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Fidelity Youth™ Account: Earn $50 reward once account is activated Expired
Update: This deal is still available.
Open a Fidelity Youth™ Account for your teen, and $50¹ will be deposited into their account. No account fees or minimums.
Account Benefits:
Disclosures:
The Fidelity Youth Account can only be opened by a parent/guardian. Account eligibility limited to teens aged 13-17.
¹Limited Time Offer. Terms Apply. Before opening a Fidelity Youth Account, you should carefully read the accent agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen's activity in the account.
²The Fidelity Youth™ app is free to download. Fees associated with your account positions or transacting in your account apply.
³ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
⁴Your Youth Account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account. The Fidelity® Debit Card is issued by PNC Bank, N.A, and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.
⁵Fractional shares quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
Open a Fidelity Youth™ Account for your teen, and $50¹ will be deposited into their account. No account fees or minimums.
Account Benefits:
- Open a Fidelity Youth™ Account once they download the Fidelity Youth app and activate their Youth Account.
- The app is free²—plus, no monthly fees or account minimums to open.³
- Teens get their own debit card with no domestic ATM fees.⁴
- Interactive lessons, video, articles, tools, and calculators help jumpstart your teen's financial education. Teens get reward dollars for every level they complete.
- Learning to invest is easy. Teens can invest in stocks, mutual funds, and ETFs with as little as $1.⁵
- Parents can keep an eye on their teen's spending, set up alerts, and maintain visibility into account and trading activity.
- Teens are empowered to make, manage, and invest their own money so they feel more prepared for their financial future.
Disclosures:
The Fidelity Youth Account can only be opened by a parent/guardian. Account eligibility limited to teens aged 13-17.
¹Limited Time Offer. Terms Apply. Before opening a Fidelity Youth Account, you should carefully read the accent agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen's activity in the account.
²The Fidelity Youth™ app is free to download. Fees associated with your account positions or transacting in your account apply.
³ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
⁴Your Youth Account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account. The Fidelity® Debit Card is issued by PNC Bank, N.A, and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.
⁵Fractional shares quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
Original Post
Written by
Edited December 15, 2023
at 11:34 AM
Fidelity
For those interested
Note, offer valid for a limited time only or while promotion last
This may be useful for parents/guardians looking to jump-start their kids financial learning
For a limited time when you open a Fidelity Youth Account for your teen, they will get a $50 reward
Parent/guardian must have a Fidelity account first, so you can provide hands-on support, monitor their account, easily transfer money, and more. You can open accounts for yourself and your teen with no account fees or minimums.
For those interested
Note, offer valid for a limited time only or while promotion last
This may be useful for parents/guardians looking to jump-start their kids financial learning
- Fidelity Offer: Parent/Guardian: Open a New Fidelity Youth Account for Your Teen Aged 13-17 & Receive Free $50 Reward Offer
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Quote
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Introducing the Fidelity Youth Account. Accessible through the Fidelity Mobile App, the experience is customized for teens 13 to 17 to help them learn to save, spend, and invest.
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Parent/guardian must have a Fidelity account first, so you can provide hands-on support, monitor their account, easily transfer money, and more. You can open accounts for yourself and your teen with no account fees or minimums.
- Free Debit Card
- Teens get a free debit card, with no subscription fees, no account fees, no minimum balances, and no domestic ATM fees
- Save Early
- Investing can help teens take advantage of compounding early to help them grow their money over time
- Empowering teens with education
- Teens can access a financial curriculum made just for them—so they can learn about saving, spending, investing, and more
- Secure app
- Teens can manage their money and invest using Fidelity's secure mobile app, plus link to payment apps like Venmo and PayPal.3
- Starting on January 24, 2022, when you (parent or guardian) initiate the opening of a new Youth Account and your teen (aged 13–17) downloads the Fidelity Mobile App and activates the new account, your teen will receive a $50 deposit as a reward
- In order for your teen to receive the $50 reward offer, you (parent/guardian) must initiate the opening of a new Fidelity Youth Account through Fidelity.com/YouthAccount and your teen (aged 13–17) must download the Fidelity Mobile App and activate the new account on or after January 24, 2022
- Parent/guardian must have their own Fidelity brokerage account to open an account for their teen.
