Bday present question - fractional shares
I need recommendations for a trading platform for fractional shares.
The bday person is 17 years old.
Very bright 17 year old. Hopefully this can kickstart the youngster to invest in shares.
$100 will also go to an index fund. Need some recommendations there as well and also how to set it up so that it can be managed by the 17 year old.
Initial investment is $200.
Gotta be over 18 unless you want to be beneficial owner for now and hold in trust
Are they turning 18 this birthday?
Very bright 17 year old
We will have to take your word.
Turning 17.
Yes, up n coming Warren Buffet…
trading platform <> Warren Buffett
Either you're a goose, they're a goose, or you're both geese.
Try Raiz. I am happy with it so far.
Betashares
Dhff (or ghff) "and chill" (and continually buy regularly for ever)
Actually, scrap that
Minimum age is 18.
HISA for the next 12 months then start investing when they turn 18.
Very bright 17 year old. Hopefully this can kickstart the youngster to invest in shares.
And what is your experience with shares? Are you going to gift something you have no idea about? And hope they learn it for themselves?
This. -> HISA for the next 12 months then start investing when they turn 18. (onetwothreefour)
I know this suggestion doesn't really help for the upcoming birthday
It's probably not worth the hassle regarding setting up an account for a minor considering: bare trust, TFN complications etc, especially since they are only a year off being over 18.
Personally, I think they should stick with ETFs for the long term, since making a couple of wrong investments in direct shares may put them off shares in general.
Vanguard VAS / VGS is a simple combination to consider. This book may also be of interest. https://www.amazon.com.au/Strong-Money-Australia-Financial-I…
Open a Super account with an industry fund (Hostplus, AusSuper, etc) and invest there. Will come in handy with FHSS too.
With amounts that low you really want to avoid brokerage.
Vanguard allow free investment in some of their products starting at $200 with a Vanguard Personal account, maybe a good option?
https://www.vanguard.com.au/personal/