As a minor under the age of 18, you cannot be the outright owner of a regular brokerage account [1]. However, young individuals can invest with the help of a parent or responsible adult. One option is to open a custodial account under the Uniform Gifts to Minors Act (UGMA) and deduct Roth individual retirement account (Roth IRA), provided that they have earned income. Another option is to have a joint ownership brokerage account, but the adult co-owner has approval rights for investment decisions [1][3]. To start investing, young individuals should learn the basics of investing, find their investing identity, discover the right investments for them, open and fund their brokerage account, and make their first investment [2]. The best investments for teenagers include individual stocks, mutual funds, and ETFs, with growth and value stocks being the most basic classifications. Dividends are also a method for growing money and canbe lucrative in the long term
Answers & Comments
Answer:
i think it is not allowed.
Answer:
Explanation:
As a minor under the age of 18, you cannot be the outright owner of a regular brokerage account [1]. However, young individuals can invest with the help of a parent or responsible adult. One option is to open a custodial account under the Uniform Gifts to Minors Act (UGMA) and deduct Roth individual retirement account (Roth IRA), provided that they have earned income. Another option is to have a joint ownership brokerage account, but the adult co-owner has approval rights for investment decisions [1][3]. To start investing, young individuals should learn the basics of investing, find their investing identity, discover the right investments for them, open and fund their brokerage account, and make their first investment [2]. The best investments for teenagers include individual stocks, mutual funds, and ETFs, with growth and value stocks being the most basic classifications. Dividends are also a method for growing money and canbe lucrative in the long term