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I loved that book when i was a little girl!
Thanks. She likes to read. She took Anne Frank and some other book with her to camp.
I bought the oldest a good book but she's not here right now or I'd ask her the name of it for you.
I'll find out and post it later but it gives kids advice on investments and saving for the future.
The oldest is 11 and the youngest just turned 5. She is at basketball camp this week, softball camp next week and then church camp. lol I wished I was young again.
how old bubba?
my kids are 11 & 13 and I give them stock money for their grades.
They have a sharebuilder account and love picking stocks! My oldest has had MCD from I think $26 so she's just about doubled!
This board is a good one. I am helping my oldest set up a paper trade portfolio right now and we are gonna do a real one very soon, of course she won't be able to trade anything herself but it helps her understand how you can build your money up with stocks, plus it is fun for her and I to do this together. We do all the sports as you know but this is a good inside activity. My grandfather showed me when I was around her age and that is the reason I was buying stocks back when I was in college.
Kids, stay in school.... take drama, history, math....
I do not recommend stocks...
"Investing" in sound companies can not be compared to gambling (which in many states is illegal).
Since you have come back to ihub, you have done nothing but bash every board you have/had stocks in.
Do NOT compare your trading mistakes to that of young people saving for their future.
I don't think I have been burned at all.
I still think kids/teens should stay away from the stock market and gambling.
Its addictive.
Do you have any kids Talon?
I must disagree with you on this topic. I feel I would have faired off better in my adult life if I were taught finance in my earlier years than say algebra.
How often do most adults use algebra in their adult years?
Now ask yourself this how important is it for us to know about investing in our adult years?
Many people here would most likely not be bagholders if they had an Investing 101 class during their youth! IMO
Talon, it's quite apparent that you've been burned.
I would NEVER suggest that a child invest in POS penny stocks. However, there's a lot of long term good stocks out there.
Also, whenever anyone posts a POS pump, I remove it from the board.
Good, mine will stay far away from the stock market and casino's.
teens don't want to play in any sand boxes!
and mine play piano, soccer, sing in chorus and still invest!
Let kids play in the sandbox, maybe they want nothing to do with stocks. Maybe they wanna be a musician. or a painter.
there is an MMA game coming out soon also!
They get girlie stuff like Hillary Duff, Harry potter...kids games!
no bloody violent action games!
Tina, of course school comes first, they must learn about some balance and self-discipline. Do you let them play any games or do you screen them? And for boys it might be different since they tend to like the more violent games...
oh cosmo!
That depends on the child and parent! My girl's have Game Cube but are limited in the amount of time they can play with it!
School comes first!
Tina, what age do you think kids are old enough to purchase an Xbox 360 (or other gaming system) for them?
you could probably set up a joint account but need her personal information such as social security number.
Or you could buy her a start up kit (comes with a monetary gift certificate) and she could set it up on line herself. I bought these for my neices and nephews.
I meant more along the lines of how do you buy for another person period including kids. Like how can I buy for my sister who isn't a minor. But now that you mention it - I guess buying for your own children is easier than another adult.
Key, you posted the same thing months ago! At least you're consistent :)
Posted by: keynesian
In reply to: None Date:11/14/2006 8:17:47 PM
Post #135 of 277
I think children are too young to be introduced to stocks, let kids be kids.
Not sure I understand the question.
Do you mean how a minor can buy under an adult's name?
If so, an adult can set up a custodial account on line for a minor.
Yes, they are. It's called a "custodial" account.
and it's never too early to teach children to save and be responsible.
Stocks are not for kids, they are not legally able to buy or sell em anyways.
Let kids play in the sandbox.
Basics - How to buy in another person's name? I assume you must phone or email a broker?
good job!
we like borders too
wasn't sure if you had one there or not
Been to both ! Borders is our fav. We own a couple of kids books about money.
there's a whole bunch of cute books about saving and investing for kids your daughter's age. Take her on a trip to Barnes and Nobel or the public library!
Yeah, she doesn't fully get it yet, but she does understand that a dividend check is actual money. You need to keep things simple for kids.
For example, one day we went to our safety deposit box and going to the back we passed by the vault with the door open but cage door closed. I pointed in and said that's where they store your money when you bring it here. They keep it safe.
