I want in on the stock market. I have funds but what is the best way to go from here?
Looking for self managed online trading.
Let's kick this economy up a notch!
Love them. I have had them for years through work so I’ve stuck with them. They also sometimes have deals with the company’s 401 plan (like mentioned below) where you can convert up to 95% of your existing funds into what they call a BrokerageLink acct. the funds are still tied to your employer 401, but you can trade freely on your own with those existing funds like you would with a brokerage acct. They also have lots of partnerships with other firms, and you can authorize these firms (hire them to manage your funds for you) to do the trading on your behalf for a fee, and watch all transactions from your Fidelity dashboard without having to log in anywhere else. Lots of options through them and I’ve had nothing but good experiences with them over the last decade.
If you have a 401(k), open a trading acount through the same company. This is pretty simple way. If you dont, open a Roth and trade using funds put into the Roth (at first). this will give you a tax advantage on gains. It does restrict taking it out of the Roth (or Trad IRA) before retirement, but does NOT mean you can't buy the stocks/ funds you want to.
Excellent. The big retirement companies are actually big trading groups that also do 401(k)'s. I have used a couple, and prefer TROWE Price. You can open a trading account with web tools pretty easy. Free advise you didn't ask for... You cannot beat machine traders in the short term - - - day trading is a full time job that requires significant learning curve and setup time.
Open a brokerage account with Fidelity
Free accounts, access to zero-fee mutual funds like FZROX.
Hard to beat.
Right on.
I know Fidelity. You like them?
Love them. I have had them for years through work so I’ve stuck with them. They also sometimes have deals with the company’s 401 plan (like mentioned below) where you can convert up to 95% of your existing funds into what they call a BrokerageLink acct. the funds are still tied to your employer 401, but you can trade freely on your own with those existing funds like you would with a brokerage acct. They also have lots of partnerships with other firms, and you can authorize these firms (hire them to manage your funds for you) to do the trading on your behalf for a fee, and watch all transactions from your Fidelity dashboard without having to log in anywhere else. Lots of options through them and I’ve had nothing but good experiences with them over the last decade.
Like the sound of the that. Thanks for the info!
If you have a 401(k), open a trading acount through the same company. This is pretty simple way. If you dont, open a Roth and trade using funds put into the Roth (at first). this will give you a tax advantage on gains. It does restrict taking it out of the Roth (or Trad IRA) before retirement, but does NOT mean you can't buy the stocks/ funds you want to.
I understand. Thanks very much! I think I might want to do this along with a more straight forward stock account. Long game and short game.
Excellent. The big retirement companies are actually big trading groups that also do 401(k)'s. I have used a couple, and prefer TROWE Price. You can open a trading account with web tools pretty easy. Free advise you didn't ask for... You cannot beat machine traders in the short term - - - day trading is a full time job that requires significant learning curve and setup time.
Nice. I appreciate any advice I can get. I'll probably refer back to this thread often. Thanks
That's 2 for fidelity. Never heard of Robinhood but I'll check it. Thanks!