Do you want money to work for you? Do you want to start a retirement portfolio that will build a nest until you’re able to fly?
Starting an investment portfolio is a start to financial freedom. Don’t get bogged down by the commissions and fees of hedge funds and financial planners.
Burton Malkiel, who worked as director of Vanguard for 25 years, believes “the biggest myth about the stock market is that there are expert investors who can consistently beat the market. It just isn’t true.” Alpha is hard to come by on Wall Street. Data by the S&P Dow Jones Indexes shows only one in nine active managers have produced alpha for their customers. You don’t need a MBA, CPA or CFA to pick winners, so it’s your time to start.
Online brokers such as Fidelity, Schwab and TD Ameritrade have charged outrageous and inflamed prices for transaction costs for too long.
Silicon Valley can do it better Robinhood, and Loyal3 offer free commission with no minimum amount. This allows anyone above 18, with any amount of pocket change, to become an investor.
What’s the catch? There is none.
If you can forgo the outdated platforms that other brokers offer, then commission free is the only way to go. How do they make their money? Interest on money not invested.
The older firms are squirming in their seats trying to keep clients. Fidelity dropped their commission from $7.95 to $4.95, following TD Ameritrade dropped commission from $9.99 to $6.95. This has hurt their stocks tremendously: 10.5 percent on March 1st alone.
Like Sprint always says “it’s time to make the switch!”