After I learned what a broker is, I got excited. Then I realized something: I am still in high school.
Can I even open an account?
The answer is no, not by myself.
Most brokers require you to be at least 18 years old to open a normal account. At first that felt unfair. I can learn about stocks, but I cannot technically own them yet. Then I found out about something called a custodial account. That is where a parent or guardian opens the account with you. The money is yours, but they help manage it until you are legally an adult. When you turn 18, or 21 in some states, the account becomes fully yours.
For me, this became real on December 30th , before my 15th birthday. As a Christmas gift, my mom opened a custodial account at Charles Schwab for me with $1,000. Because she already had her own Schwab account, it was surprisingly easy. The review took about two days, and then it was ready. She explained that if parents do not already have a brokerage account, it can take longer and be harder to set up.
Once my account was approved, I had to choose my very first stock. I picked TSMC (Taiwan Semiconductor Manufacturing Company), a company I had been watching closely.
screenshot of my account
I bought 3 shares at $200 each.
It was my very first trade. Even though it was only a small amount, it felt like a huge step. For the first time, I was not just reading about investing- I was actually doing it. Honestly, it made me feel a little like a millionaire, and definitely more like an adult!
On January 8, 2025, I turned 15. For my birthday, I decided to give all the money I had saved, along with my birthday gifts, to my mom and added another $1,100 so she could deposit it for me. With that, I picked up 1 share of NVIDIA at $131 and 5 shares of TSM at $192 each.
At first my account showed a small loss of around $24 because TSM wasn’t doing so well, but I did not mind. I do not really have anything I want to buy right now, and it feels better to just keep saving and putting my money into stocks.
I also discovered that some brokers have accounts designed specifically for teens, often with extra learning tools. And if you do not want to ask your parents right away, there are virtual trading apps, also called paper trading. That is what I have been using. You get fake money, you buy real companies at real prices, and you see how your portfolio does. I have already made mistakes, but at least I did not lose any real cash.
So even though I cannot go all in with real investing yet, I can practice, build habits, and get ready. Honestly, that might be smarter than throwing real money into the market before I know what I am doing.
What I Learned
- Teens cannot open a regular brokerage account alone.
- Custodial accounts let parents or guardians help, but the money is still yours.
- Virtual trading apps are a safe way to learn and make mistakes.
- Practicing now means I will be ready when I turn 18.
Sources I Read
- Fidelity: What is a Custodial Account?
- Investopedia: Custodial Account Definition
- Charles Schwab: Custodial Accounts for Minors
Next time: People keep saying that you do not need a lot of money to start investing. Can I start with just ten dollars?
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