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How to Buy Stocks (For Beginners) · Earn Your Leisure

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  Speaker 1: So how to start investing in stocks? And the three
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  Speaker 1: of us get this question all the time, so we
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  Speaker 1: wanted to lead with that and we want to break
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  Speaker 1: it down as simply as we can. And so first
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  Speaker 1: you need a brokerage account. What is a brokerage account? Okay?
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  Speaker 1: A brokerage account, simply, guys, allows you to buy stocks, sales, stocks,
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  Speaker 1: invest okay, And so some of the more notable names
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  Speaker 1: you might know over me, be familiar with, or you
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  Speaker 1: may not be. Vanguard Fidelity. Those are two ones that
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  Speaker 1: has just been around for the test of time now
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  Speaker 1: and if you are thinking long term, these two entities
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  Speaker 1: are ones you want to consider. Fidelity Vanguard you want
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  Speaker 1: to think about once I do take this step to invest,
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  Speaker 1: Let me open up a Fidelity account, Let me open
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  Speaker 1: up a Vanguard account. You want to start there with
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  Speaker 1: the premise in mind that you are thinking long term.
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  Speaker 1: Then you have everything from more more newer apps, more
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  Speaker 1: user friendly ones like robin Hood, we Ball, interactive brokers,
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  Speaker 1: Tasty Trades, to name a few. So listen, guys, it
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  Speaker 1: starts with before you can invest, you have to have
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  Speaker 1: a brokerage account to even deploy your money too. Okay,
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  Speaker 1: And this is lateral from your job. This is separate
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  Speaker 1: from whatever you are getting at your place of employment.
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  Speaker 1: This is this is on you. The book came out,
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  Speaker 1: We're going to make sure this book become a number
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  Speaker 1: one bestseller. You deserve. This is about you. This is
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  Speaker 1: about you, guys. Okay, and so you need to make
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  Speaker 1: sure you have your own brokerage account. You're doing your
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  Speaker 1: your own investing, You're taking your you taking your own
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  Speaker 1: finances and affairs in your hand. Okay, next up, I'll
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  Speaker 1: take it.
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  Speaker 2: I'll take it even step further too, because I want
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  Speaker 2: to kind of expand on that a little bit because
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  Speaker 2: for some people like to even why investing is important.
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  Speaker 2: On what a stock is, right, Like, we talk about
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  Speaker 2: stocks as far as that's ownership, and there's private companies
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  Speaker 2: and then there's public companies.
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  Speaker 1: Right.
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  Speaker 2: So the public companies anybody can own it, like Tesla,
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  Speaker 2: like Microsoft. A private company is like earn your leisure
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  Speaker 2: where only we own it. Right. So it's important to
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  Speaker 2: invest in these public companies because as their value goes up,
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  Speaker 2: your investment going to go up over the course of
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  Speaker 2: time as well. Right. So, the only way we took
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  Speaker 2: about inflation, the only way to beat inflation is to
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  Speaker 2: actually invest right, because that's how your money's actually working
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  Speaker 2: for you over the course of time. But another question
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  Speaker 2: that I get about the brokerage is like even like
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  Speaker 2: how to set it up, and it's it's really not
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  Speaker 2: too complicated. Guys, Like you go to the app store
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  Speaker 2: and you download Charles Schwab is another one, or you
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  Speaker 2: download Fidelity and all of these these these apps and
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  Speaker 2: platforms have similar type of things where you just got
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  Speaker 2: to fill in your information. So they have to it's
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  Speaker 2: called like know your customer, right, so they're actually you're
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  Speaker 2: like your social the actually your number, your email. You
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  Speaker 2: have to provide this information. Guys, you can't try to.
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  Speaker 2: I ain't putting my social you gotta provide. You gotta
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  Speaker 2: provide this information and then from there you link your
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  Speaker 2: bank account to it. This is important for people to
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  Speaker 2: fully understand as well, because they're like, well, how do
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  Speaker 2: I get money into the account?
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  Speaker 3: Right?
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  Speaker 2: I gotta fund it. You link your bank account to it,
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  Speaker 2: and then you fund it, and then that that funding
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  Speaker 2: goes both ways. So you put money in from your
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  Speaker 2: bank account and put two thousand dollars for my bank
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  Speaker 2: account into Fidelity, and then when it's time to move
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  Speaker 2: for money from Fidelity to your bank account, vice versa,
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  Speaker 2: vice versa. But where it's hell that this is important,
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  Speaker 2: but our retirement.
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  Speaker 3: Can I give them a hack from what you just said.
