How can Stockpile help your children?
Updated: Feb 24, 2020
Do your kids know about the stock market?
I consider Stockpile more of an educational platform for kids rather than an investment broker. It’s a lot like Stash, where you can buy partial stocks based on how much money you want to put into it, for as low as $1 of stock. They both also use the familiar logos of the company for easy recognition of your favorite brands. There aren’t a lot of tools to work with though.
The main benefit of Stockpile is its ease of giving stocks as gifts. The drawback is each transaction costs 99¢, so depending on how much you invest, it can be hard to make up for these costs. I prefer this to the monthly costs of Stash though, because it only charges when I do something and the fewer transactions you have and the more money you put in, the less difference it makes. I would recommend generally buying no less than $50 of stock.
However, I only put about $30 quarterly into Stockpile. This is just so I can get familiar with it. I plan to open a custodial account for my future children (I hear these are really good) and teach them how the market works with it.
Good for gifts - you don't even need an account to give gifts!
Good for kids - very easy to understand investing.
Partial stocks as low as $1
Logos and brands you can recognize