10 Best Brokerage Accounts To Consider When Investing

When you are ready to start investing your money, choosing the right brokerage account is the key to reaching your financial goals and building the right foundation.

What is a Brokerage Account?

A brokerage account is an investment account that will allow you to buy and sell various investments like stocks, bonds, mutual funds, index funds, or ETFs. It’s also an account that can hold cash, so you have money ready to go to work for you when you are ready to invest.

Types of brokerage accounts

- Individual brokerage account: This is the standard account that most people use, where you open a brokerage account in one name and are the only account owner attached to that account. - Joint brokerage account: If you open a joint brokerage account, this means you will be opening a shared account with two or more individuals.

What can you do with a brokerage account?

Utilizing a brokerage account is a great way to help you accumulate wealth, save for a large purchase in the future, and invest for retirement outside of your 401k or IRA.

When should you open a brokerage account?

You should open a brokerage account when you have savings goals five years or more away but might not be for retirement. This account can be a great companion to your emergency fund, which can elevate your overall financial health.

So Which Brokerage Account is Best?

Charles Schwab is one of the best online brokers out there. They offer a wide range of low-cost index funds and ETFs, and this year dropped their trade commission fee to better compete with some new fintech companies (like Robinhood).

Charles Schwab

So Which Brokerage Account is Best?

While they don’t have the absolute lowest fees or sexiest online platform, they have a long history of being a trusted broker for index investors. Plus, their costs are still pretty dang low.

Vanguard

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