- Parent/guardian must initiate the application process and once completed, the teen will receive instructions on how to download the Fidelity Mobile App and activate their account.
- No further investment or trading is required to qualify for the offer
- Age of account applicant. Youth Accounts are only available for teens aged 13 to 17. If your teen is 18 or 19, they may apply for a different account type and/or offer instead
- Limited to one offer per customer
- Non-US residents are not eligible
- The reward will be deposited directly to the eligible account within 10 calendar days after the teen has downloaded the Fidelity Mobile App and activated their account (which entails creating a username/password, and logging into the mobile app and accepting account agreements). Amounts deposited by Fidelity in the form of the reward will be initially held in the Fidelity Government Money Market Fund, the eligible account's core position.
Created 01-26-2022
at 05:15 AM
by Discombobulated | Staff
in
Finance
(5)
Fidelity
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I don't have an account with them.
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For our 4 yr old, I opened Connecticut 529 plan (CHET) and just setup direct deposit through paycheck.
Depends on your scenario. Most adults won't have enough for retirement. That should be first priority. Additionally, depending upon your child's abilities, colleges will include 529s and reduce academic merit dollars because of it. They won't include retirement funds. In our case, we invest for retirement, max out academic merit because we don't have 529s, and plan to pay off child's academic debt when we turn 59.5. There's plenty of help to pay for college, not so much for retirement.
You choosing to forfeit 20% of your gains is a huuuge cost for the liquidity you want. Ouch. Plug in some numbers into compounding calculators, move it forward 10, 20, 40 years, then see what leaving 20% on the table is costing you. A lot. Anyway, like I said, I explained the advantages of a 529 for free. At least you've learned 529's are extraordinarily less restrictive than you thought. You're welcome.
Nothing in life is free, I'd like to add. You're forgetting the costs.
You choosing to forfeit 20% of your gains is a huuuge cost for the liquidity you want. Ouch. Plug in some numbers into compounding calculators, move it forward 10, 20, 40 years, then see what leaving 20% on the table is costing you. A lot. Anyway, like I said, I explained the advantages of a 529 for free. At least you've learned 529's are extraordinarily less restrictive than you thought. You're welcome.
And not sure why you would think you'd leave money in a 529 for 40 years. If you do, then you chose the wrong account. Fees will eat you alive.
Never seen anyone so in love with these restrictive accounts. First time ever. Most everyone else wants flexibility. Put some money into these accounts as a hedge sure. But you make it sound like these accounts are the best thing in the history of investment options and you should throw your life savings into them. Let us know in 20 years your 529 balance and we can compare it to our taxable investment account balances. I highly doubt people are posting on wsb their 529 account balances lol. And even if you had a huge balance you can only use it for specific purposes and for many people that plan may not even come true.
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And not sure why you would think you'd leave money in a 529 for 40 years. If you do, then you chose the wrong account. Fees will eat you alive.
Never seen anyone so in love with these restrictive accounts. First time ever. Most everyone else wants flexibility. Put some money into these accounts as a hedge sure. But you make it sound like these accounts are the best thing in the history of investment options and you should throw your life savings into them. Let us know in 20 years your 529 balance and we can compare it to our taxable investment account balances. I highly doubt people are posting on wsb their 529 account balances lol. And even if you had a huge balance you can only use it for specific purposes and for many people that plan may not even come true.
Exactly. You mirrored my concerns as well. There are just too many constraints for me but it is also the right tool for others...I won't judge. Just know your options.
Investing is not difficult...or rather you can make it as difficult as you want it to be. Some simple rules...time value, buy low/sell high, low-and-slow, boring companies, dividends, and low-to-know fees.
The hardest part, in my opinion, is not investing, it's when to leave.
And not sure why you would think you'd leave money in a 529 for 40 years. If you do, then you chose the wrong account. Fees will eat you alive.
