Off-Topic Buying Stocks

SpiritYogi · 04-27-16, 09:19 AM

I am hoping I can get some advise from the financially smart and savvy women here about buying stocks.

I currently have a 401(k) account with my employer but want to buy stocks that aren't offered in our plan. I'd love to buy the stocks direct from the companies I'm interested in but, unfortunately, I have to go through a broker. I don't want to pay a lot of fees or high commission since I don't have a lot to invest to begin with and won't be doing a lot of trading, just buying and holding. I've done some research and OptionsHouse seems to be a highly ranked brokerage. Has anyone here used them, or any other brokerage that is trustworthy and won't siphon a lot of my hard earned money in fees?

Salamander · 04-27-16, 04:41 PM

Hi Dena,

I have not heard of that company. I have a Roth IRA through Sharebuilder (which is now owned by Capital One.) I've been investing that way for about 10 years.(I also have a 401k). You can also open a regular investment account. I like it because I can invest in stocks, EFTs etc. even with my small monthly budget. Amazing how much you can accumulate over time! I believe I pay $12/month for the IRA plan and invest in up to 6 companies per month. If you want to do an outright 'live' buy/sell of a particular stock, it's $6.95 no matter how many shares.

Don't know if that helps at all.... good luck!

LoveVA · 04-27-16, 06:14 PM

Take a look at Scottrade.

https://www.scottrade.com/

$7 a trade

No account maintenance fees

They provide very good service.

Otherwise, take a look at E Trade or TD Ameritrade

Carol K · 04-27-16, 06:17 PM

I would go with a Schwab or Fidelity brokerage account if I wanted to buy stocks. But I stick to no-load mutual funds from Vanguard. It's the best decision I ever made.

videofit · 04-27-16, 07:30 PM

I listen to two radio financial shows. One with Ric Edelman and the other with Ken Moraif. Both these guys have been in business for decades and seem to be well respected by their peers. See if their radio show is in your area and you can call in to ask for advice. They are pretty conservative and won't give you the hot stock picks. They want you to grow your money with little risk.

They also give free seminars all over the country.

I've been listening for about a year and will tell you that they have told their members to get out of the stock market for now because it's so unstable. I think Moraif recently said conditions were shifting but don't know details.

Carol K · 04-27-16, 07:38 PM

I've been subscribing to the No-Load Fund Investor newsletter for decades.

amoodygirl · 04-28-16, 06:03 AM

Quote:

Originally Posted by videofit

I listen to two radio financial shows. One with Ric Edelman and the other with Ken Moraif. Both these guys have been in business for decades and seem to be well respected by their peers. See if their radio show is in your area and you can call in to ask for advice. They are pretty conservative and won't give you the hot stock picks. They want you to grow your money with little risk.

They also give free seminars all over the country.

I've been listening for about a year and will tell you that they have told their members to get out of the stock market for now because it's so unstable. I think Moraif recently said conditions were shifting but don't know details.

We used to be with Ric Edelman. With 100% certainty, it is absolutely NOT TRUE that he would advise to get OUT of the market. Edelman's whole thing is diversification. With retirement savings, it is the long run that is important. Example - during the 2008 downturn, we lost a little more than 1/3 of our portfolio. We stayed in the market, despite what was happening. We gained back what we lost. Now, our portfolio is nearly doubled. His fees are high but read his books and listen to his show and podcasts. His services include different levels of investing, some in ETFs, which is what we invest in through Vanguard.

We stayed with Edelman a year and my husband really used their services as far as getting information and learning, learning, learning. We now use Vanguard without an advisor. They have really low fees and probably the best out there.

I don't know anything about Ken Moraif.

If you have any questions, feel free to ask.

Diane

amoodygirl · 04-28-16, 07:05 AM

Quote:

Originally Posted by Dena

I am hoping I can get some advise from the financially smart and savvy women here about buying stocks.

I currently have a 401(k) account with my employer but want to buy stocks that aren't offered in our plan. I'd love to buy the stocks direct from the companies I'm interested in but, unfortunately, I have to go through a broker. I don't want to pay a lot of fees or high commission since I don't have a lot to invest to begin with and won't be doing a lot of trading, just buying and holding. I've done some research and OptionsHouse seems to be a highly ranked brokerage. Has anyone here used them, or any other brokerage that is trustworthy and won't siphon a lot of my hard earned money in fees?

You are far better off buying ETFs and mutual funds through a company like Vanguard. The way to make your money grow is through diversification. For example - when stocks do poorly, in a diversified portfolio, other investments can counterbalance what the stocks are doing. Same thing for bonds, etc. Diversification is key. Buying stocks is far more risky than having a diversified portfolio. ETFs and mutual funds have built in diversification.

