You have decided to start investing but you are having trouble to know where or how to open an investment account.

You think the financial world is very confusing with so many options out there, so where do you start, because this is really all very frustrating at the moment.

Ok, I hear you.

Opening an investment account can be complicated, so here are 3 things to know to undertake that process:

#1 How much money do I need to open in an investment account?

Some investment accounts have a minimum of $100, others much more.

Shop around, plenty of cheap internet brokerage solutions these days.

Still you will need to put some money that will be reserved only for this account so you can invest only into stocks and ETFs.

It’s not for paying your rent or buying your grocery. That money is going to be locked for some time, months, years, and at least 1-3 years to see some real results.

#2 Where am I going to invest that money into?

Which stocks? Which ETFs? And how do I find them?

The brokerage house behind your investment account might give you some ideas where to invest once you open your account.

Be careful though, those ideas are often there to push you to buy and sell stocks frequently and pay them a commission each time, sometimes hidden commissions.

If your broker is claiming to be “free”, read the fine print and disclosure before you start buying all those stocks, because nothing is really free.

#3 Read carefully all those documents

Finally, you will need to read and sign a lot of regualory documents to open your account.

Most of them are done electronically but it’s still a tedious process.

You will be asked about your level of financial knowledge, and the type of risks you want to take.

Read everything carefully, and expect about 1h to review and complete the whole process.

Everyone, even investment professionals, has to go through that process.

So don’t worry, it’s not only you.

Opening an investment account is the first step to make when you have money to invest.

But before you start investing, you could feel more comfortable if you knew in advance which stocks and ETFs to put your money into.

Because this would give you a real sense of control how to invest and not fall into the predatory games of the “free” brokers.

If you don’t know what stocks or ETFs to put your money into, use the 3 stocks given to you in WealthVenue 1-2-3 portfolios and start investing like you should.