Definition
An account where you can buy and sell investments like stocks, bonds, and mutual funds. Can be opened through firms or online platforms.
What to consider
- It’s a gateway to investing—make sure it suits your level of experience.
- Review fees and available tools to help manage your investments.
- Regularly check your account to monitor progress toward your goals.
Real world scenarios
- After building a small emergency fund, Taylor opens a brokerage account to buy her first shares of stock.
- Bryce consolidates his scattered investment accounts into one brokerage for easier tracking and unified statements.
- Melanie reviews her brokerage account monthly, checking progress toward her long-term goal of buying a second property.
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