If you intend to invest your money in stocks and if you are a first-timer at doing this, it would be a good idea to open a Sharebuilder account so that you would be able to manage your money carefully. A Sharebuilder's account connects you to several investment firms and thousands of stocks, mutual funds and other traded funds. Read on below to be guided on how to begin investing with Sharebuilder.
- First browse through the site and read about all the products offered there. Read up also on the fees so you can factor this in when you begin investing.
- Once you have read through properly, open an account with the Sharebuilder.Com and decide on what account type you will be using. Sharebuilder provides a lot of options such as --- an individual account, a join account, an education savings account, traditional IRA and many more. If you have read up on the site before opening an account, you should be able to figure out the differences among these accounts.
- You will then be asked for your personal information after making the decision on what account you are opening. You will have to provide your real name, address and contact numbers online. After which, you will also be creating your own username and password and some security settings. You will also have to fill out forms such as a W-9 compliance needed by the IRS.
- When your new account is active, it's now time to explore investment plans by looking into the features provided by Sharebuilder. These are usually divided into Advantage, Standard and Basic. Each account has a corresponding fee and the other more advanced plans have additional tools. But as you are a beginner, you might want to choose Basic first and purchase only from one company.
- If you have already chosen which product to invest on, you can then input your source of funds under the Account Profile tab. Add your savings account or checking account as the system will prompt you for it. You can also opt to use wire transfer or check by mail as your source of funds.
- Once set-up, it's now time to trade. Click on the Trade tab found on your Sharebuilder account dashboard, and choose the stock you want. You can view all of the stocks you've bought under the Manage Plan tab and configure whether this investment will be made weekly or monthly. Remember the corresponding fees attached per investments you're making.
- As soon as you decide on it, click the buttons to confirm the transaction, and then you are good to go.
Make sure though that before you invest, you have enough funds with you. If you are set up to invest weekly or monthly, also make sure that there is money in your source of funds before the said investment dates. Finally, read the sites Terms&Conditions thoroughly and do your best to understand all of it before you enter into any type of investment.