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Pretty much all of them can, assuming they have something left over for savings when they get their paychecks. There's nothing stopping them from opening an acc
by arbuge 9y ago
Pretty much all of them can, assuming they have something left over for savings when they get their paychecks. There's nothing stopping them from opening an account with Charles Schwab, Fidelity, etc. and investing their savings there in whatever they like.
- deathanatos 9y ago> There's nothing stopping them from opening an account with Charles Schwab (I've gone through Charles Schwab's account signup) Charles Schwab, for example, has minimum amounts for opening an account; IIRC, it's $5k. There's also ~200 pages of legal agreements to wade through. (But everyone just blindly accepts those, right? So that "doesn't count" /s) It also has tax implications. It's also not a guaranteed thing that these accounts will make money, and I wouldn't be surprised if that uncertainty affects people's decisions.
- regnarg 9y agoI just signed up for a Schwab brokerage account and it didn't cost anything. They may have updated their policy
- closeparen 9y agoThe tax advantage of a 401k is huge.