Comments on: “I should research before opening an investment account”

By: baselle

baselle — Fri, 12 May 2006 05:04:24 +0000

Another old saying:
90% of everything is showing up. Works for your money, too.

By: Chad Smith

Chad Smith — Thu, 11 May 2006 23:31:00 +0000

I love your commentary on barriers and how people can be lazy. Keep up the good work. Was wondering if you might have anything to add to my discussion on investing on your own vs working with an advisor. I am specifically referring to mutual funds and the best custodian out there. See my blog for more info:

http://www.twentysomethingfinance.blogspot.com

Thanks.

By: Mike

Mike — Wed, 10 May 2006 15:18:17 +0000

If you buy and hold, there is really no need to research all the brokerage firms. Get a discount broker like Scottrade or Sharebuilder and go

By: Eric Nakagawa

Eric Nakagawa — Wed, 10 May 2006 04:11:13 +0000

I completely agree with this… many of my family members are either frozen by fear of not choosing the best choice — even when their current choice sucks, or choosing to act on what someone else suggests — just because they trust the person.

I’m a firm believe in the … you don’t know until you go. Get up off your butt and start.

By: J.D. @ Get Rich Slowly

J.D. @ Get Rich Slowly — Tue, 09 May 2006 22:33:22 +0000

People often spend too much time fretting over the optimal decision — which investment to make, whether to reduce debt with the “debt snowball” or the “highest interest rate first”, etc. — when the most important thing is just to act. Pay down the debt! Start an IRA! Any positive movement is better than nothing.

By: alex

alex — Tue, 09 May 2006 21:39:19 +0000

Yes, barriers are insidious. For instance it is amazing how investing has no real grip on my time, until I have actual money on the line. Then I suddenly find the time and effort to do what it takes. Successfully saving is effectively half the battle. Somehow this adds new meaning to the saying “a penny saved is a penny earned.”

By: K

Tue, 09 May 2006 17:54:50 +0000

I find it a facinating quirk of human nature that the first concern of new investors is gettting the “best” return.

Okay, right now, they’re getting no return.

Heck, they have no money to get a return on.

So concentrate on baby steps.

I started with a money market fund.
Yeah I got little or no return but I was just learning about investing then.
By the time I gained the knowledge, I had a bit of money to play with!