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  1. #1
    Aaaucehus Guest

    Default Long term holds vs. Swing Trades

    o most people have seperate accounts for their short term and long term holds?

    I am a fairly young and new investor. I have a scottrade account that I just recently opened and use for swing trades.

    I am wanting to start investing for a home purchase. My goal is to purchase my first home within the next five years. I am thinking of having a portfolio primarily comprised of ETF's. Should I set up an account with a different brokerage firm for this goal? I would like to have a % of my paycheck directly deposited into this account. Any suggestions would be appreciated. Is the ETF idea the best solution for the goal I am trying to accomplish?

  2. Default

    I have separate brokerages for Banking/investing and Trading, but you don't need to do that. You can have several accounts with Scottrade if you want a separation of the funds just for ease of use sake without any additional cost (I believe). You may find the relationship can extend to home mortgages etc.
    I use Merrill for all that stuff because they have an amazing array of product in a single location, and I get one statement for 12 different accounts including mortgage, credit cards, checking, brokerage acct, IRA's and others. If that works for your circumstances I can't recommend it more highly, but your also likely to find the services you need at a discount broker.



  3. Default

    I use Scottrade for day/swingtrades (and occasionaly for bag holding)

    I use Sharebuilder for an IRA with the majority of the equity in SPDRS, which has been a good performer for me. Of course there are a host of etf's to choose from and I think they are a great choice for longterm investing. Sharebuilder offers direct debit from your checking account and automatic dividend reinvestment or a free money market account for your cash, they offer weekly, bi-weekly or monthly contributions to your investment plan. They also have varying plan levels and investment tools which can be handy in tracking your portfolio performance.

  4. #4
    Aaronvup Guest

    Default

    I'm not sure if there are penalties for early withdrawal to buy a house, I thought I had read somewhere once that home buying was exempt from penalties (you would need to get a definitive answer to that before considering an IRA to save for a house), but the deffered taxes would obviously have to be paid on any withdrawals.

    Kudos to you for starting to save and invest at an early age, I wish I had done so.

 

 

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