Latest / Earn Your Leisure / How to Buy Stocks

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How to Buy Stocks · Earn Your Leisure

• 0:01
  Speaker 1: Earners. What's up.
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  Speaker 2: You ever walk into a small business and everything just
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  Speaker 2: can keep pushing your vision forward. This episode is brought
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  Speaker 2: to you by P and C Bank, a lot of
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• 1:51
  Speaker 1: So, how to.
• 1:52
  Speaker 3: Start investing in stocks? And the three of us get
• 1:55
  Speaker 3: this question all the time, so we wanted to lead
• 1:58
  Speaker 3: with that, and we want to break it down as
• 2:01
  Speaker 3: simply as we can. And so first, you need a
• 2:05
  Speaker 3: brokerage account. What is a brokerage account?
• 2:07
  Speaker 1: Okay?
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  Speaker 3: A brokerage account, simply guys allows you to buy stocks, sales, stocks,
• 2:13
  Speaker 3: invest okay. And so some of the more notable names
• 2:18
  Speaker 3: you might know of or be familiar with, or you
• 2:21
  Speaker 3: may not be Vanguard Fidelity. Those are two ones that
• 2:27
  Speaker 3: has just been around for the test of time. Now
• 2:30
  Speaker 3: and if you are thinking long term, these two entities
• 2:35
  Speaker 3: are ones you want to consider. Fidelity Vanguard you want
• 2:40
  Speaker 3: to think about once I do take this step to invest.
• 2:45
  Speaker 3: Let me open up a Fidelity account, let me open
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  Speaker 3: up a Vanguard account. You want to start there with
• 2:51
  Speaker 3: the premise in mind that you are thinking long term.
• 2:54
  Speaker 3: Then you have everything from more newer apps, more user
• 2:59
  Speaker 3: friendly like robin Hood, we Ball, interactive brokers, Tasty Trades,
• 3:05
  Speaker 3: to name a few. So listen, guys, it starts with
• 3:08
  Speaker 3: before you can invest, you have to have a brokerage
• 3:11
  Speaker 3: account to even deploy your money too.
• 3:14
  Speaker 1: Okay.
• 3:15
  Speaker 3: And this is lateral from your job. This is separate
• 3:18
  Speaker 3: from whatever you are getting at your place of employment.
• 3:21
  Speaker 3: This is this is on you. The book came out,
• 3:25
  Speaker 3: We're going to make sure this book become a number
• 3:27
  Speaker 3: one bestseller. You deserve. This is about you. This is
• 3:33
  Speaker 3: about you, guys. Okay, And so you need to make
• 3:35
  Speaker 3: sure you have your own brokerage account. You're doing your
• 3:39
  Speaker 3: your own investing. You're taking your you taking your own
• 3:42
  Speaker 3: finances and affairs in your hand. Okay, next up.
• 3:46
  Speaker 1: I'll take it.
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  Speaker 4: I'll take it even step further too, because I want
• 3:48
  Speaker 4: to kind of expand on that a little bit because
• 3:50
  Speaker 4: for some people like to even why investing is important
• 3:56
  Speaker 4: on what a stock is, right, Like we talk about
• 3:57
  Speaker 4: stocks as far as that's ownership and private companies and
• 4:00
  Speaker 4: in this public companies, right, So the public companies, anybody
• 4:03
  Speaker 4: can own it like Tesla, like Microsoft.
• 4:06
  Speaker 1: A private company is like earn your leisure where only
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  Speaker 1: we own it. Right.
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  Speaker 4: So it's important to invest in these public companies because
• 4:12
  Speaker 4: as their value goes up, your investment going to go
• 4:15
  Speaker 4: up over the course of time as well. Right, So
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  Speaker 4: the only way we took about inflation, the only way
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  Speaker 4: to beat inflation is to actually invest, right, because that's
• 4:22
  Speaker 4: how your money is actually working for you over the
• 4:24
  Speaker 4: course of time. But another question that I get about
• 4:26
  Speaker 4: the brokerage is like even like how to set it up,
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  Speaker 4: and it's it's really not too complicated.
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  Speaker 1: Guys, like you go to the app store and you.
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  Speaker 4: Download Charles Schwab is another one, or you download Fidelity
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  Speaker 4: and all of these these these apps and platforms have
• 4:41
  Speaker 4: similar type of things where you just got to fill
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  Speaker 4: in your information. So they have to it's called like
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  Speaker 4: know your customer, right, so they're actually you're like your
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  Speaker 4: social the actually your number, your email. You have to
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  Speaker 4: provide this information. Guys like you can't try to, I ain't.
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  Speaker 4: You gotta provide You gotta provide information. Yeah, and then
• 5:02
  Speaker 4: from there you link your bank account to it. This
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  Speaker 4: is important for people to fully understand as well, because
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  Speaker 4: they're like, well, how do I get money into the account?
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  Speaker 1: Right? I gotta fund it.
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  Speaker 4: You link your bank account to it, and then you
• 5:13
  Speaker 4: fund it, and then that that funding goes both ways.
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  Speaker 4: So you put money in from your bank account, or
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  Speaker 4: put two thousand dollars for my bank account into Fidelity,
• 5:21
  Speaker 4: and then when it's time to move for money from
• 5:23
  Speaker 4: Fidelity to your bank.
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  Speaker 1: Account, vice versa, vice versa.
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  Speaker 4: But where it's hell that this is important but our
• 5:31
  Speaker 4: retirement can.
• 5:32
  Speaker 2: I give them a hack from what you just said.
