Im only 16 years old but I would love more then anything to at least get my feet wet in the entrepreneur & stock market world. Am I really too young to start??
I deleted the three posts of yours that were all spam. Please do not continue. In regards to your question, you are never too young to start. If you don't have enough money to actually invest, you should start by researching, learning, and paper trading. You can learn a lot and develop a system that works for you. Then when you have enough funds to finally invest, you will be very far ahead of where most people are when they begin. The younger you start, the better, as long as you have a system that works for you and can learn to control your emotions.
Yes, you can trade stocks in your name with a "custodial" account but you'll have to use the custodial login to actually process the trades. (not hard to do with an online account) from: http://www.wisestockbuyer.com/2012/06/can-anyone-buy-stocks/ What is this minimum age? It depends on the state. If you live in California, the District of Columbia, Kentucky, Louisiana, Maine, Michigan, Nevada, New Jersey, South Dakota, Oklahoma, or Virginia, you can’t trade stocks until you reach the age of 18. For every other state, you have to be at least 21 years of age – and brokerages do verify the identity and age of each person attempting to open an account. You can, however, get what is called a custodial account. This is an account that has the assets in the minor’s name, but the minor’s parents or legal guardians actually administer the account. The only people allowed to place orders for that account are those who are at least 18 years of age (or 21, depending on the state). Not sure I agree with this as it would be an easy task for a young teenager to study the market for awhile learning about investing strategies and how to look at a company's financials and be able to trade smarter then 75% of the "adults" that trade in stocks. I agree with T0rm3nted though, start learning now. Use google finance or yahoo finance to setup a fake portfolio and do some paper trading. Oh, and on the entrepreneur side, you are never to young to start a business. Many younger than you are already millionaires or on their way. You just need to find a need and fill it.
