OT: Buying Stock

[Stephen]

Mr Chris Aitken wrote:
> I want to buy some stocks. I've never bought stocks before. I have an 
> RRSP and I eventually want to move that money into a self-directed RRSP 
> (if that's what it's called when you create your own RRSP). I'm taking a 
> Business Mathematics course at a local college (I know, I know, 90% of 
> investing is guts, timing, luck etc. - it's the other 5% I'm taking the 
> math for). For now, though, I thought I'd try buying some blue-chip 
> stock. It's a small amount so I don't want to lose a lot in brokerage fees.
> 
> Does anyone know a good discount broker? Any gotchas? I've never used 
> PayPal or any other online payment method. I've only ever bought 
> anything "off the Internet" by calling a 1-800 number (from a website) 
> then using my credit card over the phone.

Do you have a bank account?

Whoever you bank with is a good starting place since they have some 
record that you exist.

The market is down, and you are, I assume, young, so buying stocks makes 
sense.

How much is in your RRSP? Buying individual stocks when you have less 
that $20,000 (bare minimum) is not wise.

If less than 20,000 consider a stock market index mutual fund from your 
bank.

Google is your friend.

Stephen


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