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  Speaker 3: This is important too because that transaction time. It can
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  Speaker 3: if you're a new customer, that might take five to
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  Speaker 3: seven days. And so for us having money that we
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  Speaker 3: sent and we don't know where it's going and it's
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  Speaker 3: taking five to seven days. Is a new account opening,
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  Speaker 3: you could fill a little ankst especially rob But what
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  Speaker 3: you can do right, and this is and this is
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  Speaker 3: a good tip. I use e Trade and so when
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  Speaker 3: E trade, I found out the wire instructions, right, So
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  Speaker 3: when I get the wire instructions that come from e trade,
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  Speaker 3: now when I send the money. Right, let's say I'm
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  Speaker 3: sending five thousand dollars to my E trade account, that's
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  Speaker 3: going to get there within thirty minutes rather than waiting
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  Speaker 3: five to seven days. And so yes, you can do
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  Speaker 3: the AH transfers with take three to five or maybe
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  Speaker 3: five to seven if it's a new account. Or you
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  Speaker 3: can get your broke which is wire information, and have
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  Speaker 3: that money expedited because five to seven days in the
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  Speaker 3: market can change a lot, right, like we saw over
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  Speaker 3: the past week, right on Monday's up by Friday, you
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  Speaker 3: could have lost a lot or you could have gained
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  Speaker 3: a lot. So you want to make sure that your
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  Speaker 3: money gets there in expedited fashion. Why in transfers is
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  Speaker 3: another way that you can you can hack that.
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  Speaker 2: And then the last day I'll say before we move on,
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  Speaker 2: is that I used to get this a lot. When
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  Speaker 2: people are talking about their four one ks, they'll have
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  Speaker 2: a four one K, the money's coming out of it that
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  Speaker 2: they're checking it. The money's coming out of their paycheck,
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  Speaker 2: and they automatically assume that it's being invested in. I asked, like,
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  Speaker 2: what are you investing in? And they're like, I don't know,
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  Speaker 2: did not see their statements, and they're not actually invested
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  Speaker 2: in anything. When your money goes into a brokerage account,
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  Speaker 2: it goes into what's called the money market. That's like
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  Speaker 2: a savings account pretty much for a brokerage account, like
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  Speaker 2: it's sitting on the sideline. You have to direct where
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  Speaker 2: the money's going. So the next thing we'll talk about
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  Speaker 2: like actual investments. But don't think that. Okay, I opened
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  Speaker 2: up a Fidelity I link it to my Chase Bank account.
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  Speaker 2: I put two thousand dollars from Chase into Fidelity, and
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  Speaker 2: now I'm invested into the stock market. That's not you're not.
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  Speaker 2: But like I said, that's not how it works. That
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  Speaker 2: actually happened. Like I said, I I see that. I
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  Speaker 2: saw that with retirement when I was a financial adod.
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  Speaker 2: I used to see that with retirements. People have money
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  Speaker 2: they used to have like twenty fifty thousand dollars into
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  Speaker 2: their retirement account because they didn't. They didn't. They would
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  Speaker 2: never fully educated that you had to pick something, and
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  Speaker 2: they just the default for their retirement plans was a
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  Speaker 2: money market account until they decided what they wanted to
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  Speaker 2: do with the money. They never decided what they wanted
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  Speaker 2: to do with the money, and the money was not growing.
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  Speaker 2: It's not a money market is not invested, right, that's
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  Speaker 2: like a zero. It's sitting on it's sitting on a silent.
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  Speaker 2: That's just important. Just because you open it, you put
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  Speaker 2: it in. Now from there, you have to actually put
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  Speaker 2: into it. That's a fact.
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  Speaker 1: Chris.
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  Speaker 3: I'm gonna go back up to this slide where we're
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  Speaker 3: looking at the brokerages. Yeah, is there one that you
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  Speaker 3: prefer all the other or is this case by case,
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  Speaker 3: Like I know the trade is not on there everybody
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  Speaker 3: euyou knows. I love E trade, but I'm USRAE so
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  Speaker 3: not because for informational purposes it's easier for me. I
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  Speaker 3: love the way that we can get information. Is there
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  Speaker 3: is there one that is preferred or the.
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  Speaker 1: Other, Vanguard for long term, I prefer for strictly long
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  Speaker 1: term and or Fidelity. You can't go wrong if that's
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  Speaker 1: the mindset. I'm buying holding this for at least ten years.
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  Speaker 1: Vanguard and Fidelity are phenomenal E trade robinhood in one finance.
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  Speaker 1: Some of those other ones are good too because they
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  Speaker 1: provide even more information and news and other things that
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  Speaker 1: is helpful to the user. So there's no order. But
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  Speaker 1: except for the long term peace, Fidelity and Vanguard are
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  Speaker 1: the ones you're not trying to trade in those with
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  Speaker 1: Vanguard at least, you're not using that to be a trader.
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  Speaker 1: You're trying to your purposely intently trying to invest