I lost 100% of my sons Investment shorting GE, Apology video soon.
- Thread starter prc117f
- Start date
This is a good segue into a question I have: my son (10) has saved up a couple thousand from his allowance and other things and wants to invest. Is the best way for me to keep the investments in my name? I would rather have him making the investments, entering the orders himself but don't want him to be accessing my account for obvious reasons.
Any suggestions?
Any suggestions?
Do you have an account at IB? If so, you could create a so-called "linked account". You could use this new account to have him dabble and it is still (more or less) isolated from your own trading account.
Yes I do. Good idea, will try that. Thanks!
"This is a good segue into a question I have: my son (10) has saved up a couple thousand from his allowance and other things and wants to invest. Is the best way for me to keep the investments in my name? I would rather have him making the investments, entering the orders himself but don't want him to be accessing my account for obvious reasons.
Any suggestions?"
As a 10-year-old he can't have a conventional brokerage account. You can do it in your name and you can pay the taxes. Another choice is an UGMA - uniform gift to minors and it becomes his when he is no longer a minor.
A lot will depend on what investments you are looking at. Many firms restrict some products so they can't be bought in UGMA accounts. Another consideration is education expenses so you may want to look at a 529. Often the answer is some of each as he continues to save.
The other thing to consider is state tax laws and how they apply to 529(education savings). There are a ton of variables to consider and given his age, you can be effectively betting on future tax laws - which of course is very difficult.
Any suggestions?"
As a 10-year-old he can't have a conventional brokerage account. You can do it in your name and you can pay the taxes. Another choice is an UGMA - uniform gift to minors and it becomes his when he is no longer a minor.
A lot will depend on what investments you are looking at. Many firms restrict some products so they can't be bought in UGMA accounts. Another consideration is education expenses so you may want to look at a 529. Often the answer is some of each as he continues to save.
The other thing to consider is state tax laws and how they apply to 529(education savings). There are a ton of variables to consider and given his age, you can be effectively betting on future tax laws - which of course is very difficult.
Start molling lawns and pay it back...I mean around 200 dollars your a grown man if you cant come up with that your not a man at all
Or going to the same hockey game as the client whom you just blew up.
Every time that guy goes to the stadium he will look in the stands wondering where that fucker is.