Your First Investment Account

I don’t remember my first investment account, but I do remember my second.*  I had saved up some money from summer jobs and wanted to invest it for retirement.  Now, you have to remember, this was when I was a freshman in college – so I didn’t know very much about investing at the time.  I had a good amount of theoretical knowledge, but I didn’t know much about the practicalities of investing.

I remember walking into my bank and talking to the investment advisor.  She talked about various mutual funds and costs until my head spun.  I was drowning in jargon.  At the end of our meeting, I took some brochures and literature to review.  A few days later, I opened my account and made my investment.

I remember how nervous I was when I signed to documents and made the investment.  At the time, I didn’t really understand the process and paperwork.  It’s the same sort of nervous I have whenever I try anything new.

But you know what?  Over time I became more experienced in investing.  I did more trades and opened more accounts, both for myself and others.  Now, opening an account is nothing, and placing a trade is and exercise in the mundane.

When you open your investment accounts for the first time, it can be a scary experience, but as you grow into investing and develop knowledge and experience, it will become second nature.

* My first investment account was started by my father to invest the long-term savings portion of my childhood allowance for my college education.  One of the securities was Rock Mountain Chocolate Factory.  Is it any wonder that I’m a financial planner?

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