Investing Outside of Work
Choosing Your Account Provider
In general, many of the largest wealth managers (Merrill Lynch, Morgan Stanley Smith Barney, UBS, Wells Fargo) choose to focus their business on…
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Investing outside of work
This Is How We Do It … [Invest That Is]
Here we will walk you through how to start investing outside of work.
“If you don't find a way to make money while you sleep, you will work until you die.”
— Warren Buffett
Full participation in your employer’s 401(k) plan is just the first part of saving and investing that you will need to do in order to set yourself up for a successful retirement. A successful young investor will also begin to save and invest in a personal account that is not subject to withdraw restrictions like your 401(k) account is. In the following sections, we will walk you through how to choose an account provider, what types of accounts these brokerage firms provide, and what an ideal investment allocation would be for young investors.
Investing Outside of Work
Types of Investment Accounts
Before we look at each provider let’s do a brief rundown of some of the major types of accounts that you will likely encounter at any firm. You will see there…
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