![]() ![]() Just curious, how other board members feel about introducing stock market to my 10 yo and opening a brokerage account for him. I did tell him it is a risk and that when you buy, it is best to let it grow over many years (and reminded him of compound interest). Although, I am happy to teach him this stuff and proud he takes an interest and wants to save, I worry what if I make a mistake with his money. My son said, I want to invest in what you invest in. His friend (also 10 yo) parents let him have small account to invest in stocks in products he likes/uses. I showed him last year versus 5 year trends to track performance. I then talked to him about mutual funds and index funds how they are less risky because you are investing in many companies and recommended S&P 500, total market, or large cap index funds versus single stocks. ![]() I told him that I mainly use fidelity but Vanguard is also good broker. So I opened a new brokerage account in my name through Fidelity. I figured this could help me teach about investments. My son now wants to transfer his savings from HYSA to brokerage account. I am sure this guy has received stock options because it is all he ever streams. He recently learned by watching his favorite youtube gamer/influencer that Roblox has IPO. I match his money in savings account but he knows he can’t use his match until college or when he turns 18 (so I could teach him about employer retirement match). I taught him him about compounding interest this year.
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