I have been looking at e*trade and buyandhold.com. I am wondering about how the taxation et cetera affects my profit margin. On a small scale like mine, how do I keep expanding my portfolio while minimizing the effects of taxes and comissions and membership fees? How do I find a blance point? Say for instance, I pay $14.99 a month for unlimited trades and I have $1000 invested. How much do my assets have to appreciate just to keep from flushing my money away in fees?
2007-03-02 13:52:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
Open an IRA account at Scottrade.com - you won't have to pay any taxes, as long as you leave the money there until retirement.
To develop your investing skills, you might want to look at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Hope this helps.
2007-03-04 01:40:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
With $1000, forget the unlimited trades. You have enough for maybe one trade.
My strong recommendation would be to put the $1000 into a decent mutual fund. Not too many however have $1000 minimum investments. But a few do.
If you really have your heart set on buying some stock, then open an account with Scottrade. They will be your best bet.
http://www.scottrade.com/online_trading_reasons/
2007-03-02 23:44:31 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Go back to your last question....start slow, pleeeeease.
I really don't think " unlimited trades" is a tool for a new investor...but, it may work for you, but it will probably just get you into the bad habit of panicing, cut and run doesn't win in the market too often.
2007-03-02 23:41:32 · answer #3 · answered by jebediabartlett 6 · 0⤊ 0⤋
Take a 1000 dollars and invest it in a home business that will guarentee great rewards and returns. Much better than the stock market that just took another plunge the other day!
http://www.marketamerica.com/basesloaded/
2007-03-02 21:57:34 · answer #4 · answered by Phillrw 1 · 0⤊ 2⤋
FFALX. Good fund...good performance...low fees...$50 min ongoing investment. Im a broker and my dad owns it.
2007-03-02 23:49:57 · answer #5 · answered by stuffforsale15001 2 · 0⤊ 0⤋
Try Euro America Index!!
It a good deal!
http://www.eaindex.com/CMGK2058
2007-03-03 04:35:09 · answer #6 · answered by Anonymous · 0⤊ 2⤋
I suggest Zecco. (It's FREE)
2007-03-03 00:45:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