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Old 12-05-2020, 07:53 PM   #21
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Fidelity recently offered fractional share investing. I think I would have a discussion with him and propose that you invest together... you each put in $750... then he'll still have $150 for "emergencies". Then talk with him about what things he and his friends do and the companies behind them.... together you can research and select 15 businesses that you like the future prospects of and put $100 in each. Then monitor "your portfolio" and "meet" once a quarter to go over the investment results and make any changes. Sort of like your own personal grandfather/grandson investment club.

Indexing is great, but admittedly a bit boring... once he has some experience with individual stocks and is interested you can talk about index investing.

Just be careful though, before long all your other grandchildren may want into "the club".
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Old 12-05-2020, 10:05 PM   #22
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How neat to think of Grandpa, and value your opinion. I think getting him invested in a company that sparks his interest would go a long way towards keeping him engaged in the investing mindset.

My 21 year old son read/recommended the book "Rich Dad, Poor Dad" so I read it, and we have had alot of indepth discussions about the book, and different options for investing.

A REALLY neat, and timely Christmas gift from you would be a small amount of stocks for him to own, in your own portfolio that he could watch grow, and later be given for college expenses/house/wedding.
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Old 12-06-2020, 05:24 AM   #23
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I might have some discussions after he reads an age appropriate book on investing and find out what kind of investing he has been discussing with his friends. Then he makes a "fantasy investment" (no actual investment) of $1k on a selection of his own to see how well he has learned. Try it for a year. Gives him a chance to watch the market and read/learn/talk more during that time. If his investment can match or exceed a "fantasy investment" of $1k in a S&P 500 index fund of your choice then you pay him the money he would have made on his investment. A nice learning experience for him without consequences.



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Old 12-06-2020, 06:48 AM   #24
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My 11 year old grandson (going on 50) has been participating in a virtual beat the market program at school. This is some sort of national system and DGS is rated in the upper percentiles. He told me he would really like some "real" stocks to trade. For Christmas/Hanukah I opened a custodial Scwhab brokerage account with $200. I put $25 each into stock "slices" of four stocks he likes and $100 into a total stock index. When I give it to him I will agree that he can hold or trade as he sees fit, except he must keep the index fund untouched as a control. If he stays interested, any future gifts will go half to the index and half to a sweep account for him to choose stock slices.
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Old 12-06-2020, 06:57 AM   #25
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This thread prompted me to look at DGS' account. In the few weeks since I set it up he is up $12.50 in his stocks and $11.31 in SWTSX. His opening stock portfolio is AAPL, MSFT, VZ, and DIS. Unfortunately, only I can access the account so he will probably be calling me like an old style broker. "Sell DIS now!!!!"
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Old 12-06-2020, 09:10 AM   #26
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Thanks to all of you for your suggestions and input - some great ideas here.

My initial plan is to Facetime with him next week to get a feel for just how serious he is about this subject - understanding he's 13 and occasionally has a short attention span. Another question I have is what discussions he's had with his parents about stock investing and are they on board.

Based on the responses I get, I'll then either suggest the "fantasy investment" route or, if I think he's serious enough, using some of his own money in a custodial account. While I'd love to reward his efforts with some matching cash, DW and I have worked hard over the years to be completely fair to each of our five grandchildren. Not going to chance going off script now.
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Old 12-06-2020, 09:26 AM   #27
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To be clear, the matching cash that I was suggesting the "investment club" would still be 50% him and 50% you in a joint brokerage account with both your names on it.

You could always made a decision whether or not to give him your 50% later.
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Old 12-06-2020, 09:32 AM   #28
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Quote:
Originally Posted by pb4uski View Post
To be clear, the matching cash that I was suggesting the "investment club" would still be 50% him and 50% you in a joint brokerage account with both your names on it.

You could always made a decision whether or not to give him your 50% later.
My concern is if I decided to not give him my 50% he would think it unfair and if I did give it to him his sister and three cousins would think it unfair. That's a no win situation I'm trying to avoid.
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