What is a brokerage account?

A brokerage account allows you to buy and sell everything from stocks and bonds to mutual funds, currency, futures and options contracts, depending on the broker. Over the long term, the return on a diversified investment portfolio is much greater than a savings account interest rate, which likely won’t beat inflation.

What is cryptocurrency?

A cryptocurrency is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure transactions. Much of the interest in crypto is to trade for profit. You can buy crypto through some online brokers, or through crypto exchanges.

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How to build a low-cost portfolio with index funds

Building the best investment portfolio for you can be challenging. There are lots of investment choices — how do you know which is the best? That's where index funds come in, which can help you build a well-diversified portfolio instantly while still allowing you to take advantage of stock market returns.

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Investing FAQ

What is an IRA?

An IRA or individual retirement arrangement is a tax-deferred investment account that helps you save for retirement. You can open an IRA at banks, robo-advisors and brokers. Depending on which type of IRA you choose, your contributions may be tax-deductible or withdrawals may be tax-free.

401(k) vs. Roth IRA: Which is best?

Both 401(k)s and IRAs — including Roth IRAs — have valuable tax benefits, and you can often contribute to both types of accounts. The main difference between 401(k)s and IRAs is that employers offer 401(k)s, but individuals open IRAs on their own, through a broker or bank. IRAs typically offer more investment options, but 401(k)s allow higher annual contributions.

How much will you need to retire?

When saving for retirement, most experts recommend an annual retirement savings goal of 10% to 15% of your pre-tax income. High earners generally want to hit the top of that range; low earners can typically hover closer to the bottom since Social Security may replace more of their income.

How do you invest in stocks?

Investing in stocks means buying shares of ownership in a public company. Those small shares are known as the company’s stock, and by investing in that stock, you’re hoping the company grows and performs well over time. When that happens, your shares may become more valuable, and other investors may be willing to buy them from you for more than you paid for them. That means you could earn a profit if you decide to sell them.

Online broker reviews

Fidelity Investments Review 2023

5.0

NerdWallet rating

Fidelity is one of the most well-rounded brokerages available today, with no commissions on stock or ETF trades and a selection of no-expense-ratio index funds suited to both beginner and active investors.

SoFi Active Investing Review 2023: Pros, Cons and How It Compares

4.2

NerdWallet rating

SoFi Active Investing is geared toward young investors getting their start in trading, with commission-free trades of stocks, ETFs and fractional shares. SoFi also offers cryptocurrency trading.