In May of 2017, I decided this was the moment, no more delaying. I will take charge of my retirement and begin making my own investing decisions. I registered for E*Trade and set up two accounts, first an IRA and second and individual brokerage account. The IRA offers some tax benefits and the brokerage account does not.
I transferred $500 from my personal savings into the brokerage account. The transfer was complete by 5/16 and the money was available as “cash” to purchase stocks. I bought 16 shares of Lumber Liquidators (LL) for $26.125 each, for $477.20 total. I decided on them because their stock price had come down a lot as they were recovering from a scandal. The company seemed to be working very hard to fix the problems it had in the past. My hope was that it would not have another scandal and the price would return to a higher level.
I rolled over $13,203.54 from my IRA with Edward Jones which was held in the mutual fund MAGWX. I sold all 677.452 shares of MAGWX and bought 211.05 shares of T Rowe Price’s Mutual fund PRGFX for $13,068.54. I bought this fund based on a few Google searches that gave this one high marks. It had low fees and good returns, historically beating the S&P 500 most of the time.
Through E*Trade I set up automatic transfers into my IRA on the first of each month for $100. This money was set up to be “cash” available to invest in stocks or mutual funds as I decided.