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Re: $250 investment for a 19 year old?
Posted: Mon Sep 26, 2022 1:30 pm
by dualstow
ha!
I almost floated the Robinhood idea, but as a serious option and not as a reverse psychology experiment. I mean, I’m not a fan of the platform at all. But it seems ideal for getting young people interested in investing. With $250 it’s harmless.
Re: $250 investment for a 19 year old?
Posted: Mon Sep 26, 2022 4:37 pm
by vnatale
dualstow wrote: ↑Mon Sep 26, 2022 1:30 pm
ha!
I almost floated the Robinhood idea, but as a serious option and not as a reverse psychology experiment. I mean, I’m not a fan of the platform at all. But it seems ideal for getting young people interested in investing. With $250 it’s harmless.
This is what I got from the Grandmother regarding Robin Hood:
"For some reason they make me nervous but I’ll look.
I looked at the pro’s and con’s and was uncomfortable with them."
Re: $250 investment for a 19 year old?
Posted: Mon Sep 26, 2022 4:38 pm
by vnatale
barrett wrote: ↑Mon Sep 26, 2022 12:38 pm
I don't think the Roth & Robinhood ideas are necessarily mutually exclusive. I see all this online chatter from several months ago that Robinhood was planning add both Roth and tIRA options. Not sure if it's actually been implemented yet.
Again, though, the grand kid has to have
earned income up to the amount of the Roth contribution. Maybe the grandma can pay the kid $250 for researching the Robinhood Roth options.
The grandmother owns a business in which she can easily employ her granddaughter.