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Investments for Kids
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Mamawizzy
Posts: 1 Newbie
Hi, my 14yo wants to get into stocks/shares/investments which is something I am clueless about. Is there anyway I can get him involved. His birthday is coming up, he wants a custodial account, will this satisfy his interests?
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Hi, my 14yo wants to get into stocks/shares/investments which is something I am clueless about.
Does he have a CTF/JISA?
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Set him up with a dummy account on Trading 212 ?
Caveat - Could lead to dangerous sense of confidence and ability, then it goes tits up when real money is involved.0 -
He is not old enough to enter in a contract. So, he cannot open investment accounts.
Its great he has an interest but equally, it's very strange to see a 14 year get interested in investments. Investment research is boring and watching investments is boring. You need to be careful that he isn't looking at "trading" sites which promise massive wealth for doing virtually nothing but nearly always result in people losing money (often more money than they initially invested as they include gearing). These are usually unregulated sites (so no consumer protection) and inexperienced investors often get caught out through greed and poor knowledge. They make "investing" sound like fun but it's not investing and is more like gambling.
So, I would find out a bit more about what your son is looking at which has generated this level of interest. You could inadvertently, be effectively helping him get hooked at gambling.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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