I tried to explain one day that the bank pays you to store your money because the bank wants it so they can lend it to someone else who pays them interest. She got this confused look so I stopped right there ! LOL.
I read a great story about the Bank of Dad one day, but don't remember where. This Dad "payed" very high interest to get his kids to understand savings.
great deal ew!
just wait until she's a little older and you can teach her to pick her own stocks!
my kids love it!
other stocks I like for kids:
ZUMZ
JSDA
JPM
A couple of years ago, I bought 100 shares of Chase Bank at about 20 bucks a share for my daughter. She is 10 now, and has a bank account at Chase with some of her allowance and gift money, like $100 or so. Whenever we go to the back, I tell her she owns part of the bank.
Once a quarter, she receives a dividend check (UGMA) of about $35 and we go to the bank and put it into her UGMA account.
I explain that Chase makes money as a business, and since she owns a small piece of the bank they pay her a little bit.
do you have kids?
Thanks but I wouldn't recommend an otcbb stock for any child.
This board is for less riskier stocks with long term growth.
PVNC WOULD BE A NICE CHOICE HERE.
CASH
News Flash: Fool Pays Teen $1,000!
http://www.fool.com/investing/value/2007/03/09/news-flash-fool-pays-teen-1000.aspx
Selena Maranjian
March 9, 2007
In our 2002 book The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of, we announced a contest to award a five-year, $1,000 annual grant for the "most eloquent and effective advice on personal finance, investing, or business offered by a teen." Now that the fifth year has ended, it's time to announce the contest results for 2006. Congratulations to our winner, Kenny Lee!
The winning entry
We were impressed by many of the entries, but the judges deemed Kenny's the best. Kenny hails from Monrovia, Calif. Below you can read much of his winning entry, which condenses many important financial lessons into a small package. I've added a few notes in brackets. Share it with any teens you know. Many of us ex-teens could learn a few things from Kenny, too.
1. Save your money! Most teenagers tend to work so they can earn money to spend. Little do they know, spending money is actually hurting them. In the U.S., [the personal savings rate] is [near] an all-time low.
2. Open a high-yield savings account. Don't let your money sit in a piggy bank or let it collect dust in your drawer. ING Direct offers 4.50% APY [annual percentage yield] on your money, with a minimum balance of $1. (HSBC and Citibank require account owners to be at least 18.) $1,000 can be $1,000 if you put it in your drawer, $1,009 if you put it in a checking/savings account in your bank, or $1,045-plus if you put it in a high-yield savings account.
3. Do not get into debt. Getting a credit card is becoming easier and easier in the United States. The key to using credit is to use it effectively. Always pay your balance in full.
4. Open rewards credit cards. Many people do not know the benefits of opening a rewards credit card. In the end, it will save you some money and get you a few perks.
5. Start investing young. People tend to think that investing is for adults, but it's not true. It is easy to set up an investment account under a custodial name. Keep your transaction costs low, [and] open an account with low commissions, [such as with] Scottrade, E*Trade, or TD Ameritrade. If you make more than 10 trades per year, it really adds up. [That's true: A difference of just $15 in commission costs can amount to $300 per year, if you make 20 trades. Learn how to find a good and inexpensive broker by checking out our Broker Center.]
6. Never fall for the "$0 down" car-buying scheme. Many people immediately jump and buy a car when offered $0 down. That is the easiest way for teens to get into an upside-down loan, when you owe more than the object is worth. [Dayana Yochim can tell you how to avoid bad car loans.]
7. Owning is better than renting. Whenever you have enough money to have a down payment and a stable monthly income, you should consider buying a house. As demonstrated in the board game Monopoly, it is more beneficial to own than to rent.
8. Diversification is key. Whenever you are investing, always diversify. Never put all your money into one stock or sector. Consider investing in Berkshire Hathaway (NYSE: BRK-A), index funds such as Diamonds (AMEX: DIA), S&P 500 Depositary Receipts (AMEX: SPY), the Nasdaq 100 (Nasdaq: QQQQ), or [managed] mutual funds.
