Online investing can be faster, more convenient, and more affordable than other methods. However, before you decide to manage your own investment portfolio online, there are a few questions you should ask yourself:

  • What kind of investor are you? Online investing isn’t for everyone. By going this route, you carry the responsibility for researching all investments and making all of the investment decisions in your online account. If you don’t feel comfortable as that type of investor, you might be more comfortable working with a Financial Advisor. If you prefer to direct your own investment portfolio and feel confident that you have the requisite investment knowledge, you may want to consider online investing.
  • What kind of account do you want to open? There are a number of different online accounts to choose from, including individual or joint accounts, a custodial account for your child, educational savings accounts, and different types of retirement accounts. The type of account you choose will depend on the objectives you have for the money you are investing and how you want to invest.
  • Which companies and types of securities are you interested in? For self-directed investors, it pays to do your homework. There is some degree of risk associated with all types of investments, so you will want to conduct some research to help make informed investment decisions. Learning some basic online investing terminology may be helpful.

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