My first step to stock market!

[luvya]

Really thinking about putting some investment in stock market now, but first comes first..I need a brokerage account, I don't know which account you guys have and how do they differ? I am thinking TD Waterhouse right now because....well, that's the only one I know of🙁 They charge 9.95 per transaction...and I am not aware if there will be other charges or not. What are the possible hidden charge? And which brokerage account u guys recommend?

Btw, do you guys buy on margin? I never really consider it...but if company would lend free money for me to invest, I would love to take the chance 🙂

 

[Rastus]

House first.
Fund your retirement account as much as you can afford.
Never buy on margin, that's going into debt. One margin call can wipe you out.

 

[wyvrn]

Good advice. I completely agree. Stock market investing should be done with discretionary funds, ie anything left over after shelter, food, transportation, retirement, education, and entertainment expenses.

Originally posted by: Rastus
House first.
Fund your retirement account as much as you can afford.
Never buy on margin, that's going into debt. One margin call can wipe you out.

 

[luvya]

retirement account? Eh..I am 25 and have not think about retirement at this time.
Damn..I just found out they need at least $1000 to fund the TD account... 🙁
I have the money...just thought no minimum would be better..

 

[Viper GTS]

Originally posted by: luvya
retirement account? Eh..I am 25 and have not think about retirement at this time.
Damn..I just found out they need at least $1000 to fund the TD account... 🙁
I have the money...just thought no minimum would be better..

If you're 25 and haven't thought about retirement, you have NO business dabbling in the stock market.

Viper GTS

 

[Hector13]

Originally posted by: Viper GTS

Originally posted by: luvya
retirement account? Eh..I am 25 and have not think about retirement at this time.
Damn..I just found out they need at least $1000 to fund the TD account... 🙁
I have the money...just thought no minimum would be better..

If you're 25 and haven't thought about retirement, you have NO business dabbling in the stock market.

Viper GTS

there is no reason he shoudn't be thinking about the stock market. How else do you plan on investing for your retirement? You need to allocate some money to stocks. If you don't have a employee sponsered 401k, perhaps you can open up an IRA account for yourself (they usually have lower minimums as well).

 

[Pliablemoose]

Food
Clothing
Shelter
Transportation
Pay off debits
Fund your retirement, if you start @ 25, you'll be a multi millionaire (& you'll need to be)
Invest

(never, never, never buy on margin)

BTW, why the hell weren't you buying when the market was going down?

Contrarian investing baby... I'm 100% out of the market by the end of the month, back in this fall...

Edit (I won't be 100% out of the market this month, maybe 85% of assets out by the end of the month)

 

[theNEOone]

you sound like a noob, and the last fvcking thing you want to do at this point is invest on margin. jesus, use your head people.

 

[LongCoolMother]

Originally posted by: theNEOone
you sound like a noob, and the last fvcking thing you want to do at this point is invest on margin. jesus, use your head people.

yea, my dad bought on a margin before the stock market crash. needless to say, he lost more than 2 million dollars on the stock market.

 

[luvya]

Originally posted by: Viper GTS

Originally posted by: luvya
retirement account? Eh..I am 25 and have not think about retirement at this time.
Damn..I just found out they need at least $1000 to fund the TD account... 🙁
I have the money...just thought no minimum would be better..

If you're 25 and haven't thought about retirement, you have NO business dabbling in the stock market.

Viper GTS

I don't think the problem is that serious. Basically, I am just trying my hand on stock market, I have been a business student for years, and know quite well what the financial world looks like. I just need to start somewhere, if I like it I will invest more, if I don't like it I will quit. No biggie.

Now, anyone know any other brokerage account offer free transaction? read that somewhere before..

 

[Pliablemoose]

Originally posted by: luvya

Originally posted by: Viper GTS

Originally posted by: luvya
retirement account? Eh..I am 25 and have not think about retirement at this time.
Damn..I just found out they need at least $1000 to fund the TD account... 🙁
I have the money...just thought no minimum would be better..

If you're 25 and haven't thought about retirement, you have NO business dabbling in the stock market.

Viper GTS

I don't think the problem is that serious. Basically, I am just trying my hand on stock market, I have been a business student for years, and know quite well what the financial world looks like. I just need to start somewhere, if I like it I will invest more, if I don't like it I will quit. No biggie.

Now, anyone know any other brokerage account offer free transaction? read that somewhere before..

Are your credit cards/auto loans/student loans paid off?

 

[toant103]

Originally posted by: luvya
Really thinking about putting some investment in stock market now, but first comes first..I need a brokerage account, I don't know which account you guys have and how do they differ? I am thinking TD Waterhouse right now because....well, that's the only one I know of🙁 They charge 9.95 per transaction...and I am not aware if there will be other charges or not. What are the possible hidden charge? And which brokerage account u guys recommend?

Btw, do you guys buy on margin? I never really consider it...but if company would lend free money for me to invest, I would love to take the chance 🙂

buy acdo

🙂

 

[DaveSimmons]

Now, anyone know any other brokerage account offer free transaction? read that somewhere before..

no solvent ones (what would their business model be?)

Brokerages offer no-load / no-transaction-fee mutual fund purchases, but those are for long-term investing with heavy fees for holding less than 6 months. They can do this since they get a kickback from the mutual fund company and/or are the mutual fund company themselves (and making moeny off the fund management fee).