Never seen anyone so in love with these restrictive accounts. First time ever. Most everyone else wants flexibility. Put some money into these accounts as a hedge sure. But you make it sound like these accounts are the best thing in the history of investment options and you should throw your life savings into them. Let us know in 20 years your 529 balance and we can compare it to our taxable investment account balances. I highly doubt people are posting on wsb their 529 account balances lol. And even if you had a huge balance you can only use it for specific purposes and for many people that plan may not even come true.
Yes, I'm in love with tax-advantaged accounts. These are mainstream financial strategies. This is how you shelter investment income. You need to read up more on financial strategies, or at least talk to a financial advisor. These strategies are well documented. You must be hanging out with different people than I, don't have the liquidity, or simply researching the wrong information. Unfortunately, this medium is not allowing me to help you. You pay taxes on gains at sale, not every year (except on mutual funds). You're not thinking about this clearly if you think forfeiting 20% of your gains when selling is not a big deal. This is my last attempt trying to explain, so let me try being explicit instead. If you earn $100K in gains, you forfeit $20K. If you earn $1M in gains, you forfeit $200K. Also, making these sales will blow your tax return for the year way out of whack if you're writing down large gains. It could be pushing you into the next tax brackets or giving up deductions you'd otherwise have. Investment gains push up your AGI. This is why even people above the allowed income ceiling for Roth IRA are eager to backdoor that $6K in every year. If you think this is peanuts I'm not sure what else to say.
For your own sake research this.
Yes, I'm in love with tax-advantaged accounts. These are mainstream financial strategies. This is how you shelter investment income. You need to read up more on financial strategies, or at least talk to a financial advisor. These strategies are well documented. You must be hanging out with different people than I, don't have the liquidity, or simply researching the wrong information. Unfortunately, this medium is not allowing me to help you. You pay taxes on gains at sale, not every year (except on mutual funds). You're not thinking about this clearly if you think forfeiting 20% of your gains when selling is not a big deal. This is my last attempt trying to explain, so let me try being explicit instead. If you earn $100K in gains, you forfeit $20K. If you earn $1M in gains, you forfeit $200K. Also, making these sales will blow your tax return for the year way out of whack if you're writing down large gains. It could be pushing you into the next tax brackets or giving up deductions you'd otherwise have. Investment gains push up your AGI. This is why even people above the allowed income ceiling for Roth IRA are eager to backdoor that $6K in every year. If you think this is peanuts I'm not sure what else to say.
For your own sake research this.
Sooo, to pay 20% you must earn more than 459k in income in 2022. For the rest if us mere mortals, it's 15%. And if you earn less than 41k, it's 0%. While your point stand, a 25% reduction from the top rate is significant and can definitely change the calculus for many considering 529s or any different investment option. It is certainly possible to plan your existence to need less than 41k year and pay zero dollars. For example, you're not required to live in the USA and live a comfortable life.
For the 0% it's actually 80K if you get married. That's something the FIRE movement gets giddy exploiting. I think 80K is very doable in the US. Might have to avoid those big cities with high costs of living though.
For the 0% it's actually 80K if you get married. That's something the FIRE movement gets giddy exploiting. I think 80K is very doable in the US. Might have to avoid those big cities with high costs of living though.
Financial literacy is a maze but achievable. Too bad most people think otherwise and think short-term. If the pandemic should have taught most of us it's that most of our time and expenses is spent on pointless non-essentials and short-term thinking (looking at you, entertainment industry). Most tragic is most will forget what they've learned then be mad at the rest of us who didn't forget and benefited with long-term thinking starting with investing wisely.
Your last point has me confused. I'm not clear what a financial aid scholarship is versus a merit scholarship. Our experience is financial aid means loan eligibility which also means it must be paid back. And in hindisght, I think you're correct so I stand corrected.
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Just so you know Goldman Sachs also owns slickdeals.com (2018)
Anyone who curious, you will probably see more Fidelity Product Services on Slicks Deals going forward.