How to Invest in Index funds for Beginners 2024 | Step by Step Guide

Now I’ve been investing since I was about 19 years old, and only after about 5 years did I start buying index funds. I own both ETF and Index funds, and in this video, I’ll tell you why and I’ll also show you how to do it.

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1. Pick a Broker
– A broker is the company that you are going to use to buy and hold your investments
– Brokers are usually backed up by insurance of about 500k
– Brokers can go broke and face issues, so you want to involve yourself with a big broker that has been doing business for a long time

Here are the Three I recommend:
– Fidelity
– Charles Schwab
– Vanguard ( I Use Vanguard ) – 9.3Trillion assets in control, 50m plus clients, and a history of over 100 years I think
I like them for three reasons:
– Massive
– Low Fees
– Customer service
Open an Account:
– You can open a taxable account ( that’s a normal brokerage )
– Or you can open a retirement account, for like a Roth iRa
– I have a video coming soon on that by the way

2. Picking the Index Fund you want to invest into
– Now Some funds have an investment minimum
– You should know that an index fund is just a type of mutual fund

Ways around investment minimum
– For example, if you want to invest in the S&P 500
– The minimum is $3,000
– But if you open it with a retirement account, you wave the minimum

Another way to avoid the minimum
– If to instead buy an ETF, these are exchange-traded funds and the minimum can be $1
– These can fluctuate a lot, because it’s like any other investment on the market
– While index funds just give you a price per day

3. Some Knowledge for people that will take this seriously
– I only buy s&p 500 it’s cheaper and more simple
– And I’m still diversified across 11 sectors
If you’re going to invest:
– Max out free money at the company first
– Then max out the roth ira
– And then worry about investing in a brokerage account

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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