Anyone buy stocks as gifts for young family members?

[bank5]

I recently read a financial book where the author became interested in economics because a grandparent bought him stock when he was young.

I've thought about doing the same thing for my nephews (ages 8 and 10). It could excite them they own a part of Nike, teach them about saving and make them interested in the finances.

Has anyone done this? What was the outcome?

 

[W2R]

At 8 and 10, do they have experience with a bank account yet? Deposits and withdrawals, and doing the simple math to keep a bank account balance might be more on their level and teach them more about savings at that age. I would wait until they are in junior high school and learning about the stock market in school.

 

[Zathras]

We did this for our neice and nephew.
Bought them one share each of Disney. They put the certificates on their walls (not sure if they are still there).
The certificate came with a little book for kids on what a stock is and another book with some suggestions for parents.
Not sure how it worked out though, hopefully it will be benificial in the long run.

 

[Moemg]

I recently read a financial book where the author became interested in economics because a grandparent bought him stock when he was young.

I've thought about doing the same thing for my nephews (ages 8 and 10). It could excite them they own a part of Nike, teach them about saving and make them interested in the finances.

Has anyone done this? What was the outcome?

I bought stock for my SO's grandsons when they were little . It 's a great idea but I would definitely wait until they were old enough to appreciate it and understand it . 8 & 10 seems like a good age for this.I bought through one stock .com but next time I will use share builder or my own broker .

 

[bank5]

At 8 and 10, do they have experience with a bank account yet? Deposits and withdrawals, and doing the simple math to keep a bank account balance might be more on their level and teach them more about savings at that age. I would wait until they are in junior high school and learning about the stock market in school.

It might be a bit young. The author of the book said that growing up he'd read the sports section in the paper and then always flip to the stocks to see how his stocks were doing. It made him want to learn more about how his companies were doing and that's how he became interested in finance.

I'm leaning away from it though. I'm not sure they'd be interested enough in it.

 

[charlie]

I bought some Exon stock for my grandkids (DRIP shares) when they were born and my daughter used them to fund Pre-K and kindergarten at a good private school. It gave them a great start on their education.

Cheers,

charlie