OT: Buying Stock

[Mr Chris Aitken]

Stephen wrote:

> 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?

Yes.

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

Buy stocks straight fromt he bank?

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

I'm 48.

> How much is in your RRSP? 

I dunno - seven, eight grand?

> Buying individual stocks when you have less that $20,000 (bare 
> minimum) is not wise.

Why?

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

Why?

Chris

> Google is your friend.
>
> Stephen 

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