_[jonnywg] TONIGHTS GUEST WILL ANSWER QUESTIONS ON STOCK BROKERAGE ,BANK AND FINANCIAL

[classroom] would like to keep it simple ~ general questions for those new to the idea of investing

[bcrt] Where should I go to get a better understanding of a Brokerage Acct. after this chat?

[classroom] bcrt hopefully i can help you with that here. if you still have questions please visit www.finra.org as they have a great amount of information for investors

[patriot1490] Is there a minumum amount needed to open a brokerage account?

[classroom] patriot1490 not usually, however, the investments you choose might have minimums

[Dimples] Will ETrade or other online investing programs be something we should use? Why or why not?

[classroom] Dimples that would entirely depend on your comfort level, whether you are looking to make investments yourself or if you are looking for the help and guidance of an advisor

[OmegAudio(USMC)] I am asking because I do not know, What is the difference between and index fund and a mutual fund?

[classroom] OmegAudio(USMC) an index fund is tied to an index like the S&P 500
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_ [RJB] Do you consider Charles Schwab as good place to start?

[classroom] RJB a good place to start is where you can find an advisor that you are comfortable with, if you don't know where to start to find an advisor i would suggest asking friends for references and interviewing them to see who you feel can best help you accomplish your goals

[anonymous] WHAT SHOULD THE RISK FACTOR BE FOR 50YO, 60YO. HIGH RISK VS LOW

[classroom] to evaluate risk that you are comfortable with, age is not the only factor. a well versed 50yr old might be more comfortable taking on risk than a new investor of the same age

[miz dixie] would it be wise to wire my money into my e trade acct until i decide what to do with it

[classroom] miz dixie that is purely a personal choice, banks and brokerages all having money market accounts

[H.D.] I had talked to an investment company the stee#cc3333 me to a offshore investment manager. He wanted a large amount to open up an account for me. I did not feel good about this. I did not do it

[classroom] H.D. please don't ever make an investment that you are not comfortable with. your advisor should listen to what your needs are and come up with a plan to help you meet those needs

[maple] what yields are available in bonds vs dividends

[classroom]maple yields vary greatly among different bonds based on risk, dividends also vary by stock and not all stocks pay dividends

[californiaguy] Would an escrow account make sense as a place "to park" our RV so to offset a possible tax event and to realize long-term gains, prior to going into equities or other asset classes?

[classroom] californiaguy for tax information you would need to seek the advise of a tax professional

[tbone62] what are the positive and neg of brokerage accts ?...any penalties for closing ? are there any fees for acct ? and what if money just sits and is not invested right away ? thanks

[classroom] tbone62 there are not usually penalties for closing, there could be fees for liquidating assets if they are invested. different accounts have different fees so you would need to ask what the fee is for each type of account you are opening. funds invested can be placed in an account while you decide how you want them invested

[dinar.diva] I've heard that the USD will likely devalue somewhat post-RV, I'd like to minimize my loss in dollar value and am thinking of keeping some of my post-RV funds in other currencies. 1) are there any banks that will hold my accounts in various foriegn currencies, 2) which might be safest bets to hold?

[classroom] dinar.diva i am not familiar with bank currency departments

[maple] What % of my portfolio should be in fortune 500 companies

[classroom] maple i cannot answer that question for you, that would vary depending on your risk tolerance

[jc2] .your thoughts on tax lien certificates?

[classroom] jc2 that is beyond investing 101, please discuss your plan for the future in detail with your advisor

[RevalGal] I would like to avoid the expenses of an annuity, but I would like the set income stream they offer. Can I set up an investment portfolio to mimic an annuity?

[classroom] RevalGal you wouldn't have access to the riders and options available to you in an annuity by making the investments yourself

[Dimples] With the economy the way it is a jump in inflation has to be around a corner, how do we keep our investment working to offset inflation?

[classroom] Dimples a diversified portfolio is meant to help avoid ups and downs, however there are no guarantees

[ekay] What kinds of fees are charged for a brokerage account, and what is a reasonable amount?

[classroom] ekay fees vary by firm, but there can be fees for different features such as check writing abilities, just as most IRA type accounts have a maintenance fee

[maple] Are city bonds a good investment?

[classroom] maple that is sort of a loaded question, would depend on the strength of the city

[classroom] just a general statement, please make sure you have a detailed conversation with the advisor you choose to help you. it is your money, make sure you understand what you are investing in, and don't be afraid to ask questions or say no if you are not comfortable