Can a student invest in mutual funds?

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Can a student invest in mutual funds?

Screaming Eagle

I have my son's Coverdell Education Savings Account at Scottrade and invest it in Mutual Funds and stocks.

rn_pandey1

If you are minor then you have to invest through your guardian and if you are major there is no restriction for students.

cvrk3

Student is a very vague term. As far as you are above the age of 21, you can sign the application form itself otherwise, your guardian should sign the application form.

JRockLC25

You sure can and I think its great you are starting so young!

If you have say $1000 and want to open up a Roth IRA at Vanguard for your retirement, you could purchase Vanguard Total Stock Market Index [VTSMX], which is trading at $32.46 right now and is a solid first time purchase.

Vanguard also offers plans as low as $50 a month that would allow you to add money into your fund, withdrawn from your checking account.

I would stick with Vanguard or another mutual fund that doesn't charge you a commission to buy the fund or sell the fund and has a low expense ratio. In short, some companies with charge you 5% to buy their product, charge you 5% to sell their product and 1% to manage their product. You want to find a company with low fees like Vanguard or T. Rowe Price.

Ask another question with some more detail and the board will be able to help out even more!

muncie birder

Actually, anyone can invest in mutual funds. Student or otherwise if the have the necessary funds. If the student is under age, he will have to have his parent purchase it for him as a uniform gift to minors. But that is a mere technicality.

Ralfcoder

I think you can. Ask the fund salesman.

i_vhora

You can but the thing is you must be over 18.

Arun G

yes you can independently if you are 18 years of age

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