Please enable JavaScript to view the comments powered by Disqus.

Ask Kim

How to Buy Stocks for Kids

Start investing on behalf of your kids by opening an account on Stockpile.

Getty Images

Q

I used the ShareBuilder program through Capital One, which automatically deducted money from my bank account, to buy Disney stock for my niece. The program was discontinued. Is there a similar program?

AOnline brokerage Stockpile offers one with no monthly fees or minimums and 99-cent trades. You can sign up for automatic deductions from your bank account and invest in more than 1,000 stocks (including Disney) or exchange-traded funds. You will need to open a custodial account if your niece is a minor. But you can give her access to the account so she can place trades, subject to your approval. Dividend reinvestment is free.

See Also: 6 Stocks to Buy and Hold Forever

Got a question? Ask Kim at askkim@kiplinger.com.