I heard about Sharebuilder anyone else I should look into?
2007-05-25 17:08:39 · 9 answers · asked by tanman947 1 in Business & Finance ➔ Investing
If you have only a small amount to invest monthly, I don't think you need a stockbroker. I think you need a mutual funds registered representative.
Stocks call for a larger outlay, typically from $1,000.00 up. With mutual funds, you can start an account with as little as $50.00 and invest as little as $50.00 at a time, the limits vary with different funds.
There are lots of funds available, but FWIWI use Pioneer Fund, The flagship fund is the second oldest mutual fund on the market, and they have some good medium risk funds, and some good high risk funds as well.
Doc
2007-05-25 17:15:03 · answer #1 · answered by Doc Hudson 7 · 0⤊ 0⤋
Great fortunes are BUILT with small investments each month.
The key is consistancy, each month no matter what and never dipping into it for toys, vacations, cars, etc.
I would suggest opening a Roth with a company like Fidelity, TR Ameritrade, Charles Swab, etc. and purchasing LARGE BLEND mutal funds (no load) or purchase ETF's(exchange traded funds). Large funds like SPY that track large indexes.
Stay away from individual stocks or ETF's that put all your eggs in one sector. Be diversified in the market and over time you will build a great portfolio. It takes TIME.
Don't get discourage when the market goes down. Don't get crazy when the market runs up. Stay consistant and take the LONG view.
Good luck and it's great to hear you want to invest. IMO, the market has always been the consistant place to have your money.
2007-05-25 17:39:39 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The small amounts you're saving may not buy much in the way of stocks. For example, Microsoft's stock closed at $30.48 on Friday, May 25, 2007. Buying 100 shares (what brokers call a "round lot") would cost you $3048 plus a commission. And that's considered a small trade in today's stock market. Buying fewer than 100 shares (what's called an "odd lot") is likely to have higher per share commissions, so it's costly.
It's probably best to build up the amount you have for trading by first putting the money in a money market fund. Money market funds pay about 4.9% per year these days. That's not a lot, but these funds pretty safe. When you have a significant amount of money for stock trading (like $10,000, $20,000 or more), then you can realistically begin to buy individual stocks.
Probably the best choice for you would be a discount brokerage account offered by a mutual fund family, like Vanguard (which tends to have low costs) or Fidelity (which also has pretty low costs). These firms have money market funds that you can use to build up your capital in the short term. When you have enough money for real stock trading, you can use funds from the money market fund to buy individual stocks. For more info about investment guidelines and building up cash savings for short term use, see the webpages listed below.
2007-05-25 18:10:36 · answer #3 · answered by Uncle Leo 5 · 0⤊ 1⤋
Actually, you might do best by investing directly with a company. More than 1,000 companies allow this. You can get more information from www.dripinvestor.com or by reading "How to Buy Stocks Without a Broker." You can also join an investment club, and for a few dollars a month, you can research and buy stocks as part of a group, and own them with others. Learn more through the NAIC: www.better-investing.org. Good luck!
2007-05-25 18:54:39 · answer #4 · answered by Katherine W 7 · 0⤊ 1⤋
FOLIOFN.com
http://www.foliofn.com
Navy Federal Credit Union recommended FOLIOFN and I've been a happy customer since Feb 2006:
-No minimum account balance required
-Window trade $3.95 ea or $19.99 mo for 200 window trades
-Auto-investment window trade $1.00 ea
-Auto-reinvestment of dividend is free
-Trade fractional shares, dollar-cost
-Analysis tools for performance, diversity, backtest
-Numerous ways to fund your account, includes ETF
Comparison of online brokerage:
https://www.foliofn.com/servlets/process...
Pricing plans:
https://www.foliofn.com/servlets/process...
They have great Customer Service too - you get real people on the phone when you have concerns.
FOLIOFN is perfect for the long-term, small investor. You won't be disappointed.
Best wishes,
pup
2007-05-26 05:54:05 · answer #5 · answered by . 6 · 0⤊ 0⤋
Does your bank sell mutual funds? ...use that method, stay away from individual stocks, Go for a "balanced fund""
The bank will explain it to you.
2007-05-25 18:57:49 · answer #6 · answered by bob shark 7 · 1⤊ 1⤋
Zecco.
2007-05-25 17:28:09 · answer #7 · answered by Anonymous · 0⤊ 1⤋
sounds like you need to go to http://goldenbullpicks.com
its exactly what your looking for!
2007-05-26 09:55:31 · answer #8 · answered by Anonymous · 0⤊ 0⤋
optionsxpress.com or interactive brokers
2007-05-25 21:59:31 · answer #9 · answered by Anonymous · 0⤊ 1⤋