Seeing in real time the power of investing at an early age is an amazing educational tool in and of itself. I really wish this was an option when I was a kid. There are also kid-friendly explanations of what moves a stock’s price and timelines for investing.
#Stockpile e gift card how to#
They cover broad topics like what the stock market is and how to make a trade. There are also lots of educational features I hope my nephew will explore. And he won’t be able to withdraw from the account until he turns 18 – which I like. But again, once the account is set up, my nephew can log in and take a look at his portfolio whenever he wants. I consider this a drawback only because it requires some effort from the parents as well. He’ll simply click to redeem the gift card.
And once the account is established, when I choose to send him stocks in the future, the process of adding them to his account will be much easier. There are some basic hoops to jump through, but the process is fairly straightforward. This is just like setting up a personal brokerage account. Since my nephew is under 18, his parents needed to set up a custodial account for him. Once the gift of stock is sent, the recipient (and his parents) have some initial homework to do. So that $50 in Disney stock actually cost me $54.49. It’s worth noting that there is a $4.49 gifting fee that covers brokerage fees. Then you just pay for it like any other gift card and you’re done with it. Once you choose the stock and amount you want to send, you are given the option to print or email the gift. This is what the simple and straightforward process of sending $50 in Disney stock looks like. I opted to buy $50 worth of Disney stock and send it away. But I was able to send a fraction of a share.
#Stockpile e gift card full#
The problem is I didn’t want to shell out the full price of a single share. Going through this process, I decided to send Disney (NYSE: DIS) shares to a nephew for his birthday. Once you pick a stock you’d like to gift, you choose the amount. But it does present the opportunity to invest in most of the heavy hitters that are household names. You won’t find every single company on the New York Stock Exchange here. Stockpile isn’t as comprehensive as most other brokerages. With the first two options being pretty straightforward, let’s explore the process of sending the gift of stock. You can check on and redeem any gift cards you’ve received. But there are also several tabs dedicated to gift cards. There are still tabs to buy stock, retrieve tax documents and transfer cash. Under that, you’ll find your buying power and available cash.īelow the personal account info is where things depart from traditional brokerage accounts. There’s the dollar value of your portfolio at the top left.
Once your account is set up, you’ll see that Stockpile’s interface is clean and simple. Not long ago, the only way to go about it would be to send money and hope they invest in their future.īut in reviewing Stockpile, I discovered a better way to make that happen. You can’t just pop into your brokerage account and wire a couple stocks to someone. If you’ve ever thought about giving the gift of stocks, you’ve probably discovered it’s not easy. And this is the itch Stockpile scratches. But when they turn 18, they’ll be singing a different tune. Sure, the grandkids, nephews and other little shavers won’t appreciate new holdings in their portfolio now. Stocks on the other hand are proving to be exceptionally resilient, which is why the gift of stocks makes so much sense right now. Now bonds aren’t exactly in the midst of a heyday right now. But I sure did when it came time to buy my first car and I found that I had a couple extra grand in mature bonds to help the cause. I didn’t appreciate them at all at the time. Growing up, every year my grandfather gifted me savings bonds on my birthday. It’s not trying to be everything, and it’s good at what it does… but it’s not going to replace an average investor’s brokerage. But it became clear very quickly that’s by design. After setting up an account for a proper Stockpile review, the offerings appeared sparse.
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