Brokerage firm or personal bank for investments?

Question

Hello, I'm trying to start investing some of my funds I been saving up for quite some time. I am 19 years old, almost 20 soon. I was wondering if I should use Charles Schwab or my bank's investment plan? Which is more safe and reliable? Which is more financially beneficial? Thank you.

Answer 1

try looking at orange savings account, you can find it via sharebuilders.com   they have a good intrest rate, 4% last i saw, but you could invest in stocks, with that you take a chance on loosing all you invest or gainging alot more, but you have to watch the stocks alot, recommend you watch the news and and keep an eye on cheap stock and buy in buld, its worth more on sharebuilders that way

Answer 2

I use Schwab.  They have excellent phone support if you don't live near one of their branches.

Schwab's people are on salary.  Bank investment people are salesmen on commission.