Buying Stocks for graduation gift??

[toystory1130]

Would this be a good idea? He is interested in saving early but does not have employment yet (he's 18) going to college in the fall. IRA's need income so that's out, is there a place to buy just single stocks that not have alot of fees? CD's don't get alot in interest, is there anything out there that would be a good fit for him? He does have checking and does have some $$ to add to it. TIA

 

[angwill]

bump

 

[Kingdome8]

There are sites that sell singles shares of stock
Or u could open a brokerage acct in his name if Over 18 or a custOdiall brokerage if under 18. The trades online are cheap.
Or could even do ibonds. I think they are 1.65 %

 

[mom2d&b]

You might want to try oneshare.com

 

[scottmel]

My dad has bought stock for my DD for all kinds of occasions and I think it is an awesome idea. She is 14 now and has quite a portfolio going! He is really into the market though and knows what to buy etc but always tailors to her interests. For her Confirmation she got Apple stock, etc. I have education ROTHS for DD but her extra money that she saves from babysitting, etc. we let pile up to hit 500 and then buy a CD with it. Agreed it doesnt' earn much AT ALL but better than nothing...not sure about fees involved for buying single shares of stocks? Might not be worth it? I don't know that answer.