Starting a Youth Savings Account for My Son
Here’s a summary of the main problem and solutions discussed in the post:
- Main Problem: The user wants to start teaching their 9-year-old son about savings and earnings and is inquiring about opening a youth account.
- Solution: The Fidelity Youth account is available for teens aged 13-17, so the user can prepare to open one when their son reaches that age.
- Additional Information: The user can explore other account types for saving and investing for their child before he turns 13.
- Resources Provided: Links to the Fidelity Youth account and resources for saving and investing for a child were shared for further guidance.
Overall, the user is encouraged to learn more about the options available for their son’s financial education.
Here’s the full thread
My son is 9 yrs old but I want to start on him about savings, earnings, etc! Can I start him a youth account now
Good morning, @mrDebro76✊🏿 . It is great that you’re already thinking about your son’s financial journey.
The Fidelity Youth account is designed for teens ages 13-17. So while your son is just a few years away from being able to participate. You can learn more about the account now so that your ready to go when he reaches age 13.
Fidelity Youth Account: https://www.fidelity.com/go/youth-account/overview
I will also mention that there are other account types available to start saving for your son now. Check out the link below to learn about saving and investing for a child.
Saving & investing for a child: https://www.fidelity.com/building-savings/child-saving-and-investing
If you have any question along the way, we are always happy to help! Reach out anytime. 🟢