There was a recent thread on the prefered online trading companies with regards to cheap fees, low opening balance requirements, etc.
I have searched and come up with nothing forthwith, so can anyone please assist me in which of the best are out there again? Much thanks!
Fees, etc will be determined by which fund you get into. Pick a reputable firm and ou will do okay. I like Fidelity, Vanguard is my second choice. You can go on their sites or call and they will help you to set up a plan. Be cautious with advisors that make their money off of commisions such as banks, small fly by night type operations. If you get into an indexed fund such as S&P funds you find they are no load, with small yearly fees. At least they should be. Such as that would be a good start for someone just getting into this as it is diversified and will beat most other funds.
Be skeptical of tax defferred annuities sold by insurance salemen and banks. My opinion on Bank based advisors is low based on what I hear from other people.
You don't say if this is for retirement or general investment purposes. Some of the rules change.
Know that if you are investing outside of a retirement vehicle that you will pay taxes on the income of that fund for gains realized to investments within the fund from previous years. I really don't like that. A newer fund, if you can get into one, will have less of a tax burden. Obviously, all income is tax defferred on most retirement accounts.
If you are young and can afford it, get a Roth IRA. Also sweet if you have a low tax burden. The capital gains on these are not taxed. They are the best deal out there. A standard IRA can also be obtained. Not sure what the limit is currently as I do not qualify for either.
Within the Roth or standard IRA you can invest in whatever fund, etc you like.
Within an investment firm they will also have ways that you can buy precious metals(they hold which eliminates transfer issues in the event you decide to sell), and of course bonds, money market funds, CDs.
I am not an investment expert and do not work in the field but have learned a little over the past couple of decades.
Your best choices will be determined by your age, income, and total investment.
No, this is just to invest a little into different stocks, play with the market a little. No retirement investing or real long-term investing or anything like that.