Getting Started In The Stock Market

One of the first things to understand is what is investing and how do you even open an account to start doing it?

Well, the truth is that there are many different ways to start investing in the stock market. Some people do this at their work through a 401K. Some people may pay someone else to do it for them and some people invest in the stock market by themselves. 

Here we are going to talk about how we would start to invest in the stock market by ourselves. 

There are a wide range of companies that offer the ability to invest in the stock market. Here are a few…

• Fidelity Investments
• Webull
• TD Ameritrade
• Robinhood

These are some of the main ones that you can start using today. 

The way that these services work is they will allow you to create an account and open an IRA. 

An IRA is a type of account that allows you to do unique things based on the type. For Example, a Roth IRA is a unique type of IRA that allows you to put money into an account on a Tax Free basis. Roth IRA’s differ from Traditional IRA’s because when your money grows in a Roth IRA you will not have to pay taxes on the capital gains as long as you dont pull from the account until age 59 and a half. Traditional IRA’s, however, require you to pay taxes on the capital gains as you make money in the stock market. 

It is super important to understand how each type of account works so that you know what type of strategy you want to take to your investing. 

If you are going to invest in the Roth IRA you may be choosing that type of account because you plan to be investing over the long run and not doing day trades. 

We will dive into more of this in a minute.