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Tips/Help for a first time investor!
Posted on 3/24/20 at 10:59 am
Posted on 3/24/20 at 10:59 am
I’ve got some savings I’ve been sitting on for a while now and regretting not doing something with it. Other than my Roth IRA that I haven’t put anything into for 10 years (which is managed by someone I don’t ever talk to at Edward Jones) I don’t have any experience investing. Given the current market drop, I’d like to give investing on my own a shot and am looking for where to start.
Can anyone give me specifics of the best apps/platforms to use. From what I’m reading the big tech stocks are very underpriced at the moment. I’m hoping to capitalize on my lack of investing by riding this thing up and getting some extra cash I can use in several years for renovating my home. Any advice is appreciated!!!
Can anyone give me specifics of the best apps/platforms to use. From what I’m reading the big tech stocks are very underpriced at the moment. I’m hoping to capitalize on my lack of investing by riding this thing up and getting some extra cash I can use in several years for renovating my home. Any advice is appreciated!!!
8
Posted on 3/24/20 at 11:01 am to NorthshoreTigerGirl
Fidelity or Vanguard
Read Bogleheads.org for information
The only fund you need is either ITOT if you’re using Fido or VTI if you’re using Vanguard.
Read Bogleheads.org for information
The only fund you need is either ITOT if you’re using Fido or VTI if you’re using Vanguard.
Posted on 3/24/20 at 11:03 am to NorthshoreTigerGirl
Fidelity
Posted on 3/24/20 at 11:03 am to OleWarSkuleAlum
quote:
The only fund you need is either ITOT if you’re using Fido or VTI if you’re using Vanguard.
false...not everyone has the same financial needs
Posted on 3/24/20 at 11:04 am to NorthshoreTigerGirl
READ THE STICKY!!!!!
Posted on 3/24/20 at 11:05 am to NorthshoreTigerGirl
I went with Fidelity. Takes about 5 or 6 business days to get up and going.
Posted on 3/24/20 at 11:07 am to NorthshoreTigerGirl
Posted on 3/24/20 at 11:13 am to NorthshoreTigerGirl
Just save the money for when the casinos open back up. You’re going to get slaughtered or maybe get lucky. Same result, so may as we’ll get free drinks while your doing it.
Why don’t you call the person who is “managing” your money and ask him.
Why don’t you call the person who is “managing” your money and ask him.
Posted on 3/24/20 at 11:15 am to NorthshoreTigerGirl
Pics for advice?
Posted on 3/24/20 at 11:27 am to TigerDeBaiter
Because I’m not a priority of his and am going to be leaving him soon. He will answer my calls but doesn’t seem to have much time for me when I reach out because I’m the little fish.
Posted on 3/24/20 at 11:31 am to NorthshoreTigerGirl
The time is now. Put all you can in an s&p index fund, dollar costs average bimonthly while you read more and learn.
Posted on 3/24/20 at 11:37 am to LSUregit
quote:
The time is now. Put all you can in an s&p index fund, dollar costs average bimonthly while you read more and learn.
What about diversifying? I’m clueless in all this stuff.
Posted on 3/24/20 at 11:43 am to prostyleoffensetime
quote:
Takes about 5 or 6 business days to get up and going.
Anything that I can get into quicker? I’m hoping to invest Thursday after the jobs numbers are announced. A family member just sent me a link for Robin Hood (which is supposedly an app I can use). Anyone have experience with this?
Posted on 3/24/20 at 12:24 pm to NorthshoreTigerGirl
I wouldn't put $20 into a Robinhood account, but that's just me. You'll have access to many valuable educational resources if you go with a major firm. People seem to use Robinhood who want something "easy", and one that doesn't encourage or enable them to learn good investing or trading lessons. So go with a real brokerage firm. They're pretty much all sitting at $0 fees now. Pick & choose from the ones mentioned in this thread. TD Ameritrade is another one.
Move/transfer your account from Edward Jones ASAP. You're likely paying fees that you don't need to.
Given your investment knowledge at this point, stick with index or sector ETFs or mutual funds. Some people on here believe that they can pick stocks and beat the market averages. Maybe they will. But most likely they won't (over time). Professional money managers tend not to, but some people think that they're different/special. So be it.
Lastly, read the stickie, as Fat Bastard suggested.
Move/transfer your account from Edward Jones ASAP. You're likely paying fees that you don't need to.
Given your investment knowledge at this point, stick with index or sector ETFs or mutual funds. Some people on here believe that they can pick stocks and beat the market averages. Maybe they will. But most likely they won't (over time). Professional money managers tend not to, but some people think that they're different/special. So be it.
Lastly, read the stickie, as Fat Bastard suggested.
Posted on 3/24/20 at 12:40 pm to NorthshoreTigerGirl
I opened a TD Ameritrade a few weeks ago. I can't remember how long it took to trade after submitting a deposit, but no more than a couple days. The sign up experience was easy...I did it on my phone.
Posted on 3/24/20 at 12:46 pm to deaconjones35
That sounds promising with TD Ameritrade. How user friendly is the app?
Are there any type of offers, bonuses, etc that I should be looking for or get a referral code on? The family member who sent me a link to Robin Hood had an offer of a free stock for me and them if I sign up (although it looked to only be a $7 value). Do any of these sites offer larger “sign up bonuses” for larger investment amounts?
Are there any type of offers, bonuses, etc that I should be looking for or get a referral code on? The family member who sent me a link to Robin Hood had an offer of a free stock for me and them if I sign up (although it looked to only be a $7 value). Do any of these sites offer larger “sign up bonuses” for larger investment amounts?
Posted on 3/24/20 at 2:12 pm to Fat Bastard
quote:
READ THE STICKY!!!!!
Read through a lot of the sticky. Curious if some of the 4-6 year old advice is relevant in an extraordinary situation like we are in today. Anything y’all would do different if you were jumping into the market today vs a normal year?
Posted on 3/24/20 at 2:13 pm to NorthshoreTigerGirl
quote:
Do any of these sites offer larger “sign up bonuses” for larger investment amounts?
The 12 Best New Brokerage Account Promotions for 2020
Posted on 3/24/20 at 2:15 pm to Jag_Warrior
quote:
Move/transfer your account from Edward Jones ASAP. You're likely paying fees that you don't need to.
I’m paying $40/year at this point and that’s it. Don’t know if that’s good or bad. Problem with getting out of Edward Jones is that the advisor is a family member who I got with in my 20s (lesson learned!). Not sure how to exit at this point. That’s why I’m considering just opening a second account on my own.
Posted on 3/24/20 at 2:24 pm to NorthshoreTigerGirl
quote:Someone tell her
I’m paying $40/year at this point and that’s it.
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