My husband just chimed in and said buying stocks is far more risky. He advises against it and so would Edelman. BTW, the key to finding a good investment advisor is that they are a Fiduciary. They are mandated to act in your best interests.

401ks are very narrow in their choices. You could open up an IRA with Vanguard or any other company of your choosing and start there. Also, depending on your age and your company's rules regarding your 401k, you can roll over your 401k into an IRA at another company, which would open up your choices.. When my husband hit 59 1/2, that's what he did.

Because of our diversified investing, he is retiring in July at the age of 60. It really works but you need to educate yourself.

Diane

amoodygirl · 04-28-16, 07:06 AM

Quote:

Originally Posted by Carol K

I would go with a Schwab or Fidelity brokerage account if I wanted to buy stocks. But I stick to no-load mutual funds from Vanguard. It's the best decision I ever made.

There you go! That's the way to go! Low expense ratio!

Diane

SpiritYogi · 04-28-16, 08:27 AM

Wow, what a wealth of information! Thank you all for your suggestions and personal experience. My 401(k) account is with Vanguard and I rolled over my Roth IRA into Vanguard earlier this year as well. I didn't think to call and ask if I could purchase stocks through them. I'll have to check out all the brokerages mentioned here and compare fees to make sure I get the most for my money. I think I need to educate myself a little more too since I have no idea what no-load fund is.

I'll also see if I have access to the financial radio shows mentioned.

I knew I could count on the smart women here to educate me and point me in the right direction!

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04-27-16, 09:19 AM
SpiritYogi Join Date: May 2002 Location: Spiritual Bliss	Buying Stocks I am hoping I can get some advise from the financially smart and savvy women here about buying stocks. I currently have a 401(k) account with my employer but want to buy stocks that aren't offered in our plan. I'd love to buy the stocks direct from the companies I'm interested in but, unfortunately, I have to go through a broker. I don't want to pay a lot of fees or high commission since I don't have a lot to invest to begin with and won't be doing a lot of trading, just buying and holding. I've done some research and OptionsHouse seems to be a highly ranked brokerage. Has anyone here used them, or any other brokerage that is trustworthy and won't siphon a lot of my hard earned money in fees?

04-27-16, 04:41 PM
Salamander Join Date: Dec 2001 Location: Washington	Hi Dena, I have not heard of that company. I have a Roth IRA through Sharebuilder (which is now owned by Capital One.) I've been investing that way for about 10 years.(I also have a 401k). You can also open a regular investment account. I like it because I can invest in stocks, EFTs etc. even with my small monthly budget. Amazing how much you can accumulate over time! I believe I pay $12/month for the IRA plan and invest in up to 6 companies per month. If you want to do an outright 'live' buy/sell of a particular stock, it's $6.95 no matter how many shares. Don't know if that helps at all.... good luck!

04-27-16, 06:14 PM
LoveVA Join Date: Jan 2013	Take a look at Scottrade. https://www.scottrade.com/ $7 a trade No account maintenance fees They provide very good service. Otherwise, take a look at E Trade or TD Ameritrade

04-27-16, 06:17 PM
Carol K Join Date: Nov 2001 Location: Chicago, IL	I would go with a Schwab or Fidelity brokerage account if I wanted to buy stocks. But I stick to no-load mutual funds from Vanguard. It's the best decision I ever made. __________________ Carol

04-27-16, 07:30 PM
videofit Join Date: Dec 2002	I listen to two radio financial shows. One with Ric Edelman and the other with Ken Moraif. Both these guys have been in business for decades and seem to be well respected by their peers. See if their radio show is in your area and you can call in to ask for advice. They are pretty conservative and won't give you the hot stock picks. They want you to grow your money with little risk. They also give free seminars all over the country. I've been listening for about a year and will tell you that they have told their members to get out of the stock market for now because it's so unstable. I think Moraif recently said conditions were shifting but don't know details. __________________ “It is no measure of health to be well adjusted to a profoundly sick society.” Krishnamurti

04-27-16, 07:38 PM
Carol K Join Date: Nov 2001 Location: Chicago, IL	I've been subscribing to the No-Load Fund Investor newsletter for decades. __________________ Carol

04-28-16, 08:27 AM
SpiritYogi Join Date: May 2002 Location: Spiritual Bliss	Wow, what a wealth of information! Thank you all for your suggestions and personal experience. My 401(k) account is with Vanguard and I rolled over my Roth IRA into Vanguard earlier this year as well. I didn't think to call and ask if I could purchase stocks through them. I'll have to check out all the brokerages mentioned here and compare fees to make sure I get the most for my money. I think I need to educate myself a little more too since I have no idea what no-load fund is. I'll also see if I have access to the financial radio shows mentioned. I knew I could count on the smart women here to educate me and point me in the right direction!