There are so many people that hear about “investing” but just don’t know where to start. Usually, that’s where it ends…
Most don’t know that their start to a better financial future has always been closer than they could imagine. Many times people are told they need a nice lump some of money in order to start investing, which isn’t true. We are familiar with having a checking and a savings account because that is what we are taught to have…but what about a brokerage account?
Never heard of it? Well…you probably heard the term “broker” before…as in real estate broker, or mortgage broker or investment broker. Basically those individuals handle negotiations and transactions…like a middle man. Well a brokerage account will allow YOU to handle transactions and negotiations on your own. Its just like having a savings account except you have access to make investments in the stock market, ETFs (exchange traded funds), mutual funds, index funds and more.
Here is the great thing…it cost you NOTHING to open up one. You have discount brokerages and full service. Full service has financial advisors available if needed. Once you choose a brokerage firm you like, you put in your information, attach a bank account and you are all set to go and read to transfer money into your brokerage account.
Wait…are there any fees associated with brokerage firms? Yes, anytime you make a trade/investment into a stock, mutual fund, etc. Anywhere ranging from $0.99 and up. Each firm is different and you can check out the fees before creating your account. Also, there are some brokerage firms that may require an account minimum, but most do not.
Here are a few brokerage firms you can check out…
just to name a few….
How to open up a brokerage tutorial: How to open up a brokerage account
Check it out….and be sure to do your own research. Always remember if you don’t understand something…Google it or YouTube it.