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Speaker 1: So, how to.
Speaker 3: Start investing in stocks? And the three of us get
Speaker 3: this question all the time, so we wanted to lead
Speaker 3: with that, and we want to break it down as
Speaker 3: simply as we can. And so first, you need a
Speaker 3: brokerage account. What is a brokerage account?
Speaker 1: Okay?
Speaker 3: A brokerage account, simply guys allows you to buy stocks, sales, stocks,
Speaker 3: invest okay. And so some of the more notable names
Speaker 3: you might know of or be familiar with, or you
Speaker 3: may not be Vanguard Fidelity. Those are two ones that
Speaker 3: has just been around for the test of time. Now
Speaker 3: and if you are thinking long term, these two entities
Speaker 3: are ones you want to consider. Fidelity Vanguard you want
Speaker 3: to think about once I do take this step to invest.
Speaker 3: Let me open up a Fidelity account, let me open
Speaker 3: up a Vanguard account. You want to start there with
Speaker 3: the premise in mind that you are thinking long term.
Speaker 3: Then you have everything from more newer apps, more user
Speaker 3: friendly like robin Hood, we Ball, interactive brokers, Tasty Trades,
Speaker 3: to name a few. So listen, guys, it starts with
Speaker 3: before you can invest, you have to have a brokerage
Speaker 3: account to even deploy your money too.
Speaker 1: Okay.
Speaker 3: And this is lateral from your job. This is separate
Speaker 3: from whatever you are getting at your place of employment.
Speaker 3: This is this is on you. The book came out,
Speaker 3: We're going to make sure this book become a number
Speaker 3: one bestseller. You deserve. This is about you. This is
Speaker 3: about you, guys. Okay, And so you need to make
Speaker 3: sure you have your own brokerage account. You're doing your
Speaker 3: your own investing. You're taking your you taking your own
Speaker 3: finances and affairs in your hand. Okay, next up.
Speaker 1: I'll take it.
Speaker 4: I'll take it even step further too, because I want
Speaker 4: to kind of expand on that a little bit because
Speaker 4: for some people like to even why investing is important
Speaker 4: on what a stock is, right, Like we talk about
Speaker 4: stocks as far as that's ownership and private companies and
Speaker 4: in this public companies, right, So the public companies, anybody
Speaker 4: can own it like Tesla, like Microsoft.
Speaker 1: A private company is like earn your leisure where only
Speaker 1: we own it. Right.
Speaker 4: So it's important to invest in these public companies because
Speaker 4: as their value goes up, your investment going to go
Speaker 4: up over the course of time as well. Right, So
Speaker 4: the only way we took about inflation, the only way
Speaker 4: to beat inflation is to actually invest, right, because that's
Speaker 4: how your money is actually working for you over the
Speaker 4: course of time. But another question that I get about
Speaker 4: the brokerage is like even like how to set it up,
Speaker 4: and it's it's really not too complicated.
Speaker 1: Guys, like you go to the app store and you.
Speaker 4: Download Charles Schwab is another one, or you download Fidelity
Speaker 4: and all of these these these apps and platforms have
Speaker 4: similar type of things where you just got to fill
Speaker 4: in your information. So they have to it's called like
Speaker 4: know your customer, right, so they're actually you're like your
Speaker 4: social the actually your number, your email. You have to
Speaker 4: provide this information. Guys like you can't try to, I ain't.
Speaker 4: You gotta provide You gotta provide information. Yeah, and then
Speaker 4: from there you link your bank account to it. This
Speaker 4: is important for people to fully understand as well, because
Speaker 4: they're like, well, how do I get money into the account?
Speaker 1: Right? I gotta fund it.
Speaker 4: You link your bank account to it, and then you
Speaker 4: fund it, and then that that funding goes both ways.
Speaker 4: So you put money in from your bank account, or
Speaker 4: put two thousand dollars for my bank account into Fidelity,
Speaker 4: and then when it's time to move for money from
Speaker 4: Fidelity to your bank.
Speaker 1: Account, vice versa, vice versa.
Speaker 4: But where it's hell that this is important but our
Speaker 4: retirement can.
Speaker 2: I give them a hack from what you just said.
Speaker 2: This is important too because that transaction time. It can
Speaker 2: if you're a new customer, that might take five to
Speaker 2: seven days. And so for us having money that we
Speaker 2: sent and we don't know where it's going and it's
Speaker 2: taking five to seven days. Is a new account opening
Speaker 2: you could fill a little ankst especially, but what you
Speaker 2: can do right and this is and this is a
Speaker 2: good tip.
