Is It Time to Open a Brokerage Account for Your Investments?

Is It Time to Open a Brokerage Account for Your Investments?

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[mdel]

I'm thinking of putting extra money into a brokerage with the plan to use it to pay off the remaining balance on my mortgage later on. Seems like a better idea than just throwing extra money on the principal every month.

[anniealexander]

I love it. Great advice. Too many people put down brokerage accounts because the market is down right now. But 401k is down also.

I chose to sell a little on the jumps. Friday, I was looking at how much those stocks have dropped. I wasn't even planning to sell. I just checked my account and saw those stocks were at unbelievable prices. It's opportunity. Now I can but those same stocks back a lot cheaper than I sold.

[WinnyDek]

I didn't become financially independent till I was in my mid 40s after having a major financial setback during the covid, Thank God i'm now on my feet . In addition to buying my second house, I'm also making money on a monthly basis through passive income, and I've also met some of my goals. I really hope this motivates someone to know that it doesn't matter if you don't have any of these things yet; no matter your age, you can start today. Investing can help you change your future!

[polymath]

Except the guy has a 457, which usually can be accessed without penalty upon separation from the employer, e.g., the age 50 early retirement example. A 457 can be that bridge without needing a taxable brokerage account.

[madguitarist]

I'm so close to having step 6. Saying for a wedding and house makes 6 difficult to achieve too. I'm close to 20%, but need to stack too much cash for life expenses 😔

[blackpowr]

In my opinion, his retirement accounts are well on their way to create his pension. A good chunk of his extra money which he doesn't need to be liquid now should just be saved up and put into a non qualified, variable annuity contract which will buffer against 15-25% losses in the market. That way the money is pretty safe as it grows over the term periods. That'll be the best place to park that money instead of a outside brokerage account to mitigate risk. I do see the point of you are more concerned with liquidity then put more into the brokerage account.

[carlosleshawn]

Just what I needed to hear. Thank you 💯

[kennethwers]

Brokerage accounts can be with drawn mostly tax free(already paid) Allowing early retirement with ACA insurance.

[herewego..]

Guys,
1) Is it normal for my fractional shares held by the broker as a custodian through a sub custodian or nominee when the broker acts on principal capacity? Any associated risks?
2) Fractional transactions entered into by the client with (my online broker) could result in a loss to the client and a gain to the broker . How would you interpret this term? Any associated risks? Thanks in advance..

[MinnieOnCam]

I love this, I have all my registered Canadian accounts and was thinking how I would add in taxable investments and it would give me alot of options. especially with wanting to be off disability benefits.

[GeneralSirDouglasMcA]

With a brokerage, if I’ve already paid taxes annually on all the gains, can I withdraw it all tax-free? If I consistently invest so that I now have $5 million, can I withdraw it all at once with no taxes?

I understand a Roth which is tax-free, and a Traditional is taxed based on how much you withdraw (comparable to winning the lottery and receiving in lump-sum payments vs. getting the winnings all at once). With a brokerage account, you’re taxed annually. Is withdrawing later tax-free?

[ryanredding]

I can't seem to find the answer to this question anywhere on the web -- is it advisable to have my Roth IRA account and my brokerage account for playing the stock market at the same place? For example, if I have BOTH of those accounts at Fidelity for instance, is that okay? Or is better to have (for example) my Roth at Fidelity and then my stock account through Vanguard?

[rockystaatz]

Actually it’s a great idea but do you have the time to do it right? After that you can set up a lot of potential for Fire or easier living over time

[alexandriakaitlynrauchle]

Should I house my deductible amounts and 3-6 month emergency fund in a brokerage account? My husband and I don't know where to put that money since we may need access to it at any time. I feel like there is surely a better place for it than a regular savings account at the bank!

[andrewevans]

What are your favorite ETFs for Brokerage account? Anyone have any good ideas?

[nickgoodwin]

The brokerage account is a savings account on steroids. Do it!