Investing on your own? Here are some DIY investing tips and tricks.
What to Consider
Let’s face it. After health, happiness and family, how to manage your nest egg is probably the most important decision you will have to make in your lifetime. Portfolio management, diversification and asset allocation are just some of the considerations. Overwhelmed yet? Luckily, there are two ways to go about investing your money: doing it yourself or seeking investment advice. Here are a few factors to consider when making this decision:
- Knowledge: Your most important asset – when it comes to investing your money – is knowledge. Investing is hard; fundamental and technical analysis, understanding company reports, keeping track of the news…there’s a ton to know! Investment advisors bring professional expertise, allowing you to take comfort in the fact that your money is in knowledgeable hands.
- Emotion: You know the old saying: “Buy low, sell high”? Well, it turns out when it’s your money on the line that’s a lot easier said than done. When investors can’t keep their emotions in check they panic; buying stocks during the hype and selling stocks at their lows. Investment advisors can take the emotional side of things out of the equation and focus solely on the facts.
- Time: They say, “Time is money”. But what they fail to point out is that making money takes a lot of time! Investing your money prudently takes a lot of effort and research. It can be a fulltime job! Investment advisors have the time to research and analyze the markets for you.
Professional investment advice can alleviate many of these stresses and concerns. So whether you’re a do-it-yourselfer or prefer professional help, this mission will show you how you can achieve your goals.
In this mission, we’ll look at some of the advantages and disadvantages of managing your own portfolio versus using a financial advisor.
What is a Stockbroker?
You know those people on the trading floor of the New York Stock Exchange (NYSE), yelling and throwing hand signs at each other? Well, most of those people are called stockbrokers. Before the surge of the World Wide Web, stockbrokers’ main purpose was that of a “matchmaker”. They would match a buyer and seller of the same security together.
Today, this is still part of a broker’s role, but the Internet has made the buying and selling of securities extremely easy. Stockbrokers usually act as financial advisors, providing clients with research and information on various investment strategies. They reduce the effects of rash decision-making by using their experience and expertise rather than emotions to perform their job.
Putting the stock in stockbroker?
Don’t let the name stockbroker fool you. They deal with all types of securities, both on public stock exchanges and over-the-counter.
Stockbrokers are paid a commission or fee for each trade they perform. These fees may also include percentages on profitable sales of stocks. Other brokers may charge a quarterly or annual fee instead.
Brokers do not necessarily have to be individuals. There are also brokerage firms that are entire institutions facilitating the trade of financial securities. Some notable firms are: Merrill Lynch, Goldman Sachs, and JP Morgan Chase.
Watch this video to learn more about the stock market and what a stockbroker’s role is in it.
So How Do I Open a Robinhood Account and Get up to $1,000 in FREE STOCK?
To open a Robinhood account, all you need is your name, address, and email. If you want to fund your account immediately, you will also need your bank account routing and account number.
As its current promotion, Robinhood is giving away a FREE STOCK (valued at $5 to $200) to anyone that opens a new account this month if you click on the promo image below. Then, once you open and fund YOUR account with at least $10, you will receive more free stock (again valued at $5 to $200) for referring your friends and family. The more people you refer, the more free stock you get. Click on this promo below to start your Robinhood account application and get your first FREE stock.....
Bonus Tip: Use this link to get a free stock (up to $200 value) when you open and fund your account with at least $10: sign up for Robinhood today, you'll get a free stock (up to $200 value!) FURTHERMORE, for each friend that you refer, you will receive ANOTHER free stock valued at up to $200. This is perfectly legit and you WILL get more free stock for every friend or family member you refer.
Why do they give away so much free stock? Because they spend their advertising dollars this way instead of buying TV, radio, print, or online ads! They WANT you to refer friends!