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  Speaker 2: This is important too because that transaction time. It can
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  Speaker 2: if you're a new customer, that might take five to
• 5:38
  Speaker 2: seven days. And so for us having money that we
• 5:41
  Speaker 2: sent and we don't know where it's going and it's
• 5:43
  Speaker 2: taking five to seven days. Is a new account opening
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  Speaker 2: you could fill a little ankst especially, but what you
• 5:52
  Speaker 2: can do right and this is and this is a
• 5:53
  Speaker 2: good tip.
• 5:54
  Speaker 1: I use e trade and so when e.
• 5:56
  Speaker 2: Trade, I found out the wire instructions, right, so when
• 5:59
  Speaker 2: I get the all your instructions that come from e trade,
• 6:02
  Speaker 2: now when I send the money. Right, let's say I'm
• 6:04
  Speaker 2: sending five thousand dollars to my E trade account that's
• 6:07
  Speaker 2: going to get there within thirty minutes rather than waiting
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  Speaker 2: five to seven days. And so yes, you can do
• 6:12
  Speaker 2: the AH transfers with take three to five or maybe
• 6:14
  Speaker 2: five to seven if it's your new account, or you
• 6:16
  Speaker 2: can get your broke which is wire information, and have
• 6:19
  Speaker 2: that money expedited because five to seven days in the
• 6:22
  Speaker 2: market can change a lot. Right, like we saw over
• 6:25
  Speaker 2: the past week, right on Monday's south By Friday, you
• 6:28
  Speaker 2: could have lost a lot or you could have gained
• 6:29
  Speaker 2: a lot. So you want to make sure that your
• 6:30
  Speaker 2: money gets there in expedited fashion. Why in transfers is
• 6:33
  Speaker 2: another way that you can you can hack that.
• 6:35
  Speaker 1: Then the last day I say before we move on, is
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  Speaker 1: that I used to get this a lot.
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  Speaker 4: When people are talking about their four one ks, they'll
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  Speaker 4: have a four one K, the money's coming out of
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  Speaker 4: it that they're checking it. Their money's coming out of
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  Speaker 4: their paycheck, and they automatically assume that it's being invested.
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  Speaker 4: I asked, like, what are you investing in? They're like,
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  Speaker 4: I don't know, did not see their statements, and they're
• 6:53
  Speaker 4: not actually invested in anything. When your money goes into
• 6:56
  Speaker 4: a broken account, it goes into what's called.
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  Speaker 1: The money market.
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  Speaker 4: That's like a six's account pretty much for a brokerage account,
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  Speaker 4: like it's sitting on the sideline. You have to direct
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  Speaker 4: where the money's going. So the next thing we'll talk
• 7:09
  Speaker 4: about like actual investments. But don't think that. Okay, I
• 7:13
  Speaker 4: opened up a Fidelity A link it to my Chase
• 7:15
  Speaker 4: bank account. I put two thousand dollars from Chase into Fidelity,
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  Speaker 4: and now I'm invested into the stock market. That's not
• 7:24
  Speaker 4: you're not int But like I said, that how it works.
• 7:26
  Speaker 4: That actually happened. Like I said, I see, I see that.
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  Speaker 4: What I saw that with retirement when I was a
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  Speaker 4: financial bid, I used to see that with retirements people
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  Speaker 4: have money they used to have like twenty fifty thousand
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  Speaker 4: dollars into their retirement.
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  Speaker 1: Account because they didn't. They didn't.
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  Speaker 4: They would never fully educated that you had to pick something,
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  Speaker 4: and they just the default for their retirement plans was
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  Speaker 4: a money market account until they decided what they wanted
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  Speaker 4: to do with the money. They never decided what they
• 7:47
  Speaker 4: wanted to do with the money, and the money was
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  Speaker 4: not growing. It's not a money market is not invested right,
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  Speaker 4: that's like a like zero, it's sitting on it's sitting
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  Speaker 4: on the sideline side. That's just important. Just because you
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  Speaker 4: open it, you put it in. Now from there, you
• 8:00
  Speaker 4: have to actually put into it.
• 8:01
  Speaker 1: That's a fact, Chris.
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  Speaker 2: I'm gonna go back up to this slide where we're
• 8:04
  Speaker 2: looking at the brokerages. Yeah, is there one that you
• 8:07
  Speaker 2: prefer all the other or is this case by case?
• 8:09
  Speaker 2: Like I know, each trade is not on there. Everybody
• 8:12
  Speaker 2: euyou knows. I love E trade, but I'm using trade
• 8:15
  Speaker 2: so not because for informational purposes. It's easier for me.
• 8:19
  Speaker 2: I love the way that we can get information. Is
• 8:21
  Speaker 2: there is there one that is preferred the.
• 8:24
  Speaker 3: Other Vanguard for long term, I prefer for strictly long
• 8:30
  Speaker 3: term and or Fidelity. You can't go wrong if that's
• 8:33
  Speaker 3: the mindset. I'm buying holding this for at least ten years.
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  Speaker 3: Vanguard and Fidelity are phenomenal. E Trade robinhood in one finance.
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  Speaker 3: Some of those other ones are good too, because they
• 8:45
  Speaker 3: provide even more information and news and other things that
• 8:49
  Speaker 3: it is helpful to the user. So there's no order.
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  Speaker 3: But except for the long term piece, Fidelity and Vanguard
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  Speaker 3: are the ones you not trying to trade in. Those
• 9:01
  Speaker 3: will Vanguard at least, you're not using that to be
• 9:03
  Speaker 3: a trader. You're trying to your purpose intently trying to invest.
• 9:07
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