Message Font: Serif | Sans-Serif
No. of Recommendations: 2
Hey MiniNick!

It's awesome to see another teen around on the board. This board has definitely helped me become a better investor, and I'm sure it will for you too.

One of my friends set up an account in Scottrade. I believe the minimum amount you can put in is $500, commission fees are $7, and they do not reinvest dividends. Zecco could be a potential option for you as well. There is no minimum amount to set up an account, the commission fees are $4.95, and I believe they do reinvest dividends. You'll probably want to do little more research, but I hope that helps!



If you keep commission fees down to a reasonable level, $500 should be a good enough starting point to invest into 3 or so stocks. It is true, dividends do definitely add up over the long-term, but when first starting I would focus on investing to educate yourself. Find businesses you are interested in from a consumer angle, and try to research those. It will make learning more enjoyable, especially if the business is easily understandable. These could be businesses like Activision (think Call of Duty), Starbucks, Hasbro (think Transformers), and Nike. I don't limit myself to dividend paying businesses (I think some non-dividend paying businesses are fantastic), but all of these mentioned do pay dividends.

$500 is a fine starting place, but I hope you can add more over time. You just never know when great investment opportunities can pop up, and if you don't have any more cash on hand then it too bad, so sad. $500 may not even sound like much compared to adults around us, but think about it this way. If you invest that $500 earning a reasonable return of 10% (if you invest wisely) and don't add another cent for 50 years, in the end you will have almost $60,000. Yup, time is definitely on our side if we start young!

I hope you stick around on the board. It's been dead for quite a long time, and if things become like the past again, we can turn this board into a great learning environment.

Thanks for posting, and if you have any more questions feel free to ask!


Long ATVI, SBUX, and HAS
Print the post  


Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.