Choosing and opening my first brokerage account was a huge hurdle for me. It was something I’ve been putting off for many reasons: 1) I didn’t think I had enough money to invest yet, so I kept adding to my savings account; 2) I had no idea what I would do to make the most of my invested money; and 3) how on earth was I supposed to know which broker to use? Which is to say, how could I be trusted to make this decision on my own?
Thankfully, the more I read AAII articles like “Comparing Discount Brokers and Apps Given Recent Industry Changes,” the more knowledgeable I felt to take the first step as you can see in the video accompanying this post.
Choosing a broker reminded me of when I had to choose which college I wanted to go to. It was a huge, daunting decision, but there’s always the peace of mind knowing that you can transfer if something doesn’t work out. When I was choosing my college, I had to make sure it was somewhere I could thrive, but also a place that I could contribute to. In the same way, I wanted to make sure my broker was a good fit for my money and what I want to do with it.
Fees were the biggest factor in my decision-making process, and I walk you through how I came to the conclusion I did, making sure my broker won’t be taking too much off the top!
If you’ve struggled with knowing where to invest your money, this video is for you! I hope it helps you determine the broker you want to use and eases your anxiety about the process.
