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Fidelity investments is expanding its portfolio, to people who might not have a job. I’m Brian Banmiller on Business.

The company is launching a new program called Fidelity Youth Account, designed to help people between thirteen and seventeen invest, save and spend. In order to qualify, their parents or guardians must have an account with the company. Once up and running, they will be able to save money, buy and sell U.S. listed stocks, most exchange-traded funds and fidelity mutual funds. The account comes with a debit card and younger clients will be able to trade without having to worry about account fees or commissions. And don’t worry parents, you can monitor all the financial activity going on. The company says it hopes the program will mean more conversations about personal finance and investing between the older and younger generations. This way younger kids will understand how the market and money works before they even have a regular paying job. Then when they turn eighteen the account will transition to a standard brokerage account. And if you handle it right you might be able to lower your retirement age. Brian Banmiller, CBS News.

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.