New answers tagged

1

As @DStanley mentioned, there is no universally agreed upon standard as to what the timestamp actually represents. You'll have to figure that out based on the context. In most cases it doesn't really matter much because candlesticks are used as a visual representation. Visually, when you look at a candle, the timestamp is irrelevant because what you're ...


0

Ask a friends parents if they can take care of the money. Of course, be careful with whom you select but I guess most adults would be helpful in this situation. Maybe you could buy a box with a simple lock and leave at some friend's parent's house (with their permission of course). If you want to be extra careful, split it among several friends' parents. In ...


2

Consider asking your employeer if they can defer payment of your salary to a later date. You would need to check the legality of it considering your age and whatever local laws are in effect. Also obviously your employeer would have to agree to it. Also might need to stay at your current job until you turn 18. Also a way to keep track of and prove how much ...


0

Invest in shares. I think you can easily find a broker or listed company in USA which will be able to act on your behalf for sale or purchase. I am not sure about the laws but I think they will still need your consent for sale or purchase of any share which will be entitled to your name. That way it will be safe money with 50 / 50 chances of ROI as well. ...


1

It might be different where you are, and may not be quite appropriate to your circumstances, but there are accounts that are pay-in-only until a term has expired. These are always savings accounts, whether a savings bond (or a pension)! If you had something like this then you can pay all your money into it, knowing it was safe from your mother. However, it ...


0

You might ask your bank if you can rent a safe deposit box - without them telling your mother. And if it can be done in a way so nobody else has access (in case she finds out). PS. There's a comment claiming this doesn't work. There's no actual justification for that comment. And there is nothing wrong with the advice "ask your bank". The bank will say "...


3

Not ideal, but perhaps you could purchase money orders at the Post Office (this costs only a dollar or so, but see this) and store them in a safety deposit box (some states allow minors to get these)? Alternatively, and perhaps more realistically, have your money deposited to your bank account and then transfer it to a Venmo, PayPal, Google Wallet, or other ...


1

Basically, the question is how to cash a check if the USA if you are under 18. You said, "until now, I was paid in cash", so I assume that you are going to be getting checks now. If you keep cash, I suggest that you hide it. You could peel back the carpet or something and put it under there in a couple of envelopes. Seal them and put your full name on them. ...


1

Ben Miller answer mentions custodian accounts and that with them the adult does have access to the money (although only legally allowed to use it for the benefit of the child). However, I would recommend checking with the local banks/credit unions, as they may have a product where the custodian itself doesn't have access to the money. Or where the only way ...


6

If you want to save and don't mind taking a slight loss, money orders are worth a look. They behave just like a check, but anyone can buy them. You make them out to a particular recipient, and both recipient and payer must sign it. Banks accept them, and you can self-sign them to cash them out. There's usually a limit of around $1000, and they cost around a ...


10

Ok. I have heard several options on here. From "Buy a safe" to "Buy Bitcoins." Some of these are viable options, but they all have down sides. Honestly, I don't see a 100 percent option here until you are 18.....but Buying a safe wont work because Mom will either make you open it at some point or she will get drunk and break the thing and possible even get ...


2

Buy a safe It is a little bit of an investment but you can find them from for a low as 50 dollars. That way you can avoid all the legality of being a minor. It doesn't have to be as secure as you would for a burglar just enough to not make it worth it/discourage your mother to try to get into. Just don't write down the pin anywhere and if it has a key lock ...


-13

You may be interested in buying bitcoin. It allows you to maintain complete ownership over your money without use of a trusted third party. Localbitcoins.com will allow you to trade cash for bitcoin at age 16. You would need to research how to conduct a transaction safely, and only trade with people that have earned a good reputation, but if you can ...


37

If you are 100% positive you want to use your money for schooling, it may be worth looking into the Utah Educational Savings Plan (my529) You will need an adult to set it up for you but it does not have to be your mother "The account owner and beneficiary do not need to be related" It looks like you could then contribute directly and possibly even ...


67

I’m sorry to hear about your situation. There are a couple of issues at play. Parents are responsible financially for their kids until they turn 18. They are required to provide food, shelter, and clothing for you, and if you cause damages to someone, they are required to pay it. There are two results of this that affect your situation. First, it is not ...


0

You should never play earnings in the short-term. It's usually a coin toss because you never know how the market will react. If you were a short-term trader, you could sell your position before earnings. You would have made a 20% profit in a few months. If you were a longer term investor, that type of price movement would be irrelevant noise. It helps ...


0

Trading is the process of taking advantage of shorter-term price action whereas investing usually represents the purchase of a company with intent to hold for a longer-term. For example, a trader may buy a chart breakout on AAPL and hold for $5/share whereas an investor may buy AAPL at a "good price" and hold for a few years. Of course, there's a middle ...


2

Possible reasons I can think of: You are a central bank. Your goal is to inject liquidity into the system by buying bonds, and you don't care about low or even negative returns. Your bond buying program drives yields lower by design. You are a bank who wants to safely park some money, but you are discouraged from depositing more than your reserve ...


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