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written by reader help with stocks

By hosea, July 30, 2015

hi, i’m new and yet to invest in the stock marked. i want to start by making very small investment by using a online broker company.
any advise on which company to use and which stock to invest in or any advise at all to help me become successful with the stock?
please explain in simple terms. thank you

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Travis Johnson, Stock Gumshoe
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Hi Samuel, welcome aboard.

I usually suggest that people become familiar with and comfortable with the market before buying individual stocks — one way to do this is by easing in by buying a broad market index fund or ETF as you’re reading books and financial news sources to begin to gain familiarity with investing. I can’t presume what your individual situation might be, but I personally suggest that folks just starting out, if they’re new and small investors, build up at least $5,000 in index funds or broad market mutual funds before they consider dabbling in individual stocks. Not everyone agrees with that, and investing in stocks is certainly more interesting — but don’t buy individual stocks unless you are really interested in understanding them and following them, most people, most of the time, will do better with broad market exposure instead of individual stock exposure.

That time when you’re building up a little kitty of investable funds can be spent reading a few key books, like One Up on Wall Street by Peter Lynch or The Little Book that Beats the Market by Joel Greenblatt to start building your familiarity with stocks, understanding how they’re valued and traded, and thinking about what it means to buy a tiny slice of a publicly traded company. When you do start trading individual stocks, most of the discount brokers are just fine as far as I’m concerned — I use TD Ameritrade, Fidelity, Vanguard and Interactive Brokers personally, but from what I hear others like Etrade, Schwab, Tradeking, Scottrade and others are very similar and for most folks the service and costs will be extremely similar from one to the other. If you’re really just getting started in building a nest egg, pay attention to minimums for opening an account and to inactivity fees or maintenance fees.

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SoGiAm
7 years ago

Samuel, you are located at THE premier website to learn from other individual investors and prevent you from making less informed decisions where the camaraderie is second to none IMHO sgumdev.stockgumshoe.com Best2YouAlways-Ben

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