Off-Topic Buying Stocks

[Carol K]

I would recommend Making the Most of Your Money by Jane Bryant Quinn. The section on investing really takes the mystery out of the topic. It doesn't have to be complicated unless you want it to be.

[superfit41]

Originally Posted by LoveVA

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

My DH and I have had a Scottrade account for several years now. Very pleased with them. One of the advantages is that they often have local offices so you can go in and talk to an advisor in person. That is one of the main reasons we chose them.

[videofit]

Just caught a few minutes of Ric Edelman's show again. He said ETFs are cheaper than some mutual funds and Charles Schwab was going to stop recommending them. Don't know the details.

Meanwhile you can talk to an advisor for free at 1888-PLAN RIC. Someone will give you an overall opinion on your portfolio. Don't know what details you need to give them but for free it's worth a shot. Obviously you will have to pay if you need more detailed advice. But nurses get FREE financial plans! I've heard people do this on the radio show and Ric will tell you if he thinks your financial advisor is giving you good advice. Some actually do!

He also mentioned there is a government website where you can look up a financial advisor or company and see if they've been cited for wrongdoing. Don't know the name unfortunately.

Edelman Financial Services was named #1 Independent Financial Advisor by Barron's. More info on the website.

I seem to recall Suze Orman and Jim Kramer (TV guy) being criticized for their advice during the crash of '08.

[Betty Boop]

Check out Computershare at: https://www-us.computershare.com/inv...a=0&stype=dspp

You'll see a list of companies that sell their stock directly to the investor.

[bzar]

Originally Posted by Salamander

Hi Dena,

I have not heard of that company. I have a Roth IRA through Sharebuilder (which is now owned by Capital One.)

if you're a costco member, Sharebuilder offers a discount on fees. i've never looked into that benefit myself, so i can't say exactly what you get. but on the costco site, you can sign in and see.

if you're a member of a credit union, they also provide investment services.

the company that manages your employer's 401K plan probably offers separate brokerage services as well, with different offerings outside of the 401K offerings, including individual stocks. this is what i did. i can see everything on one screen to get an idea of where i stand.

i'm a cpa, and my experience with individual stocks was that it took 7 years for the price to get back to where it was after a downturn. therefore, i second other poster's suggestions about going the mutual fund route.

[SpiritYogi]

Thank you for the additional comments / suggestions. I did a lot of research over the weekend. I'm going to call my contact at Vanguard today to see what my options are (outside of my employer's 401(k)) and go from there. It has been kind of fun learning about this, thanks to all you wonderful ladies here.

[lincnkel]

Originally Posted by videofit

He also mentioned there is a government website where you can look up a financial advisor or company and see if they've been cited for wrongdoing. Don't know the name unfortunately.
.

Great advice so far! The website is offered by FINRA - all brokers that transact in securities (outside of managed money) must be licensed and registered with FINRA. http://brokercheck.finra.org/ If you find a broker you are looking to business with, outside of one of the large wirehouses, you can check out their record. You just need last name and zip.

[DejaDeb]

Originally Posted by videofit

... If I had the money I'd invest in residential REITs. You don't have to be the physical landlord and people always need a place to live.

Just FYI, Vanguard had an REIT Index Fund! And if you have "a lot" of money, you can invest in their "Admiral" class funds vs. their "Investor" class funds ... the expenses are lower, so you get to "keep" more of your money. (For example: Vanguard REIT Index Fund Investor Shares (minimum investment = $3K; expense ratio = 0.26%), Vanguard REIT Index Fund Admiral Shares (minimum investment = $10K; expense ratio - 0.12%, and Vanguard REIT ETFs (expense ratio = 0.12%) This is true for a lot of their funds (Investor shares vs. Admiral shares.)

[Carol K]

I used to have that REIT fund and it drove me nuts, because unlike for any other mutual fund, they didn't have to send the 1099 out until late February or March.

[DejaDeb]

Originally Posted by Carol K

I used to have that REIT fund and it drove me nuts, because unlike for any other mutual fund, they didn't have to send the 1099 out until late February or March.

Ahhh! It's one of the options available in my company's 401(k) plan, so I don't have to worry about that!