The only joint investing account for a parent and teen to share.
Schwab Teen Investor account side by side with other youth investing accounts.
Schwab Teen Investor account comparison with competition.
| Schwab Teen Investor™ account |
Fidelity Youth® Account |
Greenlight Investing | |
|---|---|---|---|
|
Description |
Joint brokerage account for teens and parents to invest together |
Individual brokerage account for teens |
Individual brokerage account owned by parents, with kids able to propose trades that require parent approval |
| Account ownership |
Assets owned jointly by the teen and parent |
Assets owned by the teen |
Assets owned by the parent |
|
Who can place trades and move money |
Trade: parent and teen Withdrawals: parent and teen |
Trade: teen only Withdrawals: teen only |
Trade: minor proposes, parent approves Withdrawals: parent only, from investing account |
|
Investment options |
U.S. equities and fractional shares, ETFs, mutual funds, fixed income |
Most U.S. stocks, some ETFs, Fidelity mutual funds only, REITs, some international equities |
U.S. stocks and ETFs (must meet certain thresholds), exchange listed sponsored ADRs, select leveraged ETFs |
|
Platforms |
Mobile app, web, and thinkorswim® platforms (web, mobile, desktop) |
Mobile app and web |
Mobile app only |
|
Subscription fees |
$0 |
$0 | $10.98–$24.98/month (investing plans) |
What makes this account different from other Schwab accounts?
Comparison to other Schwab accounts.
| Schwab Teen Investor™ account |
Schwab One® Custodial Account |
Schwab 529 Education Savings Plan |
Education savings account (ESA) |
|
|---|---|---|---|---|
|
Account type |
Joint brokerage account for teens and parents to invest together | Brokerage account is set up and managed by an adult. The assets are turned over to the child when the custodianship terminates. | Brokerage account, managed by an adult, funded by financial gifts to a minor, and turned over to the child at the age of majority | Tax-advantaged account to save and pay for qualified educational expenses |
| Best for | Hands-on learning and investing for teens | Adult-managed financial gifts to minors | Saving for education expenses for children or family members | Using as a supplement to a 529 plan to help pay for education expenses |
|
Account ownership |
Assets owned jointly by the teen and parent | Assets in child/beneficiary's name | Assets in child/beneficiary's name | Assets in child/beneficiary's name |
|
Account management |
Parent and teen |
Parent only |
Parent only |
Parent only |
|
Account open age requirements |
Parent: 18+ Child/beneficiary: 13–17 |
Parent: 18+ Child/beneficiary: 0–17 |
Parent: 18+ Child/beneficiary: any age |
Parent: 18+ Child/beneficiary: 0–17 |
| Contribution limits/ withdrawal rules |
Contribution limits: none Withdrawal limits: none |
Contribution limits: none Withdrawal limits: none if used for the needs of the beneficiary |
Contribution limits: varies by state Withdrawal limits: for qualified education expenses only (taxes and penalties may apply) |
Contribution limits: varies by income Withdrawal limits: for qualified education expenses only (taxes and penalties may apply) |
|
What happens at adulthood |
Upon turning 18, teen is eligible to assume full ownership of assets |
Assets are turned over to the child when the custodianship terminates | Assets turned over to the child at the age of majority | N/A |