Best way to gift stocks/investments to tweens?

[magma]

Thinking of holiday gift ideas for our 10 and 12 yr old kids. They are into the stock market and like tracking it, thought it would be fun to give them $$ to invest as a gift.

What’s the best way, exactly, to do this?

[gt7301b]

Fidelity has a youth account that looks pretty easy to setup. I haven't actually set one up, but Fidelity has a good track record.

tinyurl.com/4xfy35s8

[quesyrah]

Nov 2, 2022 9:18:35 GMT -5 gt7301b said:

Fidelity has a youth account that looks pretty easy to setup. I haven't actually set one up, but Fidelity has a good track record.

tinyurl.com/4xfy35s8

This is what we have for our kids.

We did this because DH and I already had account with fidelity so it’s easy to manage all in one spot.

[CallingAllAngels]

Nov 2, 2022 9:18:35 GMT -5 gt7301b said:

Fidelity has a youth account that looks pretty easy to setup. I haven't actually set one up, but Fidelity has a good track record.

tinyurl.com/4xfy35s8

You have to be 13 for this one. My son has one, but my daughter doesn’t since she isn’t 13 yet.

[MixedBerryJam]

I’m not saying don’t do this but keep in mind that when you’re applying for needs-based financial aid, assets owned by the student are more heavily weighted than parents’ assets, or at least that was the case when my kids were applying ~10 years ago.

*Weighted is the wrong word but I can’t think of the right one. IIRC every penny in the kids name is counted while some parts of parents assets are not