9. Never try to catch a falling knife. When investing, do not try to buy stocks that are falling. Instead, wait for them to recover, then buy. Famous examples [of falling knives] include the dot-com bust of 2000. Many investors decided to follow the crowd and buy stocks when they were cheap, but in the end, most investors lost money. Take a look at JDS Uniphase [ (Nasdaq: JDSU)], CMGI (Nasdaq: CMGI), or Microsoft [ (Nasdaq: MSFT)]; none of those stocks are back to their 2000 highs. In contrast, Berkshire Hathaway shares were at a low when these dot-com stocks were at an all time high, so don't try to catch a stock when it's going down -- it just might go lower.
More resources for teens
Help teens get a financial head start in life by pointing them to some other informative resources. Here are a few, starting with a book and a nook:
Our book The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of. (Check it out on Amazon or at your local bookstore -- it's gotten good reviews!)
Our online nook for teens, Teens and Their Money. It's chock-full of information and advice on saving, earning, spending, and investing money, from both Fool staffers and fellow teenagers.
Our Teens and Their Money discussion board.
This article on making your teen a millionaire, which offers some eye-opening excerpts from our book.
The best gift you could give to teens you know is a nudge toward financial independence. If they don't thank you now, they'll likely do so some years down the road.
No they didnt have a liquor license when I planned on trying them out. I know a few people who didnt care for it.
Hi TTF
have you tried it?
I haven't checked the stock in a while.
Tina. We just got a Chipotle Mexican Grill in Toledo and the place is dead.
Mutual Funds Want Your Kids
By Rob Wherry
Companies Featured in This Article: Charles Schwab, Standard & Poor's Depositary Receipts, Chipotle Mexican Grill, McDonald's, Google, Mattel, Coca-Cola, Hershey
The mutual-fund industry is launching programs and specialized products designed to entice people in their 20s -- and even younger -- to invest.
The pickings, it would seem, are ripe. Many of today's college graduates are swimming in student loans and credit-card debt. And they typically aren't schooled in how to pick a mutual fund, let alone weed through the choices in their 401(k) plans.
"Most young people just don't get it," says Andi Kang, a Huntington Beach, Calif., financial planner who occasionally waives her fees for 20-somethings just starting out on the path toward retirement. While she is hoping ...
Thanks Rocky! I updated it.
Hey, Tina and Irish! It's been awhile since I stopped by - love all the additions to the Ibox.
And, just wanted to let you know, the link for Tips for Kids isn't working. Here's one that should work:
http://www.tipsforkids.com/
Hope y'all are having a great 2007!!
even the kid's stocks are up!!!
weeeeeeeeeeeeeeeeeeeeeeeeeeee
just turned 10, 4th grade.. He would rather be doing something with me than playing video games and stuff like that although he really likes video games.
lawd how old is he? lol
my youngest is very into saving money. she has this dream of living in a mansion and having "hired help."
lol me doing things with him is what he likes the most so I guess I'll work something out there and make more time..
Ever wonder what to get a kid that has everything? How about a unique gift that teaches them about money? Ever consider stocks for kids?
Buying stocks for kids can be very educational. Introducing the concept of money at a young age can be very beneficial and teaching kids by involvement and participation is a very effective method of establishing an understanding of how money and business works.
ShareBuilder, ShareBuilder401k , Netstock , Kidstock
The ShareBuilder Young Investor Pak encourages an early start to long-term investing with a little iTunes incentive to make it fun. It comes with the ShareBuilder Young Investor Starter Kit, packaged in a great Tek Messenger bag – savvy for any young professional on the go and the perfect size for a laptop.
With financial news and advice from Young Money & Money Magazine along with education tools to help track performance online with ShareBuilder – the Young Investor Pak is a great gift for an upcoming graduate or young adult just entering the workforce.
Includes:
$25 account bonus*
$10 iTunes gift certificate
ShareBuilder iTunes Bonus Program – earn up to $20 more in iTunes
ShareBuilder Quick Start CD
Free copy of #1 National Bestseller The Automatic Millionaire by David Bach
1-Year subscription to Young Money & Money Magazine
PeoplePC Internet service offer
www.sharebuilder.com
Sharebuilder Gift Certificates are available for $25/50/100/250
First Stocks for Kids
There are lots of other great stocks in which young ones might invest. Take a trip to the supermarket, for example, and you'll run across many of their favorite foods, many made by solid companies. Lucky Charms fans might invest in General Mills (NYSE: GIS) -- which also owns the Betty Crocker, Pillsbury, Green Giant, Häagen-Dazs, and Old El Paso brands, among many others.
