9 Year Old learns Investing

Are you up for an investing lesson? Yeah. Last time we talked about funds and how your money is invested in funds. One of the questions that a lot of people had and that I told you was how do you buy a fund? I'm going to walk you through the process of what I do when I go onto the app of your 529 account (Investing account) And how do I actually invest it. The hardest part about this investing account was just opening it up for you And I did that when you turned one Because I put all your birthday money into that account from the very beginning. Because I'm using my phone to film I had to do screenshots of the process And I figured it was a little easier too 'cause then you can visually see. So I log into your 529 account This is my home screen of your 529 accounts It has your name and your sister's name 'cause those are the two accounts that are under my name Those are your current balances So if we scroll a little bit down And then on here it says Contribute now What does that mean? Put money into it So anytime I move money it's a contri- contribution to your 529 account So that's what we're gonna click. That takes us to the screen the contribute screen Whose education are you funding today? Highlight your name So the next screen is how much? 20 23, 24 Here it gives you options $50 $100 $250 $24 Recurring Contributions Would you like to set up a recurring contribution? Yes, make it monthly Yes, but I'll choose how often No, just this one time Which bank would you like to contribute from? So mommy and daddy already have that set up where we contribute Every month and to your sister's account In this particular case because we're doing a specific amount it's no, just this one time And then the last question is Which bank would you like to contribute from? It comes from mommy and daddy's bank account, right? And then the last thing is everything correct? Yeah, so then we submit The money has been transferred over Anytime money gets transferred over from our account to your 529 account I don't have to go in there and make the purchase of your funds I set it up to be automatically This screen, if you go to your name It tells you activities What contributions you've done in the past Performance How well your investments have done And then lastly what your investments are that your investments are all Growth stock index portfolio Right here it tells you what your current investments are in And then you see right here it says future allocations So this is what I set up I'm telling them for any future contributions or allocations I need you to invest it into the growth stock index portfolio So the same thing as here Does that make sense? Yeah It won't be the only time you'll see it Maybe next time you can actually do it on the phone Now that you know how it works 2-step process And it is pretty much the same process with any investing account So even when you get older and you have other investing accounts, which you will. You'll know that first you contribute And then you invest And both of those things have to be done in order for your money to be working for you. I got it!