Question : How can a teen start a mutual fund?
I am 14 years old and I am looking to get into the stock market (I have already started on a website that runs a simulator, which uses the real stock prices, and have gone from 1,000,000 virtual $ to 1,300,000) and in order to make money, get experience, and possibly create a career for myself, I want to start a mutual fund. How realistic is this for a 14 year old to set about doing? How would I start? Please answer these questions and give me some advice if possible. Thank you.
- asked by frownybouncer
All Answers:
Answer #1
Good for you kid, I guess I would take your info (like what you said here ) and talk to a broker forstarters. Let them know you aint kidding around.Dress nice and show them your 'virtual' portfolio.With a 'you are not gonna take no for an answer'attitude.
- answered by bowlster
Answer #2
not gonna happen.not only will you not getSEC/NASD approval, but nobody is going to investwith a kid who's only experience is a pretendportfolio online.this is a good long-term goal(when you're 40-50), but isn't going to happenanytime soon.sorry.
- answered by what?
Answer #3
I know there are resources out there for teens,but you will have to have parent/guardianpermission to enter into contracts for stocks,bonds and mutual funds. Reading and researching isthe best way to learn. Here is a book I recommend,maybe you could find it at a library:The MotleyFool Investment Guide for Teens: 8 Steps to HavingMore Money Than Your Parents Ever Dreamed Of(Motley Fool) Also see the links below forinvesting information.Best of Luck, don't letanyone stand in the way of your dreams or goals.
- answered by ColdFrosty
Answer #4
I don't believe a minor is legally eligible to doso. Contact the SEC
- answered by robe
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measure and fulfill your financial needs
