Transferring my Stocks from my bank to separate entity?

[hollowtipsParticipant 681]

So about a year ago I started buying stocks and it’s been a fun enriching experience but about a month ago I got slapped with an annual 100$ fee for not having the minimal 10,000$ in my investment account. I would love to have 10,000 invested but I’m 24, still a student and barely scrimping 75$ a month into my savings. I’ll be lucky to hit 10 grand in the next 3 years and don’t want to be charged another 300 dollars does anyone know how to move your stocks, where you can move them to and how much does this typically cost? I have 11 months.

[Anonymous 7]

Shop around. Different outfits have different minimums.
Try to find someone with good online tools and no load funds.

[JVBParticipant]

Keep it liquid bro. If you have to go Vanguard.

Peace is > piece.

[AkhilleusParticipant 2486]

discount brokerage with low fees, you must be in the usa the fees sound like usa. Just google discount brokerages.

Aloha means family you don't leave family behind. Who will be the next Draconarius for MGTOW? MGTOW = brothers = acceptance = belonging

[Anonymous 43]

shop around for a financial planner. There is always a fee. Ask how the planner is compensated. Ask what is the minimum amount for an account. Planners aren’t going to like individual stocks, they like mutual funds and annuities. Avoid annuities. High profit for planner, low benefit to you. No load funds are best funds.

or do it yourself

https://www.directinvesting.com/search/no_fees_list.cfm

http://www.dripdatabase.com/DRIP_Directory_AtoZ.aspx

I like these even better

http://www.etf.com/

educate yourself

https://www.sec.gov/edgar.shtml

https://www.fool.com/

https://www.nerdwallet.com/

don’t forget these guys, they will have their hand out

https://www.irs.gov/

Personally, I don’t like picking stocks, out of how many? 10,000 stocks you are going to pick the one stock that will go up? yeah riiiiight. You are going to know when to get in and get out? Really?

Mutual funds, spread wins and losses over dozens of companies and you can buy fractions of units. Dividends are reinvested automatically, just set it up, make regular contributions and forget it, do not read the quarterly statements! Check it once every year or longer.

Don’t forget about bonds, stocks don’t always go up. Get some precious metal.

Best investment is in yourself, learn a skill outside your regular job, be proficient at it. Next best investment is reduce debt. Investing $10,000 earning 10% a year is useless if you have $10,000 in debt and paying 18% interest. Last best investment, do not get married and have children. lol. Depreciating asset plus increasing expenses over time. Guaranteed money pit.

I am not a financial planner, YMMV etc, consult your own financial planner. Don’t blame me if it all goes to s~~~.

[MarketWatcherParticipant]

You want to call a discount broker like Ameritrade and tell them you want to open an account. Then you want to have them contact your current broker and have the shares transferred “in kind”. This way you do not need to sell your shares as they will be directly transferred. Your current broker might charge a fee for this, but Ameritrade usually offers promotions that will cover the cost. Good luck.

[StealthParticipant 5330]

Ally, Schwab, Vanguard, Fidelity.
No minimums and no fees, far as I know.

"Once you’ve taken care of the basics, there’s very little in this world for which your life is worth deferring." -David Hansson. "It’s not when women are mean or nasty that anything is out of the ordinary. It’s when they are NICE to you that you have to be on high alert..." -Jackinov.

[AragornParticipant 277]

Interactive Brokers
Simply the best

If you change the rules on what controls you, you will change the rules on what you can control

[Author]

Posts