Finance for Teenagers

Financial guides and tools for parents and teens. Learn how to save and invest for teens.

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Fidelity

Why we like it:

Managed investment with no fees for the hands-off investor. Virtual assistant, no minimums, low cost mutual funds, and fractional share trading for the hands-on investor. These make Fidelity a great choice for new investors that are looking to dip their toes in investing.

  • A virtual assistant offers step by step help for new investors
  • Individual and custodial accounts: no minimum to start, $0 commission on stock and ETF trades
  • Managed portfolios: no minimum to start, and no advisory fees for accounts with balance under $10,000
  • Low to no cost mutual funds with no minimums to invest
  • Allows buying fractions of pricey shares for as little as $1

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Ally Invest

Why we like it:

This account has no minimum to start, making it a great starter account for parents looking to start investing for their child, and the managed portfolio is a great way to start earning on your investments if you prefer a hands-off approach.

  • Individual and custodial accounts: no minimum to start, $0 commission on stock and ETF trades
  • Mutual fund trading for a low $9.95
  • Managed portfolios: low minimum of $100 to start, and advisory fees of 0.30% of total assets per year
  • A full range of investment options, for all investor levels
  • Earn interest on uninvested cash when you open and link an Ally savings account
  • Get a signup bonus when you fund a new account with at least $10,000

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Acorns

Why we like it:

If you're not sure how to afford starting to save, use Acorns' roundups and roundup multiplier to automatically save & invest your "spare change" from credit card purchases. Great for building that initial few hundred dollars in savings quickly, without effort, and without noticing.

  • $1 per month for an investment account the rounds up your spare change automatically
  • Save & invest roundups automatically, with option to apply roundup multiplier for faster savings
  • Your balance is automatically invested in ETFs for extra earnings
  • Plans can be expensive for investment purposes, but provide a great way to jump start some savings
  • No minimum required to open an account
  • Since this is an investment account, earnings will be higher than most high-yield savings accounts

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A Guide for your Financial Parenting Journey

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set your kids up for a great financial future