Why Is Stock Trading So hard?
The act of trading a stock really isn’t hard.
I know how to do it, like most people I figure.
Why am I struggling with the start of it?
Full disclosure and honesty, I am completely new to investing. What I do know I learned from books, online, and the short amount information learned while in business school.
I have the societal standard 401K from my previous job sitting around in an account not being touched. I know enough or have heard from people that withdrawing any of that money early comes along with fees. The best thing to do is just let it be.
I have also heard that you can transfer the money from a 401K account to an IRA for free (no penalties). What about transfering it to an online trading platform that deals with stocks and ETF’s? Can I do so without a fee?
If you made it this far you can tell that fear is holding me back. Countless times I have began the quest to find a company to invest with; Fidelity, Merrill Webb, Schwaub, etc.
Company XYZ offers this bonus (something I am not really interested in) but has this fee and account minimum.
I am not interested in the bonuses because for someone to usually qualify for said bonus they have to fund an account with an amount that would buy a car. Not all of them are like this but I am not looking to fund an account with this much money just yet.
I am in the learning stage. I feel that I need make a list of all the firms out there, tape it to the wall, and throw a dart at it. What ever I hit I go with. If I keep doing what I am doing and sit here reading reviews and trying to figure out which one company is best, I am going to end up in the same spot as when I started; confused, frustrated, and still without a investment firm.
What about having someone invest for me? Nope I have already decided that if the money I put up for investing is going to be at risk for a loss than it will be me who controls it.
That last statement is probably the biggest reason that I hesitate. Stock trading is a skill that I know little about and real money can be lost. When I sit here and not commit to any one company I am not losing money.
I am not losing money but I am not making money in the long run either. Sure I am making the small amount from my savings account. The few cents each year is really going to put my children in a nice college.
My mind is right. I am not looking for a get rich quick idea. I know and have read that investing is a long-term commitment. If I can be with the same woman for eleven years I can commit money to an investment for the long run.
Why can’t I start though? If you trade who did you start with and why? Some advice would be great and like always appreciated.