Speaker 1: I use e trade and so when e.
Speaker 2: Trade, I found out the wire instructions, right, so when
Speaker 2: I get the all your instructions that come from e trade,
Speaker 2: now when I send the money. Right, let's say I'm
Speaker 2: sending five thousand dollars to my E trade account that's
Speaker 2: going to get there within thirty minutes rather than waiting
Speaker 2: five to seven days. And so yes, you can do
Speaker 2: the AH transfers with take three to five or maybe
Speaker 2: five to seven if it's your new account, or you
Speaker 2: can get your broke which is wire information, and have
Speaker 2: that money expedited because five to seven days in the
Speaker 2: market can change a lot. Right, like we saw over
Speaker 2: the past week, right on Monday's south By Friday, you
Speaker 2: could have lost a lot or you could have gained
Speaker 2: a lot. So you want to make sure that your
Speaker 2: money gets there in expedited fashion. Why in transfers is
Speaker 2: another way that you can you can hack that.
Speaker 1: Then the last day I say before we move on, is
Speaker 1: that I used to get this a lot.
Speaker 4: When people are talking about their four one ks, they'll
Speaker 4: have a four one K, the money's coming out of
Speaker 4: it that they're checking it. Their money's coming out of
Speaker 4: their paycheck, and they automatically assume that it's being invested.
Speaker 4: I asked, like, what are you investing in? They're like,
Speaker 4: I don't know, did not see their statements, and they're
Speaker 4: not actually invested in anything. When your money goes into
Speaker 4: a broken account, it goes into what's called.
Speaker 1: The money market.
Speaker 4: That's like a six's account pretty much for a brokerage account,
Speaker 4: like it's sitting on the sideline. You have to direct
Speaker 4: where the money's going. So the next thing we'll talk
Speaker 4: about like actual investments. But don't think that. Okay, I
Speaker 4: opened up a Fidelity A link it to my Chase
Speaker 4: bank account. I put two thousand dollars from Chase into Fidelity,
Speaker 4: and now I'm invested into the stock market. That's not
Speaker 4: you're not int But like I said, that how it works.
Speaker 4: That actually happened. Like I said, I see, I see that.
Speaker 4: What I saw that with retirement when I was a
Speaker 4: financial bid, I used to see that with retirements people
Speaker 4: have money they used to have like twenty fifty thousand
Speaker 4: dollars into their retirement.
Speaker 1: Account because they didn't. They didn't.
Speaker 4: They would never fully educated that you had to pick something,
Speaker 4: and they just the default for their retirement plans was
Speaker 4: a money market account until they decided what they wanted
Speaker 4: to do with the money. They never decided what they
Speaker 4: wanted to do with the money, and the money was
Speaker 4: not growing. It's not a money market is not invested right,
Speaker 4: that's like a like zero, it's sitting on it's sitting
Speaker 4: on the sideline side. That's just important. Just because you
Speaker 4: open it, you put it in. Now from there, you
Speaker 4: have to actually put into it.
Speaker 1: That's a fact, Chris.
Speaker 2: I'm gonna go back up to this slide where we're
Speaker 2: looking at the brokerages. Yeah, is there one that you
Speaker 2: prefer all the other or is this case by case?
Speaker 2: Like I know, each trade is not on there. Everybody
Speaker 2: euyou knows. I love E trade, but I'm using trade
Speaker 2: so not because for informational purposes. It's easier for me.
Speaker 2: I love the way that we can get information. Is
Speaker 2: there is there one that is preferred the.
Speaker 3: Other Vanguard for long term, I prefer for strictly long
Speaker 3: term and or Fidelity. You can't go wrong if that's
Speaker 3: the mindset. I'm buying holding this for at least ten years.
Speaker 3: Vanguard and Fidelity are phenomenal. E Trade robinhood in one finance.
Speaker 3: Some of those other ones are good too, because they
Speaker 3: provide even more information and news and other things that
Speaker 3: it is helpful to the user. So there's no order.
Speaker 3: But except for the long term piece, Fidelity and Vanguard
Speaker 3: are the ones you not trying to trade in. Those
Speaker 3: will Vanguard at least, you're not using that to be
Speaker 3: a trader. You're trying to your purpose intently trying to invest.
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