Hey everyone! I will be turning 18 in a little over a month and will be both getting a debit card and creating a checking account very quickly once I turn 18.
My parents are against me creating a self managed brokerage account and are only okay with me investing through a friend who is a financial advisor.
However, the brokerage he uses has ridiculous fees to the point of being down 10% automatically once I got up to $400 invested (I was charged $40 in maintenance fees). This is a Roth IRA btw.
I would really really like to create an account through robinhood or something similar and just invest in some etf’s and not pay 10% in fees. However, if my parents found out they would be upset (I don’t understand because I will be 18 but they are still my parents and I’m living under their roof). So if I invest in etf’s or (anything for that matter) and don’t touch it for a few years, do I have to file that account on my tax statement since I didn’t realize any gains or losses? If I have to add it to my tax statement my dad will find out bc he does my taxes.
Tia!
Submitted September 11, 2022 at 02:22AM by Expert_Diamond8099 https://ift.tt/AOd1TPz
