Hi Neale- What is the best way to start my teenage daughters on learning about investing?
Have your daughters look up the companies on the stock pages of the newspaper and show them how to read the symbols on the page. Explain that the daily stock quotation is only a record of how the stock did that day. Just because a stock does well on one day doesn’t mean it’s going to be the same result the next day.
Another good way — popular with idealistic teens — is to do research and create an environmentally or socially conscious portfolio — companies known to share your kids' own world views. Learn how your money can have a real world impact.
When ready, have them place an order - through you. You’ll have to put the account jointly in your name and theirs until they are twenty-one. If you don’t have a broker you can use a discount brokerage or an online service. Be sure to find out the associated fees. Stocks can be purchased in as little as one share increments. Keep me posted and happy investing!