Investing in Shares for Kids

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Forums › Finance and wealth management › Investing in Shares for Kids

networkn

Networkn
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#303379 6-Feb-2023 14:00

Hi.

I have a shareies account with a relatively small amount invested. I've pretty much ignored it.

My 13-year-old wants to take some of his savings and try investing in shares. Is sharsies a decent platform? it's convenient because I already have an account with them, but I have been wondering given some of the feedback Ive seen about Sharsies, if I should change platforms?

If I move platforms, I assume I need to sell my shares, extract the money and move to the new platform and then re-invest?

Advice would be appreciated.

Handle9

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#3032534 6-Feb-2023 17:54

Some platforms let you transfer the portfolio in or out. Sharesies supports this for NZX traded share but not international shares or ETFs.

It also depends how much money you are talking about. If it's a few hundred dollars and the focus is on learning Sharesies is probably as good as anything as it's pretty easy to use. You pay for the convenience but the barrier to entry is low.

ANglEAUT

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#3032561 6-Feb-2023 19:12

For low volume purchases, Sharesies is still good enough. If your transaction volume or $ amount increases, then it might not be so good.

More pricing details & examples are available from https://www.sharesies.nz/pricing & further down they list a monthly $1 kids account option.

IMO, to start learning about shares, the interface is super easy with limited options. They won't overwhelm you.

Please keep this GZ community vibrant by contributing in a constructive & respectful manner.

PANiCnz

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#3032819 7-Feb-2023 12:14

Money King is a great local resource, and they did a write up on Sharsies after their recent fee increases. It's worth a read.