Money Rehab with Nicole Lapin Simple Step-by-Step Guide for Making Your First Investment
Jan 3, 2025
Learn the essential steps to make your first investment and set up a brokerage account. Discover the different types of brokerage accounts and how to fund them. Gain insights on smart investment choices to maximize your returns over time. Explore practical tips for new investors and understand the value of self-investment. Resources like the Public app are highlighted as useful tools to enhance your investing experience.
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Opening a Brokerage Account
- To invest, open a brokerage account, acting as a middleman between you and the stock market.
- Choose a brokerage offering fractional shares, robo-advisors, and low minimum deposits.
Fractional Investing
- Look for brokerages that offer fractional investing, allowing you to buy portions of expensive stocks.
- Consider fractional investing to diversify your portfolio with smaller amounts.
Robo-Advisors
- Consider robo-advisors, AI-backed programs that make investment decisions for you based on your goals and risk tolerance.
- Robo-advisors are generally cheaper than human advisors.