Looking to create a financial safety net for your future? Want to know how an investment in the stock market can expand your income and secure your assets? Getting started on Wall Street doesn’t have to be difficult - but it does require a little bit of preparation.

Follow the below guide to start your investment journey!

About Wall Street

Wall Street is home to the New York Stock Exchange, where most stock indexes are open for trading. This is where you should look when finding the perfect place to expand your nest egg.

From the outside looking in (and even the inside looking out), Wall Street is very complicated. From stockbrokers to investors, to borrowers, lenders, financial advisors, and more, it can be impossible to figure out where to start, or who to trust with discussing your financial intentions.

We’re here to help you make the right beginner’s decisions.

Finding a Financial Professional

It can be hard to invest in a stock all on your own. You might benefit from assistance from a personal investor, or a brokerage company that can create a portfolio out of your assets and help you get the most bang for your buck.

That’s what the stock exchange is all about; investors are trading, buying, and selling shares of companies with each other. Not only does that explain why stock market prices continue to rise and fall, it also contributes to the continuous cycle of financial movement that keeps the wheels turning in a well-oiled machine.

It is best to have one of these investors handle your money, rather than trying to contribute on your own. That way, you can guarantee that your Wall Street money is going exactly where it needs to be; plus, you can contribute to this reliable, regulated, centralized trading location.

Paying the Right Fees

While working with a stockbroker is definitely recommended if you are new to Wall Street, keep in mind that there are brokerage fees involved. For the most part, this is a reasonable part of the process and it is better than trying to find and buy stocks on your own. Unfortunately, there is no “Craigslist” for stocks where you can easily just buy and sell with no strings attached.

This is why finding a good broker is key to starting your Wall Street journey right. There are many different types of brokers who can assist you depending on what you’re looking to get out of Wall Street, and what companies you are hoping to invest in.

Think of a stock market broker as a real estate agent; they help investors buy and sell stocks in a way that protects them and removes part of the hassle of navigating the complicated market.

When it comes to brokerage fees, you can expect a breakdown of broker costs to be as follows:

  • An annual 1.5% of the stock values managed by the broker
  • A quarterly fee, which typically ranges from $750 - $1000 per account
  • 2.5% of the cash made from selling your stocks for a profit

Typically, there is no need to shop around for stocks on your own. During a conversation with your broker, you will discuss your financial goals and what kind of assets you are interested in having. The broker will do the rest.

Start Off in Good Hands!

Your Wall Street journey will be made much easier once you are able to find a trusted stockbroker to work with. Navigating the New York stock exchange can be too difficult to manage by yourself, but thankfully there are professionals who are trained to help budding beginners like you. Get your assets together, get in touch with a trusted brokerage firm, and watch as your small investment grants you long-term gains.

Author's Bio: 

Rudds James is an online marketplace analyst, startup planner as well as a writer. He's published on several topics composed of articles technology and advertising