Old enough for a CB account should be old enough for an investment account.

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Jan 17, 2019
3:04:54pm

garyfan All-American

Old enough for a CB account should be old enough for an investment account.

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garyfan

Bio page: garyfan
Joined: Sep 19, 2013
Last login: May 6, 2024
Total posts: 37,653 (3,860 FO)

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Messages

Author

Time

Can a 13 yo have their own investment account? My son wants to buy some mutual

Iman23

1/17/19 2:54pm

No, cannot legally own securities. If you open a college savings pan for him,

PhilPete

1/17/19 2:55pm

Uniform Gift to Minors Act. I am not sure they are still available

BYU71

1/17/19 2:57pm

Still availabel. I couldn't remeber the title of the account. Thanks.

PhilPete

1/17/19 3:26pm

Old enough for a CB account should be old enough for an investment account.

garyfan

1/17/19 3:04pm

Just open a UTMA account for him at somewhere like Fidelity. It’s easy.

RdF3

1/17/19 2:59pm

UTMA or UGMA, but I believe they get full control of the account when

neboutefan

1/17/19 3:07pm

This is what Vanguard told me last week as well when I asked the same question

BYUfan92

1/17/19 3:31pm

Yes - Open a custodial account at Schwab

A Man in Full

1/17/19 3:18pm

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