Best brokerage firms.
My husband and I are 63 and are looking to retire partially in 6 months and fully in 1.5 years. We own our own home and have no debt at all. I have managed to save almost $170,000 in cash , and have invested $100,000 of that in T-bills. We also have IRA’s and ESOP shares.I would like to open a brokerage account to start investing in the market. Which brokerage is best for a beginner?
Terry Says
Wait — let me get this straight. You’re retiring, will be earning no more money — and NOW you want to start speculating/investing in the stock market?? You do understand the downside risk of even investing in the broad S&P 500 stock index? (I have personally lived through THREE bear markets of at least 50% declines! Are you sure you won’t panic in a downturn when you see your savings melting away???
ANY brokerage firm is likely to take advantage of your naivete. Instead, I suggest meeting with a financial planner who is a FIDUCIARY, and charges only a fee (not commissions). Read this: Pam Krueger Wealthramp – Terry Savage
And do this BEFORE you officially retire. And do NOT take Social Security until your Full Retirement Age. REad this: When to Take Social Security – Terry Savage