When it comes to fashion trends, your young ones are likely much savvier than you are, and have some major edges in evaluating companies as possible investments. Help them understand the many advantages they have as young investors -- such as the power of time and insights into the youth market
Disney (NYSE: DIS)
McDonald's (NYSE: MCD)
Hershey's (NYSE: HSY)
PepsiCo (NYSE: PEP)
General Mills (NYSE: GIS)
Limited Too (NYSE: TWB)
Nike (NYSE: NKE)
Abercrombie & Fitch (NYSE: ANF)
The Gap (NYSE: GPS)
Kids for Entertainment (KDE)
ICONIXBRAND (ICON)
Dominos (DPZ)
One of the best ways to purchase stock in small amounts is through ShareBuilder www.sharebuilder.com. The commission is as low as $4 per trade, and there's no investment or account minimum, or inactivity fee.
In addition, ShareBuilder lets you buy fractional shares. If you invested, say, $200 for each child in a stock trading at $16 a share, each of them would own 12 1/4 shares (less the $4 commission).
Another great way to purchase stock in a company for as little as $25 is to be enrolled in a company's Dividend Reinvestment Plan, commonly called a DRIP. DRIPs are plans offered by companies for the reinvestment of cash dividends by purchasing additional shares or fractional shares, on the dividend payment date. Many DRIPs also allow the investment of additional cash from the shareholder, known as an Optional Cash Payment or Optional Cash Purchase (OCP). The DRIP is usually administered by the company without charges or with just nominal fees to the participants, and many allow additional purchases of as little as $10 to $25. For most DRIPs, you must already be a shareholder of the company to enroll. This means that you must own a minimum of one share, but some require that you own more shares.
One of the easiest ways to obtain the first share of a company's stock, so that you may participate in its DRIP, is by going directly to the company. Companies that offer their stock for sale to the investing public are sometimes referred to as No-Load Stocks. These stocks, in many cases, can be purchased without using a broker or paying brokerage commissions.
Here are some companies that make it fun for kids to have shares:
* William Wrigley Jr. Co. sends stockholders a 100-stick box of gum each December.
* Kellogg sends a packet of coupons for such goodies at Pop-Tarts and Froot Loops.
* Disney offers the Magic Kingdom Club with discounts on resorts and theme parks.
* 3M, for a small charge, offers holiday gifts boxes of tape, Post-Its and other products.
Oneshare.com http://www.oneshare.com/Category.aspx?page=kids
First Share http://www.firstshare.com/
Wally's Stock Tracker http://www.prongo.com/stock/index.pl (very fun tool for kids to learn about stocks)
Moneypaper's Investing for kids http://www.directinvesting.com/stockinvestingforkids.cfm
Kids and money http://www.msmoney.com/mm/women/kidsmoney/index.htm
Teen Analyst: http://www.teenanalyst.com
360 Degrees of Financial Literacy:http://www.360financialliteracy.org/Life+Stages/Childhood/Articles/Investing+ABC+Teaching+your+kids+....
EZ2 investment tips: http://www.investorshub.com/boards/read_msg.asp?message_id=15352357
Thinkquest: http://library.thinkquest.org/3096/
Investment Guide for Teens:
http://www.younginvestor.com/
http://www.prongo.com/stock/index.pl
GRADES 5 - 8
Tips for Kids is a free financial education program that places students in real-life situations where they can apply thinking and problem-solving skills. It's a fun and functional way to lead your students in learning how money impacts their world.
Program modules and instruction for students and teachers
Four modules covering key financial topics
Full semester program
GRADES 9 - 12
Tips for Life offers comprehensive financial literacy and career development to prepare high school students for life. This free online program helps students learn how to become financially sound and an asset to employers.
Program modules and instruction for students and teachers
Four modules covering economics, personal finance, technology
and business skills
Full semester program
http://www.tipsforkids.com/
NOTE:
This board is for sharing information related to making investing a fun and learning experience for children. All suggestions, tips, articles, books, and experiences related to this subject are encouraged and welcomed.
Any off topic posts will be deleted. Feel free to post off topic posts here: http://www.investorshub.com/boards/board.asp?board_id=7258
Thank you =)
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