What Is A Brokerage Account? Why Do I Need One?
A brokerage account is an investment account that allows you to buy and sell various investments, such as stocks, bonds, mutual funds, and ETFs. Whether you're saving for the future or saving for a big purchase, you can use your line of credit anytime, anywhere.
Are you ready to achieve your financial goals? Learn about the benefits of a brokerage account and how it compares to other types of investment accounts.
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What can you do with a brokerage account?
You can use your brokerage account to access stocks and other types of investments. Opening a brokerage account is the first step in building a personal portfolio.
- Buy and sell stocks, mutual funds, ETFs and other securities.
- Take advantage of long-term growth potential.
- Set aside money for retirement or other goals like college tuition or a down payment.
- Get investment research, tools and strategies.
How is a brokerage account different from other accounts?
Brokerage account is a broad term that covers several types of accounts. For example, a standard brokerage account offers maximum flexibility and access to a variety of investments. Use the account comparison table below to learn more about how standard brokerage accounts compare to other account types.
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How do I use my brokerage account?
Many investors open a brokerage account to start saving for retirement. However, the flexibility of this account means that you can withdraw money at any time or use the funds for more short-term goals, such as a B. new home, wedding, or major remodeling project.
Your broker account can help you:
- stock trading
- Long-term investment
- More savings goals
When you open a brokerage account with Schwab, you can also choose how your investments are managed. You can manage your investments yourself, hire advisors, or even consider automated investing - Schwab has a variety of ways to invest so you can achieve your goals on your own terms.