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In Ontario, a person attains the age of majority and ceases to be a minor when they attain the age of 18. Generally, individuals who have not reached this age cannot enter into contract. A trust account may be able to be opened on behalf of a minor beneficiary by a parent or guardian.
These previous Investing Questions questions may help to provide further insight before taking action.
- “How do I get investing advice?”
- “How do you open an investment account?”
- “Can an RRSP be opened for a minor?”
- “How can I get started with investing?”
The resources on GetSmarterAboutMoney.ca including, the getting started, making a plan, and getting advice hubs will help build your knowledge in these and other areas. Speak with a registered financial representative for advice to fit your personal financial goals and situation.