Greenlight Debit Card + Invest HONEST REVIEW - Teaching Kids Investments
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- Greenlight Debit Card + Invest for Kids HONEST REVIEW - Teaching Kids Investments
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First Greenlight Review video: • Greenlight Card HONEST...
I’m interested in Greenlight max but only for the phone protection and the lost or damaged items. How does that part work?
Is the invest part an entire separate card? My sons green light card is coming between Friday and next Monday. And he just asked for the invest part. If I did get the invest would it send an entire other card so we would have to wait and other 1-2 weeks? Or maybe could it add on the invest to the existent card.
No it will be the same card. You’re just upgrading your “subscription”. It just gives you more access with your current card.
Do you get paid in dividends aswell
Does it work with Apple Pay
Yes
Apple restricts Apple Pay for children under 13 while Google restricts Google Pay for children under 16
When are you doing Greenlight Card Max
I have a video on that now :).
Will kids have to start filling taxes each year if they get this?
File taxes if they are cashing out their gains which is creating taxable income. Also pay taxes on dividends.
I would teach your kids to invest their money long term.
You are their custodian so you have a say. Tell them they will need to keep their stock investment long term until they are at least 21 years old. No buying and Selling stocks as a child, period! Buy yes. Sell no. No trading.
Kids are very eager, and can give into peer pressure when they are teens to buy the latest gadget (or buy a car) and blow their money. You want to protect their money.
How is the capital gains tax and every transaction time, date , ticker, cost basis, sell price. etc handled?
It's all taxable income and taxes will need to be paid on the income.
Thanks for posting 👍
Can this work from an Andriod tablet? My youngest does not have a cell phone.
Yes it works with Android
Liked and subscribed, thx for the help!
Any time!!
@@MrGizmo211 my name is Tony smith merry Christmas 🎅 🎄❤ 🎄❤ 🎄
Thanks for the video!
I have a question: does Greenlight provide an app for children?
Or is the app just for the parents?
It would be great to have an app where the child can directly save his/her money without parents.
There is an app for the kids and the parents.
But how does the child access the account to the there money
@@BeauRaids through an app
@@SuedeCrushlol what app
@@roneeyhines7617 it’s just called green light.
0 dislikes. Well deserved!
Thank you!
Well now 1 dislike (but the 100 likes beat the dislike)
What if you only want the invest feature and not the debit card
Well don’t buy the debit card but you will not be able to use the money
Then get an actual investing
App
One more question, is it worldwide?
If yes, can someone from the Caribbean without a social security number and a U.S phone number sign up to Greenlight?
If i were to buy something for green light like from my card and i only had 9 dollars and i had late sayyy 12 in savings if i were to buy something would it subtract from my savings because i needed 11.57?
no. it wouldnt go through at all
Did you ever do the video on max I don't see one
Thank you for the video.
Can I use zelle, PayPal or cash app to transfer money to the Greenlight debit card?
@Noah385__no you can’t I asked an official and they said “I am so sorry to inform you that as a card designed to teach children financial responsibility and monitor their spending, we block Person to Person transfer services, such as PayPal transfers, Venmo, Apple Cash, Zelle, or Cash App.
We sincerely apologize for any inconvenience this may cause you; however, we do have an option for you to receive payments through our Paylink feature! The link is located in your app as long as the feature is turned on by the parent, and it can be shared with friends and family!
If we can be of further assistance, please do not hesitate to let us know.”
how do you know your pin?
You make your pin.
It’s in the back of the card I think
It tells u in the app
When you get your card you go into the app and activate it, when you do that it will ask you what you want your pin to be
@@peterwest-mccauley3591 not to be rude but it would not be allowed to be on the back because pin codes are supposed to be private and if someone stole a card they be able to use it that’s why we have pin codes to keep it Secure
I just got Greenlight Max. I thought it was awesome parents can invest as well. I have never invested before and need something. Going to have the kids invest something as well.
Can you tell me about the phone protection and repair portion that offers? That’s the only reason I’m interested.
Love the room!
Can you sell and get money instantly?
Yep
okay, so we upgraded to investing, why can’t you transfer money from your spend anywhere to your cash to invest? why does it have to be from the parents wallet?
That’s my question too! I have to move my money to the parents wallet and then my mom had to move it to my investing cash
@@TylerKingeryy me too, i think that’s strange though. maybe there’s an option for the parent to allow the child to move from spend anywhere to cash to invest.
There’s a drop down menu to choose where to take it from
@@Itscharley_ obviously duh, there’s no option it’s only to transfer to parents wallet
You can now
Does it allow for crypto trading?
Great question - I have not read that it does. Let me see if I can find anything on that.
@@MrGizmo211 what did you find?
How different is the stock investment than Roth IRA’s?
Stocks, you’re buying a tiny piece of a company. When the company grows, your shares grow. Roth IRA’s are savings programs that are tax free. Roth IRA‘s grow because the manager of that IRA invest the money for you but they also charge you fees.
It’s different because it is not an investment account. So there are no restrictions on how much you can contribute and when you can withdraw it.
Roth IRA's are great retirement accounts where the money you put in has already been taxed, so your money grows tax free.
A stock can actually be bought in a Roth IRA brokerage account. You can purchase stocks, mutual funds, index funds, and ETFs in the Roth IRA account.
Everyone who is qualified should be investing in a Roth IRA.
Love love love our Greenlight Cards
How old are the kids that use it?
What happens when you lose a card? Can you get a new one?
I think so but I'm not sure
You can but they do charge you.
So what should children learn when after a few years their stock investment crashes with the market. They see their investment dwindle while watching large Corporations continue to profit? Don't let children gamble! Banks have slow growth, but you don't lose your money. In the end slow growth out preforms market losses for small investors! But if you want your child to learn hard market lesson's ,by all means invest away! Teach your children to save, NOT INVEST!
Are you able to invest in crypto with it?