 Your
first step is to open your BUYandHOLD account — or
accounts. (You can click
here or go to the BUYandHOLD home
page and click on "Open an Account" in the
menu on the far left-hand side.
The registration process is really basic and painless — you provide your name and contact information, choose a user name and password, then select the kind of account or accounts you want to open.
BUYandHOLD offers eight types of accounts:
- INDIVIDUAL ACCOUNT This is in the name of one person of legal age. You can open one account for you, one account for your spouse. You can even open a joint account.
- JOINT ACCOUNT This is an account in the name of two people, both of legal age.
- CUSTODIAL ACCOUNT FOR A MINOR This is an account you can open in the name of your child (although as legal custodian, you retain control until your child comes of age). This, by the way, is a great family project to do with your kids. Having their own account teaches them about how money works. They can even invest in companies they know and love, like McDonald's and Disney.
- INVESTMENT CLUB ACCOUNT If you have a group of people who want to pool funds and invest as a group, here's an account that meets your needs.
- TRADITIONAL IRA This is an individual retirement account that allows earnings to be tax-deferred until withdrawal.
- EDUCATION IRA This is a savings account for a child's college education where earnings grow tax-deferred and distributions can be tax-free.
- ROTH IRA This account allows taxpayers to save for retirement while allowing the savings to grow tax-deferred and qualified withdrawals are tax-free.
- ROLLOVER IRA This is a holding account for assets distributed from an employer-sponsored qualified retirement plan.
Which accounts make sense for you? |
Long-term Family Investing Made Simple
