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originally posted by: smkymcnugget420
a reply to: Wardaddy454
tried asking this the other day and everyone just said buy gold stupid (which i have already)...not a very helpful bunch here.
so i did my own research here, Fidelity has a good platform for casual trading, which is what i wanted to do. you do need to avoid buying and selling stocks in the same day. that's called "Day trading" and has different rules/taxes and the SEC will come after your butt if they get wind of it.
don't use the robinhood app, its down again today.
originally posted by: CharlesT
a reply to: Wardaddy454
Don't speculate. Buy solid companies that pay dividends and stay with them long term.
One guest on Varney & Company this morning recommended Amazon because of this Covid situation.
originally posted by: Atsbhct
a reply to: Wardaddy454
Try reading the Mr.Money Mustache blog. All of his financial principals might not be for you, but he has great investing posts.
originally posted by: TodoMedio
a reply to: Wardaddy454
To answer your question...There are no ramifications to using seperate companies.
Also, I highly recommend Fidelity. I was where you are two years ago, and I found Fidelity the easiest to use for rookies. Still using it now. Look into their Zero fee funds. (No I am not a Fidelity employee)
Index stocks are the way to go, you spread your risk and it allows you to get a little piece of all the big boys for a fraction of the cost.
Final thought - Don't waste your money on those "MAKE 232% PROFITS OVERNIGHT!!" schemes. They don't pay off, trust me.