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Joined: Feb 2009
Posts: 2,445 Likes: 5
Campfire Regular
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OP
Campfire Regular
Joined: Feb 2009
Posts: 2,445 Likes: 5 |
Is going through a brokerage firm like Morgan Stanley, Merrill Lynch, etc. the way to go? I’m talking about maybe 2-3k to start and 500 a month after that?
Other than an annuity fund through work, a pension, a few different life insurance policies and real estate, I don’t know chit about stock market type investing….. I’m looking for easy but not something with a bunch of hidden fees….. I don’t mind paying a guy up front for his knowledge but don’t want to get swindled. Thx.
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Joined: Dec 2002
Posts: 18,035 Likes: 18
Campfire Ranger
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Campfire Ranger
Joined: Dec 2002
Posts: 18,035 Likes: 18 |
Drop all the way down to Miscellaneous Topics and post your questions in the Stock Market & Investing sub-forum. You will get some good feedback there.
Last edited by gonehuntin; 03/09/24.
"To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical." -- Thomas Jefferson
We are all Rhodesians now.
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Joined: Dec 2019
Posts: 3,087 Likes: 7
Campfire Tracker
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Campfire Tracker
Joined: Dec 2019
Posts: 3,087 Likes: 7 |
It depends on when you need the money. IF this is a retirement fund AND retirement is 10 or more years away, then this: If work has a 401K, save it there to take advantage of any employer match (free money). If not, open an IRA at a low cost investment company (like Vanguard) and fund that from each paycheck. Direct deposit is best. Folks will debate Traditional vs Roth IRAs; neither is a bad choice.
Once you know where you’ll save, you must choose how to invest it. Initially, choose a mutual fund that holds mostly stock investments. A balanced fund geared towards your retirement timeline is an ok choice. Vanguard has several of these.
Investment advisors are worthwhile, but many are wolves in sheep’s clothing. Read enough in the upcoming months to know the difference. Avoid investments you do not understand. You should learn enough to protect yourself and your future. Good advice is worth paying for. Bad advice is worse than none. Nobody will care about your money/future as much as you will.
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Joined: Feb 2009
Posts: 2,445 Likes: 5
Campfire Regular
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OP
Campfire Regular
Joined: Feb 2009
Posts: 2,445 Likes: 5 |
Drop all the way down to Miscellaneous Topics and post your questions in the Stock Market & Investing sub-forum. You will get some good feedback there. Sunnuva beotch lol…. Didn’t even know it was there…. Been here at least 15 years lol. I moved it down there…. Thank you.
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