I’ve offered each of them $ 250 to get started in or a . Do yopu have any good sugestions?

 

  • Joseph T 1:04 pm on August 12, 2010

    Steve B, $250 isn’t much it limits you in your options when buying stocks because of commissions and fees. However I’ve been through that and have two great options for you.

    #1 DRIPs, go to Barnes and Nobles and buy a book about DRIPs, they are plans where you can buy stock straight from the company itself, bypassing commissions and fees. I have a book at home and can’t remember the title sorry, but the book about DRIPs lists all the ways to contact those companies and how to get started.

    #2 http://www.sharebuilder.com, awesome online brokerage that will buy any amount of stock for you and cost is only $4. That doesn’t eat into the $250 too bad.

    Good luck, hope that helps.

  • snwbm 1:04 pm on August 12, 2010

    If they get $250 the fees for most mutual funds will eat right through that. Most mutual fund companies charge you fees for having less than %5000 in an account.

    If they are going to buy stocks most trading companies demand a minimum of $1000 and charge a minimum of $7 a trade

    You should open a CD at a local bank for them

  • kemperk 1:04 pm on August 12, 2010

    Happy day! You may buy stocks and anything
    else you wish for ANYONE you wish.

    Contact any stock brokerage house [check the yellow pages] and set up an account in your name.

    Buy what you wish and the broker will send the certificate to the adult child for you.

    Thanks for asking!

  • Frank Castle 1:04 pm on August 12, 2010

    Open a brokerage account at TradeKing.

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