Don't understand the stock market? Well, maybe your kid will have better luck . . .
Fidelity Investments just launched something called "Youth Accounts" that allows teenagers to buy and sell stocks online unsupervised.
Kids 13 and up can do it as long as a parent opens the account for them. But then they're on their own, and you DON'T get to approve trades before they go through.
They do have some other features to protect you from letting your kid gamble away your life savings. But are they enough?
You get to decide how much money they start with, and you can also close the account at any time. But other than that, you basically just monitor what they do, and see all the trades they make after the fact.
Fidelity is pitching it as an "educational tool" to help kids learn about investing.
It's free to sign up, and also comes with a debit card linked to the account. So they can go out and spend all the "GameStonk" money they make.
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