Are You Ready to Invest But Don’t Know Where to Start?
Are you ready to invest but wondered, “How do I pick a brokerage firm and open an account?” Over two and a half years ago it became obvious I needed to find a brokerage firm to handle my retirement money. It sounded like an intimidating task. I didn’t know hardly anything about stocks and investments outside of buying and selling houses (which had ended badly.) And I didn’t want to be taken advantage because of my lack of knowledge.
Water Cooler Talk?
I don’t know about you, but in my job, nobody is in the teacher’s lounge talking about their broker. Or investments. (Why do they call it a lounge? We are sitting on hard chairs wolfing down our lunch in 10 minutes or less. But I digress.) I feel like if I went up to a colleague and asked if they had any brokerage recommendations, they’d just give me a blank stare. It seems like women do not talk about that sort of thing.
Look for a company that is offering promotions
So I went online and looked up brokerage firms. Of course they all want your money so you’ll see any deals they are promoting smack on their home pages. I knew I wanted to have a self directed account (one that I or in my case, family member, would be making the trades.) Can’t decide? See Self Direct or Professionally Managed Portfolio? What To Do? There are quite a few companies, but here are a few well known ones:
- Charles Schwab
- TD Ameritrade
But there are several more out there. Just google brokerage firms or online brokers and you will get several lists. If you want your account to be professionally managed, then make sure the company has that service.
Online or physical office? What’s your preference?
I chose one that I recognized and found out that they had a promotion going on at the time. It also had a local office so I made an appointment and went down in person. I’m sure you can open an account online. I personally like having a contact person so it was worth it to me to physically go to the office and meet my financial consultant. Whenever I have a question, I just call and talk to him.
On your way!
That’s about all that is to finding a company and opening an account. The nice thing is that if you aren’t happy with them, you can always change. You might have a commitment period if you get the benefit of a promotion, but that shouldn’t be very long. And now you are on the path to creating wealth!
Until next time,
Linda Davis (“Publisher”) provides this website (www.stockmarketgal.com) for informational purposes only. All information on this website is information of a general nature and is not intended to provide specific advice or recommendations for any individual or entity or on any specific security or investment product. In reading this website, you understand that Publisher is not advising you personally concerning the nature, potential, value, or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. In making an investment decision, each investor must rely on his, her or its own examination of the investment, including the merits and risks involved, should consult with his, her or its own investment, trading, financial, legal, tax, accounting and other advisors, and should not construe any information on this website as investment, trading, financial, legal, tax, accounting or other advice. From time to time, Publisher or her affiliates may hold positions in securities discussed on this website and will disclose those positions if applicable, but neither Publisher nor any of her affiliates receives any compensation from the issuers of any securities discussed. Publisher does not warrant the accuracy or completeness of any information provided, either expressly or impliedly, and expressly disclaims all warranties of any kind.