few individual stocks as well so she gets a feel for having some winners and some losers (or under-performers), but the long term best bet is an index fund.

 

Vanguard has a good explanation of each fund along with how they have performed.  You can sort by return over the past 10 years or the life of the fund to see how the different types compare over the years.

 

https://investor.van...nth-end-returns


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#4 TonyBrown

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Posted 22 May 2020 - 06:09 AM

Both of my boys were asking about this as well
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#5 neddles

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Posted 22 May 2020 - 07:02 AM

Vanguard
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#6 SnowMan

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Posted 22 May 2020 - 07:08 AM

Vanguard.  There is no better.  

 

Index funds.  No individual stocks. 

 

If they are working, ROTH IRA.  


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#7 cavman

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Posted 22 May 2020 - 10:20 AM

Good sounding advice guys. Thanks, I will definitely push her towards index funds though I feel she will want to try an individual stock in a small amount. Sounds like Vanguard will be the place to look first.
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#8 SnowMan

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Posted 22 May 2020 - 10:22 AM

Good sounding advice guys. Thanks, I will definitely push her towards index funds though I feel she will want to try an individual stock in a small amount. Sounds like Vanguard will be the place to look first.

 

 

Vanguard is stupid easy.  You can setup an account in all of 5 minutes.  


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#9 Genesee Ted

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Posted 22 May 2020 - 11:30 AM

How is her business going?

#10 cavman

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Posted 22 May 2020 - 11:57 AM

How is her business going?

Alright but she dialed back for school. Building back up now due to the pandemic.
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#11 Ineedacatscan

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Posted 22 May 2020 - 12:01 PM

Alright but she dialed back for school. Building back up now due to the pandemic.


I missed this. what was the business?
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#12 Genesee Ted

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Posted 22 May 2020 - 12:36 PM

I missed this. what was the business?

You won’t believe this lucrative work at home business!

#13 cavman

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Posted 22 May 2020 - 04:14 PM

I missed this. what was the business?

She has a successful Youtube channel and social media presence.


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#14 Dave McG

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Posted 22 May 2020 - 06:11 PM

She has a successful Youtube channel and social media presence.

Wait, you are JoJo Siwa's dad? My daughter wants her autograph!
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#15 cavman

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Posted 22 May 2020 - 07:10 PM

Lol
Not that successful
Think low six figures not 7 figures.
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#16 Dave McG

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Posted 22 May 2020 - 07:15 PM

Damn, for a teen I would be impressed with low four figures. Good work!
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#17 cavman

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Posted 22 May 2020 - 11:53 PM

Damn, for a teen I would be impressed with low four figures. Good work!

It was all her, I just buy her equipment to make it easier for her, but she wants to focus more on school as she will be a senior and college right after. So whatever she wants is fine, college tuition is already saved for her. It's her life to find her way.


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#18 cavman

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Posted 22 May 2020 - 11:57 PM

Plus her channel content will be hard for her to remain as strong as she is as it is geared toward young teens. She has had a good ride and is still doing well but it can't last forever. Her channel is changing as she matures but no guarantees of the same success. She knows that and has been adjusting. We will see what happens.


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#19 pods8

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Posted 23 May 2020 - 06:14 AM

She’s been earning 100k+ and is wanting to START investing? Wtf has been going on prior? It’s not all just in a savings account right?

Gonna be some steep taxes to earn that as a dependent.

Edited by pods8, 23 May 2020 - 06:14 AM.

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#20 Vagus

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Posted 23 May 2020 - 06:46 AM

She’s been earning 100k+ and is wanting to START investing? Wtf has been going on prior? It’s not all just in a savings account right?

Gonna be some steep taxes to earn that as a dependent.

Right now is a decent time to buy. Cav's girl is obviously playing ninth level demon chess while the rest of us stack toy blocks.  (well, at least compared to what i was doing at the age of 16)


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