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How old should I be when I start investing on my own account if I want to have a future in finance?

Is there a minimum age you need to be in order to qualify to have an investment account? For high school students it’s hard to get started. Is it possible to start in 9th grade? If not, what can a 9th grader do to get started? #finance #investment-management #investing

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Steven ’s Answer

You should start as early as possible. Begin with a bank account and then consider a mutual fund. Many Funds allow you to start with $1000 or less to open a new account. Once you have opened an account make sure to review the materials that are sent to you by the Fund. Much of this information is going to be new to you but don't worry about that--try to familiarize yourself broadly with the material and call the Fund's toll free number to ask some basic questions.

Thank you comment icon earliest you can, save every dollar you can and invest in a roth IRA account or a brokerage. Mirza Baig
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Nick’s Answer

Hi Margot,

I think middle school age is a good time to start, but you do need your parents help. Start small and dollar cost average which means you invest a small amount each month. Do your research on the internet to answer your questions and once in high school take finance classes or budgeting classes to learn more and keep learning.

If it is a great deal of money, do use a financial advisor.

Good luck
Nick
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Katrina’s Answer

Hello Margot - Embarking on your journey into stock investment is exciting! The first step is setting up a brokerage account. Typically, you need to be 18 years old to do this independently. However, don't let age deter you! If you're younger, a parent or guardian can help you get started by opening a custodial account on your behalf. Remember, it's never too early to start investing in your future!
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Emmanuelle’s Answer

Hi Margot!


Steve is right in that you should start investing as early as possible. I started with a mutual fund in middle school and in high school opened an account with stocks. They key is to gather as much information as possible and to invest wisely. Since you're just starting out, you may want to choose safer investments that you will hold on a long term basis. When you open up your account, call your local branch and ask to speak with the branch manager or an investment professional. Most of them will be happy to speak with you about your goals and even make recommendations.


I hope this helps and great job getting involved early!
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Rose’s Answer

You can have an account in your own name, but be sure to keep your parents informed. Many financial institutions have lower minimums for minors. I would actually recommend that if you are interested in individual stocks, now is the time to take big risks, with small amounts and plenty of time before you need to withdraw funds. You will usually pay to buy and sell, so minimize fees by doing research ahead of time. Look into measures of volatility and learn how to balance a portfolio.


If you have a significant amount to invest, ask your investment advisor about tax and financial aid consequences. That may help you and your parents decide whose name the account should be in.
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