I jumped right in and started with an e-trade savings account since the
starting rate was 3.5%. I then opened a trading account and found
that with the trading account I also had a debit card and checks for
quickly accessing the money. After my money was electronically transferred
into e-trade account (about 7days) I was able to move it between the two
accounts instantly. When I do not have it in the stock account invested in
stocks, I keep it in the savings for the interest. The interest has gone down
to 3.1% since the feds lowered the rate, but that is still as good as most
CD rates without having it locked up. As for access, you get a few uses with your ATM card a month where e-trade reimburses you for the fees.
Otherwise, you can write a check or use the debit card to spend your money
out of the stock account that is not invested (your cash account part of the
stock trading account). So far, I have had fun buying stock and watching it
perform. Each transaction costs 13.00 which is higher than many other
companies, like Scottrade, but I like the debit/checking features that allow
easy access to the money. By the way, look up the performance of Visa (V).
I invested in it at 66.00 a share four weeks ago and it has gone to about 90.00 per share. You do the math and figure out what you can make.
Best regards,
Tim
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