We've long recommended investment clubs for all sorts of investors, and that even includes teenagers.

Investment clubs are a terrific idea for teens, as they allow for socializing and learning at the same time. Since young people have the greatest investing advantage of all -- a lot of time to let their money grow -- they stand to benefit greatly from learning about how to manage money while they're still young.

The only problem regarding clubs for teens is that minors can't trade stocks on their own. Still, teens can form clubs to learn together and maintain a pretend portfolio on their own -- perhaps filled with companies of interest to them, such as Nike (NYSE:NKE), McDonald's (NYSE:MCD), Sony (NYSE:SNE), Abercrombie & Fitch (NYSE:ANF), and Microsoft (NASDAQ:MSFT). Once they find and research companies they want to own, they can do so individually, with a parent acting as custodian of their account.

We've got an Investment Club area here in Fooldom, with many tips on how to start a club. Also, know that there's a new kind of club that might be of interest to you, or some people you care about -- the "Money Club."

Teach your kids about money with our book, The Motley Fool Investment Guide for Teens, and by pointing them to our rich Teens and Their Money area. To get answers to your burning questions about investment clubs (or just to follow what others are saying about them), drop by our Investment Club discussion board.

Longtime Fool contributor Selena Maranjian owns shares of Microsoft.