Related Posts
Things to do in key west ?
Anyone from Leidos? Anyone? ...... *crickets*
Additional Posts in Personal Investment Chatter
Mention your top 3 stocks
thoughts on buying airline stock? delta?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I like fidelity but there are plenty of good options for where to open it. On a side note, be careful of independence restrictions when he is buying stocks.
Fidelity is great
Keep it simple! I’d vote fidelity as well but really any option is fine. There’s no fees to open an account.
Once you open a brokerage account, then just a question of what to invest in. I’d vote for an ETF or Mutual Fund where you park the money and leave it but he can do individual stocks if looking to play around a bit more.
Visual Storyteller
"Husband wants to play around with extra income"... "Overwhelmed with options."
That feels like foreshadowing...
I dont get it 🙈
Pretty much all the major reputable brokerages have eliminated trading fees to compete with Robinhood. I use Vanguard to buy VTI and VXUS and Etrade for everything else
sorry TOS
Depends on what he wants to do - if it's just buy and hold M1 is great
Conversation Starter
Thanks for the details, good to know!
Just be willing to accept any outcome of this money.
Thats the point. We contribute to our 401ks, but he's been wanting to buy stocks also, so I told him he could if he's bringing in extra cash. Usually he avoids OT at his job, so I figure its a win-win. He can do what he wants and we potentially make some extra money with limited risk 🤷♀️
Fidelity
Lots of factors here. I would recommend educating yourselves on investing before jumping in. I recommend the Simple Path to Wealth by JL Colins as I think it is easy enough for most to understand. JL recommends a Roth IRA with Vanguard, invested in VTSAX or VTI.
You can withdraw the contributions to a Roth IRA at any time with no penalties. You would have tax and potentially penalties on earnings if withdrawn early
Ignore everyone here not suggesting TD Ameritrade and the ‘Think or Swim’ platform, they don’t know what they are talking about. No trading fees and it’s a respected broker with the easiest to understand UI besides Robinhood (which is so easy because it was literally designed by children for children). Happy trading!
But I have to file a schedule b with fidelity or any other brokerage. Having a 401k at fidelity does not prevent me from doing any of that with a fidelity brokerage.
Make sure you chech which brokerages you're allowed to have open by EY and independence rules
I went to industry, so I have options now 😎
I opened a joint rights of survivorship account with Fidelity. I really like the ease of use and clarity of reporting/tax tracking.