“It’s easy to figure out the right type of account—just start with what you’re saving for.”
Too often, investors want to invest, but they don’t know where to start. While most investment companies and brokerage firms make it as easy as possible to open an account and begin investing, for many would-be investors opening an account is confusing and often traumatic.
The link below describes a practical approach that helps would-be investors to begin investing at Vanguard—one of the largest and most successful companies in the investment world. Note: The link below provides information for Vanguard, but other investment companies and brokerage firms provide similar information on their websites. At the Vanguard site, there is basic information about mutual funds. Then specific information about fees and no-load funds is included in the section “Discover Vanguard’s Advantages.” Next, there is a section on choosing the right fund. Then, information about different types of investment accounts is provided. Finally, there is a 3-step process that can be used to open an account.
For more information, click here.
You may want to use the information in this blog post and the original article to
- Remind students of the advantages of beginning to invest sooner rather than later.
- Visit the Vanguard (or other investment or brokerage firm websites) for more information.
- Encourage students to open a mutual fund investment account when they have saved the money needed to begin an investment program.
- Why do you think people are reluctant to begin investing?
- Even though investment companies and brokerage firms make the process as easy as possible, people are often “afraid” to open an account and begin investing. How can you overcome this fear?