Where and How Do You Actually Make Investments?
Yes, you say, this info is all well and good, but how do I actually make an investment?
Well, that depends. If you have a retirement plan at work (assuming you have a job...), then you'll create an allocation plan and make investments within your plan. The HR person at your workplace should have information about how open an account and get started.
If you don't have a plan, then you can open your own doggone account (either an IRA of some sort or a taxable brokerage account). You'll need to decide how much handholding you want or need.
Do-it-Yourself: Open an account at some place like Schwab, Fidelity, e*Trade, or some other online discount brokerage firm. This does not mean that you're signing up to become a day trader. It means you're going to do the work primarily on your own, using the resources you find at the firm you choose and from super helpful sites like this one and others. With this approach, you'll have lower transaction costs and cheaper funds. These cost savings can really add up over time.
Work with an Advisor: If you want an actual person to help you, then you'll have to spend time to find a fit with one of the buh-zillions of brokers, advisors, planners, and consultants out there. The best scenario is to find a person who you can establish a long term working relationship with, focused on your finances. They should take into account your total picture, not just your investments. They should be willing to take time for you when you need it. They should make sure you understand things. To find the right fit, meet several people in different parts of this field: one that works for a local branch of a big firm, one who works at a bank, one who is independent. Ask questions. Take your time. Then go with your gut. You can always change if you have to. You'll spend a bit more (maybe 1% of total assets is fair). But it could be worth it for you.
Well, that depends. If you have a retirement plan at work (assuming you have a job...), then you'll create an allocation plan and make investments within your plan. The HR person at your workplace should have information about how open an account and get started.
If you don't have a plan, then you can open your own doggone account (either an IRA of some sort or a taxable brokerage account). You'll need to decide how much handholding you want or need.
Do-it-Yourself: Open an account at some place like Schwab, Fidelity, e*Trade, or some other online discount brokerage firm. This does not mean that you're signing up to become a day trader. It means you're going to do the work primarily on your own, using the resources you find at the firm you choose and from super helpful sites like this one and others. With this approach, you'll have lower transaction costs and cheaper funds. These cost savings can really add up over time.
Work with an Advisor: If you want an actual person to help you, then you'll have to spend time to find a fit with one of the buh-zillions of brokers, advisors, planners, and consultants out there. The best scenario is to find a person who you can establish a long term working relationship with, focused on your finances. They should take into account your total picture, not just your investments. They should be willing to take time for you when you need it. They should make sure you understand things. To find the right fit, meet several people in different parts of this field: one that works for a local branch of a big firm, one who works at a bank, one who is independent. Ask questions. Take your time. Then go with your gut. You can always change if you have to. You'll spend a bit more (maybe 1% of total assets is fair). But it could be worth it for you.