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blackglass337 | What is the easiest and cheapest way for a novice to buy a half dozen stocks? |
I'm not interested in becoming a regular investor (yet). I just want to buy my nieces and nephews a few stocks for their birthdays this one time. |
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banjoman
 |
Open an account with an online investor like Ameritrade or E-trade. The trades are cheap, but getting the stock certificates will cost a bit. |
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Mary Ann V
 |
I will tell you a very nice investment gift you can give your nieces and nephews.
Open a DRIP Plan in their names and purchase some shares of a Blue Chip company stock.
DRIP's are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.
The best part is you get to choose from the best Blue Chip International Corporations in the world. You can have Toyota, General Electric, Royal Canadian Bank or McDonalds in your portfolio. Although there is always risk in stocks, these Blue Chip giants offer far less risk than most.
They are inexpensive to start and maintain, and your dividends are reinvested for free.
They are perfect for small investors, as well as big investors. They will allow you to sleep at night and not care about whether the market is going up or down.
These are great plans, and they would continue to give to your nieces and nephews every year the keep them. |
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thewallstreethunter
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open an account with your local bank, if you are just buying one or two, the commissions wont be that bad, and they will know where they are held, sometimes it gets confusing when you have too many accounts with too many people... Good luck,, if you are looking for a place to learn some more basics about investing, maybe show the kids some good easy to read pointers, you should check out the articles and daily market update at www.thewallstreethunter.com
Good luck |
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Matthew R
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Zecco.com offers free stock trades when you put in a minimum amout of capital to start with. A couple other cheap ways are though Scottrade or E*trade also. All of them only charge a relatively small fee for the service. |
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Knox
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DRIP Plans would be a great gift to get your nephews and neices started on. |
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Sally
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There is a reason they are called Blue Chips. They do not get hammered like smaller stocks. I am not sure why anyone would think this.
Stick with the Blue Chips, they are called this for a reason. |
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John A
 |
Don't do this.
In the old days you could buy stocks in bearer form (the actual certificates) but not any more. That is where this tradition of gifting them originated, it was neat to get those things. It may even be why you feel compelled to do the same for your nieces and nephews, as someone may have done it for you.
If you put the stocks in their names (assuming they are old enough) they will cash it in. If you invest it in your name you pay any taxes owing. Its also a tedious nuisance to set up despite the good meaning respondents below.
Further, blue chip stocks are not guaranteed and can be hammered as hard (or harder) than any small or mid cap stock, so don't go investing thinking the stock is bulletproof. And as great as it sounds you do not want that "freedom of choice" referred to in the other response.
I would suggest that a far more meaningful and lasting gift would be a book geared for beginning investors. Try to find one that discusses overall financial planning. that includes discussion about insurance, debt management, cash management as well as investing as opposed to just hawking stocks.
Arming them with the ability to build a secure financial foundation for themselves and their families is a far greater gift then buying a stock.
ADDENDUM: a word about blue chips
I know the respondents talking about how safe "blue chips" are don't know any better and are only trying to help but google "The Nifty Fifty" and get back to me...don't ask why just do it. |
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