December 5th

There are many I can recommend. However, I think it's very important to teach your teen the proper mindset. Right now the stock market is trash and it's going to make a rough go for your teen to see that money dipping often. As an adult, this is a very rough time to "stay the course" and keep investing steadily. Back to your question: Personally, we use Vanguard for our Roth IRAs and Fidelity for a taxable brokerage. I highly recommend that they have a written purpose statement for money which includes investing, and then a written investment strategy, and stick to these. This is what helps avoid "day trading" or falling for "new trends". They should prayerfully consider what would go into their initial purpose statement and investment strategy, and then I'd recommend setting this time of year (Thanksgiving through the holidays) to re-evaluate these written documents after prayer and wise counsel and make adjustments as appropriate. Doing so will help them to remember why they're sticking to choices, even when they are "losing money" (which they are not, only if they sell and lock in the loss) and help them focus on their long-term goals.

December 5th

Personally what I would do starting out a teen right now is get them going on an educational learning journey and park the money in a $500 "Series I" Bond for 6 months during that time at the US Treasury Direct website. This then locks in the money, and guarantees it won't lose purchasing value. Then I'd have them taking Financial Peace University for basic Baby Steps and basic budgeting (but don't drink the Ramsey all-or-nothing Kool-Aid), listening to the MoneyWise podcasts, and taking a Compass "Building Your Finances God's Way" study while working on the two written documents I mentioned in my original reply.

December 5th

Then, with a firm Biblical foundation for finances, I'd start them learning more about investing using resources found at this website (you can literally spend months and months going down the rabbit trails these links will provide, but at the same time they have high-level basic principals like index investing):

December 5th

Slight update might be in order - I bonds are for a minimum of 12 months - and if redeemed within 5 years - you forfeit 3 months worth of interest - but that is no biggie if rates trend lower. As for the basic education on investing - get a copy of Austin Pryor's book "The Sound Mind Investing Handbook" - almost like an investing for dummies - with a Christian spin - great for adults too -:)

December 6th

Good catch on the I Bonds lock-in! I mixed up the rate term length.

December 10th

Great information. Thanks for all your advice.
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