I'm a recent graduate (class of '20 WHOOP!) looking to start investing. I follow the stock market but don't really have a clue as to how I would start investing (i.e. buying stocks, selling, platforms to use). I was hoping for some guidance on how to start and what the best tips are for starting out. Ideally how much money would I need to start? What are the best stocks to purchase right now? What platforms are the best to trade stocks? Is it really as easy as buying and selling?

Use either Fidelity or Vanguard. If your company 401k is through either of those, choose the one where it is.

Buy one of their S&P 500 ETFs (IVV or VOO) until you have $100,000 in your account. Never sell. Then come back.

Buy VXX call options

Anything is better than nothing. Fidelity or Vanguard seem to be the best. You can likely go through the bank that has your checking account, assuming you have a big bank.

It has a reputation for being juvenile, but Robinhood is fine and has no transaction fees. If you use my referral link you get one free share (likely worth less than $5). https://join.robinhood.com/charleg648

What to buy: to get started most recommend you buy an ETF or mutual fund that follows the S&P500. Possible tickers to look at: VOO, SPY, VTI, VOOG

Now that pretty much every broker has 0 fees, I'd go with either TDA or Schwab over Robinhood. IMO easier platform to use and much more in regards to educational stuff. I'll throw in a disclaimer that I haven't used Robinhood in about two years so maybe they've improved.

DRE06 said:

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Use either Fidelity or Vanguard. If your company 401k is through either of those, choose the one where it is.

Buy one of their S&P 500 ETFs (IVV or VOO) until you have $100,000 in your account. Never sell. Then come back.

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I'd probably do a variant of this. However, initially you should focus on establishing an emergency fund and maxing out retirement accounts at least to the level of company matching. Then, start your wealth-building portfolio.

On your investment portfolio, start out with a regular amount you can commit to (whether it's $20 or $200 or $2000 a month, the concept is the same). Maybe instead of the above advice, perhaps 1/3 in an S&P index fund, another 1/3 in a Russell 2000 or similar fund to gain some mid and small cap exposure, and a third in a Global index fund (either including or excluding the US) for international exposure. Then wait until the current value balance is over $100,000 before considering individual stocks or other asset classes.

You don't really need an advisor until well after this point. Fidelity, Schwab, Vanguard, and several others are all solid brokers - shop around for any new account bonuses available.

Pay yourself before creating your household budget. Stick to it. You'll have significant wealth before you realize it.

$30,000 Millionaire said:

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Buy VXX call options

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Why options?

no

Brian Earl Spilner said:

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$30,000 Millionaire said:

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Buy VXX call options

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Why options?

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It was a joke.

DRE06 said:

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Use either Fidelity or Vanguard. If your company 401k is through either of those, choose the one where it is.

Buy one of their S&P 500 ETFs (IVV or VOO) until you have $100,000 in your account. Never sell. Then come back.

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to expand

If your company has a 401k plan then open a ROTH IRA with the same Brokerage.
Contribute company 401k to get the match program
Max ROTH IRA (VOO or FCNTX If you want a mutual fund)
Max 401k
Do nothing for 10 years. Don't try and play the market, nothing. Save excess cash in a savings account.

In 10 years open a taxable brokerage.

My thoughts:

1. Withhold from retirement to max your company's match
2. Pay off high interest items, such as credit cards.
3. Max out Roth IRA
4. Max out HRA
5. Max out 401k if still allowable
6. With extra leftover you can save up to get $5,000 in a Fidelity, Vanguard, or TDA account.
7. While doing these things above read "Technical Analysis of Stock Trends" by Edwards & Magee. Start that now.
8. Begin paper trading after you have read that book. It's free and it will help you gain experience as well as practice keeping a trading journal.
9. Read through the Texags trading thread.
10. Read "Mastering the Trade" by Carter.

When you start trading stick to that $5,000 account for a year. If you get above that, pay yourself quarterly. Build up additional funds in a separate account invested in index fund(s).
After that year you probably have taken the training wheels off and know a lot more than you will have imagined if you make notes and pay attention.

After you have mastered it, please come back here and teach me how to trade. Somebody needs to.

I know your specific question was about investing in the stock market, which is a great way to build wealth and there is some great advice on this thread.

In addition to the stock market, consider other long term investment avenues. Real Estate is a great way to generate monthly passive income and build tremendous amounts of wealth.

Pretty darn simple.

Log onto Schwab.com and open an account.
Fund your account with $1000.
Buy AAPL and NVDA.
Continue to fund your account regularly.
Buy AAPL and NVDA.
Read as much as you can on the Schwab website. You'll be amazed how much you'll learn.
Buy AAPL and NVDA.
And when you get old (like me), begin to put your funds into interest bearing instruments.

It's worked for me.

Right on

$30,000 Millionaire said:

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Brian Earl Spilner said:

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$30,000 Millionaire said:

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Buy VXX call options

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Why options?

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It was a joke.

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Guess I'm not experienced enough to get this joke.