STEP
4  
Select a broker to hold your
investment money, and open up the accounts that will form
the foundation of your future wealth:
- In addition to your
employer-sponsored retirement plan (to which you
want to always contribute the maximum), you'll
want to set up four accounts with your broker: a
brokerage account, a regular IRA account, a Roth
IRA account, and, even if you work just part-time
for yourself, a SEP
IRA account
- A broker is an trustworthy
entity that holds your investment money, provides
a marketplace for you to shop for investments,
and keeps records (including tax records) for
you; as your investments grow, you may also want
to consult a financial planner
- For their reputation, mutual fund
marketplace, award-winning stock rating system,
great customer service, and easy-to-use website,
I highly recommend Schwab as a broker for experienced and
novice investors alike
NEXT
STEP
|
Your broker is the custodian
of the garden where your money will grow, in four
accounts: your brokerage account, regular IRA, Roth IRA,
and SEP IRA
|