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  • Writer's pictureHello MGB [MultiGenerational.Black]

What is a brokerage account?

Updated: Oct 13, 2023

It's actually shocking that in the almost two and a half years of this blog, this is the first post to explain about this essential part of investing, but--better late than never!

You know about a checking account or a savings account. These are accounts that allow us to store money somewhere other than under our mattresses... We get a checking or savings account through our bank.

A brokerage account is also a place to store money, but one which allows us to have access to buying investments, like stocks, bonds, mutual funds and ETFs.


Some of the largest brokerage companies are: Vanguard, Schwab, Fidelity. You have likely also heard of Robin Hood and eTrade. These are all brokerage companies, and they all allow a person to start investing in the stock market once an account is opened with them.


This is likely a good time to let you know: MultiGenerational.Black is changing its business model. Originally, we were going to invest money for you, but in these past almost two and a half years, we have seen that instead of letting you be passive in the process, it was more valuable for us to 'teach you how to fish,' so to speak, by giving you the investing education that would allow you to make good investing decisions yourself.


Thus, the MGB Investing Starter Kit workshop, taught monthly, gives you twelve simple and practical steps to take, over the course of six months to a year, that get you in great shape to begin investing.


You can sign up for the next workshop by clicking HERE or for more info, go HERE.


But back to the concept of a brokerage account, you're only able to trade stocks by opening one. You'll need a Social Security number, possibly some money to fund it with, and you need to be over 18. And of course, you need to have an idea of what to invest in! And that's what the workshop is for...


Do you have a brokerage account? Do you have any thoughts for us in our pivot? Let us know in the comments! And as always, thanks for reading this!



Image: WOC In Tech from Nappy.co


Quick Links:

Step 1 in the MGB Investing Starter Kit process is HERE

Step 2 is HERE --Keep a Digit Tally, like You Need A Budget or RocketMoney or our free tracker HERE

Step 3 is HERE

What is Investing? is HERE


What is The MGB Investing Starter Kit? is HERE


To join for our next MGB Investing Starter Kit Workshop, sign up HERE



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