Fun investing site that will teach tween about investing without paying?
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Anonymous
| son is interested in investing/stocks. He's 13 and well no, I am not going to let him buy stocks on his own but is there a fun app that he can "pretend" to buy stocks/invest to allow him to learn and track companies? |
Anonymous
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Well this does involve actually buying but you can use very small amounts (think $1.00) and it’s Greenlight. I found out about it because apparently it’s big at my kid’s middle school. It ties into an actual debit card that you have to set up for your kid. You can deposit money (again, we do veeery small amounts) via the app that then goes to their card. Via the app they can also invest these small amounts. My kid LOVES to track her stocks (all three of them hah) as they go up and down by a few cents every day. There’s also a pretty decent financial literacy course that the app walks them through.
Many kids (mine included) also use the app to connect to chores/allowance. You can set up tasks that they earn $$ for and they can request money for completing tasks. |
Anonymous
| investopedia simulator |
Anonymous
|
My 13 year old has his own brokerage account, opened it when he was 10. He started with $450.00 ( his savings) and is currently at $1850.00 thanks to NVIDIA.
Point being, put a small amount like $200.00 and teach him actual investing. I think one learns quickly with real money. Good luck! |
Anonymous
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Bad idea. Buying random stocks after “researching” in the hope that they’ll go up is gambling with extra steps. They’ll learn a lot more with a real money account. Fidelity lets you open a teen brokerage account + debit card at age 13: https://www.fidelity.com/go/youth-account/overview
Teach them the right way to invest by simply plowing their extra birthday/holiday cash into VTI/VOO/etc. as often as possible. Then go back and review their performance 1, 3, 5+ years down the road, as well as stressing how their savings rate had the biggest impact when starting out but then growth via gains & dividends starts to snowball at a certain point. The real lesson is having patience and consistency. Profitable investing is slow and boring. “The stock market is a device for transferring money from the impatient to the patient.” -Warren Buffett |
Anonymous
| Investopedia is the way. |