I have $100 and im not looking to be a millionaire or anything I just want to start Investing.
First of all, you cannot have your own stock account until you are 18.
BUT… Your parents can help you open a custodial account that will be fully transferred to your control when you do turn 18.
Now, you can do one of two things to invest in stocks. The first is to go to an online broker. However, with only $100, you won’t be able to buy very many shares and the fee will really hurt you. The second possibility is to go to a company’s website and directly buy shares. This is usually free (I haven’t found a company that wasn’t). Another thing to note is that it is mostly only large companies that do this such as Proctor and Gamble and Exxon Mobile for example. But due to the fact that you only have 100 dollars, these are the safer companies that you should look at anyway.
Oh, and make sure you sign up for automatic dividend reinvestment (also known as DRIP). This will really pull in some serious returns for you if you hold the stock for a long time.
Good luck!!!
The law says that you must be 21 years of age.
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You must be 18 to have your own account but your parents can set up a custodial account for you at any age. Just go to any brokerages web site and apply.
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both cases NOT true. You can invest at 15 but in reality $100 is really a very small start. Most brokers require at least $500 to start. Your best bet right now is put it in a decent savings bank and do not touch it.
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First of all, you cannot have your own stock account until you are 18.
BUT… Your parents can help you open a custodial account that will be fully transferred to your control when you do turn 18.
Now, you can do one of two things to invest in stocks. The first is to go to an online broker. However, with only $100, you won’t be able to buy very many shares and the fee will really hurt you. The second possibility is to go to a company’s website and directly buy shares. This is usually free (I haven’t found a company that wasn’t). Another thing to note is that it is mostly only large companies that do this such as Proctor and Gamble and Exxon Mobile for example. But due to the fact that you only have 100 dollars, these are the safer companies that you should look at anyway.
Oh, and make sure you sign up for automatic dividend reinvestment (also known as DRIP). This will really pull in some serious returns for you if you hold the stock for a long time.
Good luck!!!
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I am also a young investor. This is how you have to start out.
START WITH A INVESTMENT COMPANY. GO THERE.
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My brother started buying stock when he was 12. They did not realize he was a kid untill he tried to set up a margin account when he was 16.
There are several sites that you can invest in with $100. You just have to put your parents on the form as custodians.
Annother idea, judging from my cell phone bill, Verizon is a good stock to invest in. You can buy stock directly from verizon, just go to their web site and shareholder relations.
My brother talked my mom into buying this GTE stock when he was 16. Those Verizon shares will pay for our childrens collage education.
By the way, Warren Buffet started buying stock when he was 9.
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You can request your parents to open an custodial account and ask them to do the trades for you. If your parents agree then you can decide what to invest and what things you want to do. Good luck!
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I would use a simple strategy like trend trading. OpportunityBasedTrading.com has a simple and free strategy that works. Take ten minutes and read through the site. Starting young will allow you to compound your wealth over time, if you can make 15-20% per year you will be a millionaire.
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http://www.opportunitybasedtrading.com