(Uniform Transfers to Minors Act) accounts can also hold physical property like real estate or fine art.
: If you have earned income (from a part-time job or even chores), an adult can open this for you. buying stocks under 18
Investing for teens: How to start building wealth early | Saxo (Uniform Transfers to Minors Act) accounts can also
Unlike a standard custodial account, you can own the account and make your own investment decisions. varies by state). Contributions grow tax-free
A parent must have their own Fidelity account and can monitor your activity, but they do not need to approve every trade.
Assets are legally yours (irrevocable gifts) but controlled by the adult until you reach the age of majority (18 or 21, varies by state).
Contributions grow tax-free, making it powerful for long-term wealth building.