LIVING OFF DIVIDENDS & PASSIVE INCOME

The Wall Street Journal had a nice article on Opening Your First Investment Account.

• Don’t just open your account with anyone offering you a free IPOD.
  Although free IPOD’s are great, its not necessarily in your best interest.
• Figure out how much hand-holding you require.
  Do you need to go full-service[full commission] or discount brokerage?
• Will you be buying securities or mutual funds?
  Most brokerages charge different amounts for these and some are cheaper for one while being more expensive for the other.
• Are there account minimums or extras for opening an account?
  Basically look for junk fees.

Here are some related posts:

• Why your stock broker will always be richer than you.
• Bank of America Investment Accounts
• Discount brokerage offering $100

• Opening a new brokerage account I recently found out that if you open a new account with TD-Ameritrade[formerly TD Waterhouse, Ameritrade and Datek], with $2000 you get 15 free trades. You can do this even if you have an existing account[according to their customer support]. If you deposit $25,000 they'll give you 25 free trades......
• Time for a Heloc! Ouch! Just tallied last months expenses. Apart from the rent,food, $600 for new tires/brakdes and $900 insurance premium, I had quite a lot of expenses.$6k landscaping$16k unexpected request for a downpayment on a house [1031 shortfall that the loan officer should've caught, but she was in the hospital for 3......
• Got A Free IPOD TDAmeritrade had a promotion sometime back. If you open an account and put a certain amount of money into it, they'd give you a free Ipod. I had already put that exact amount into the account 2 weeks before so I called up and asked if they'd send me a......

• Finding the Right Bank A big portion of how you handle your finances will have a lot to do with the bank that you choose. In most cities, you should have quite a few choices, and with internet banking, it’s never been easier to find a new bank. However, before you open an account,......
• The Best Interest Rates on Savings Accounts Available in March, April and May of 2009 With Congress and the Federal Reserve pumping large amounts of cash into the financial system through the stimulus package, by setting the target Federal funds rate at 0, and with a newly announced plan to inject capital into the market to lower mortgage rates, there's not much of a demand......
• A Nice Surprise in our Bank Account We had a nice surprise of sorts in our online savings account. Upon logging in we discovered that our Federal tax refund was deposited! This was a nice boost to the account since, as I mentioned from our accountant trip, we were getting a pretty large return. The refund hit......

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