Good afternoon all,
After my last post I have started looking more into Fidelity and Charles Schwab. I have no “market knowledge”tbh
What I would like to do is throw $XX into an account with the 2 and maybe set monthly allotments to the brokerage account.
I would like something safe that grows well over time and is easy to use and understand. And I can make small changes if need be. I plan to when I go back to the states to sit down in office with a employee but I would like personal feedback
What would be better for me Charles or Fidelity?
Need advice for Brokerage accounts
byu/ShiFT_Llif3 inMilitaryFinance
Posted by ShiFT_Llif3
2 Comments
Charles Schwab, Vanguard, and Fidelity are all functionally interchangeable.
Search for “total stock market index” or “S&P 500 index.” Contribute to that for the rest of your working life and check on it 1x a year or so.
Check out the reading at r/bogleheads and take a look at what they say about a 3 fund portfolio. If you are going to receive a pension from the military, you probably don’t need as much bonds as they say, but it’s a great learning resource.
I don’t think you’ll get good answers to this because there probably isn’t a right answer. In life…. when there are two good choices and you can’t decide…. just pick one and start. It’s better to get started somewhere rather than fretting about the absolute best option.
That said, I’d likely steer a friend towards fidelity. I don’t use either, but my impression is that Charles Schwab will try to upsell you on things you don’t need. I have no info to back that up, but it’s my impression. Honestly though you can’t go wrong.
The next thing you’ll get hung up on is where invest. If you don’t have a plan just pick one on the “target retirement” accounts. You can always change it later, the important thing is to get started.