Anonymous
Anonymous asked in Business & FinanceInvesting · 9 years ago

Looking at investments, CDs, IRAs, Stocks such as ING and Etrade.?

I am new at this and have been interested in buying into stocks, or somehow investing my money. I just need someone to walk me through the best decision for me.

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  • Anonymous
    9 years ago
    Favorite Answer

    CDs are not investments really. More or less savings vehicles and not much of that these days. There are two types of IRA accounts--traditional and Roth. You can deposit up to $5000 a year in each but you can not withdraw the money without penalty until you are 59 1/2. With a traditional you do not pay taxes on the money you put into the account buy you do pay taxes on everything you take out of the account. With a Roth you pay taxes on what you put into the account but under current law you do not pay taxes on anything you take out of the account. Congress could change that. Within the IRA account you can buy just about any type of security you might like--CDs, mutual funds, stocks, bonds. Etrade is set up especially for traders. Investors can invest using an Etrade account also but it is somewhat more expensive that some of the others. ING is somewhat expensive commission wise. Scottrade is very reasonably priced and you can begin with a $500 deposit. Others are Fidelity and TD Ameritrade. You can also invest with a mutual fund company. Fidelity is a mutual fund company but they also handle stock brokerage for traders and investors. Most of the on line brokerage firms have a variety of mutual funds that they will sell without charging a commission. Many also will sell certain index funds with no commission.

    I can not really tell you what the best decision is for you. It might depend on the amount of money you wish to start with.

  • Anonymous
    6 years ago

    This Site Might Help You.

    RE:

    Looking at investments, CDs, IRAs, Stocks such as ING and Etrade.?

    I am new at this and have been interested in buying into stocks, or somehow investing my money. I just need someone to walk me through the best decision for me.

    Source(s): investments cds iras stocks ing etrade: https://tr.im/KrVFH
  • 9 years ago

    a great way to begin is to do a roth ira. you can do these by yourself, and most mutual fund companies only need $250 to open an account.

    any big fund company (fidelity, vanguard, etc.) offers no-load ira's. you can choose from hundreds of funds, but it's probably best to stay basic and put %100 into one big u.s. stock fund. as you research the fund company (pick one and stay with them) you'll see what each fund has for holdings.

    but whatever you do it's more important to pull the trigger and get "into the game" than to spend an eternity coming up with the perfect plan.

    once you get going an automatic monthly contribution (dollar cost averaging) is the best plan for added contributions.

    you can expand into other types of investments (cd's, bonds, individual stocks etc.) from there pretty easily.

    start slow, stay basic, put some "skin in the game", and start the learning curve.

    Source(s): regular investor since 1993.
  • 9 years ago

    Not sure if ING and Etrade sell cd's.

    I know the bigger boys such as Schwab and Fidelity and perhaps TD ameritrade do.

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