What do I need to begin investing in stocks and ETFs?
The first thing you need to do is to educate yourself about the financial markets.
ASX has free courses available here:
This will give you a basic understanding of financial markets and how to invest.
You could also read: Millennial Revolution
Which is a kick-arse blog by millionaires Kirsty Shen and Bryce Leung and has a beginner investing workshop for free (my favourite price).
You could also read: Afford Anything
Which is another excellent blog and podcast by Paula Pant, who writes about the tension between dividing scarce resources such as your time, your money, and your life.
The second thing you need is a brokerage account.
Stocks and ETFs are bought and sold from within brokerage accounts. These are generally free accounts that charge a fee to buy or sell shares (generally between $10-$30 per transaction).
How do you decide what brokerage account to buy?
I suggest contacting your everyday bank. ANZ, Commbank, Bendigo Bank etc all have the option to create brokerage accounts that let you buy and sell shares. If you already use netbanking, you will generally be able to login to your brokerage account from your banks netbanking platform.
You’re ready to buy and sell shares.
You know what you want to buy (based on your education) and you know how to do it (with an online brokerage account).
NOTE: I am not a financial advisor. This blog is for entertainment purposes only. I’m not a CPA. I’m basically just a gal who has access to google. You should treat this blog with the seriousness you would treat ANYONE who has access to google. This blog was written in response to a question from Neko Loui. If you have financial question, I’m happy to try to answer it.
By reading this blog, you agree that you read it under your own risk, and Gill’s Practical Bookkeeping is in no way responsible for any harm or prejudice to yourself, your business, or any fictional examples above.
I am not a financial advisor. I do not have an AFSL. I am a chick who likes to read, think, write, and has access to google. You should treat this blog with the same seriousness that you would treat anyone whose main qualification is access to google. This blog is for entertainment purposes only. It’s a little like watching Big Bang Theory for finance nerds.
Anything you take from this blog is your responsibility. Nothing in this blog, even if you are mentioned by name, address, and telephone number, pertains to your personal situation. Anything you agree with, or disagree with, you are welcome to comment on, but your opinions belong to you. You are responsible for your comments. If they are offensive, I will remove them.