Getting Started - Brokerage Account

So you want to start investing and making dividend income?

You've come to the right place and I have a very simple guide for you.  There may be other ways to get started, but the following steps are based on own experiences:

(My standard disclaimer applies.  This guide is based solely on my own experiences.  If you questions about your personal financial situation it is advisable to contact your bank, broker, and/or finance professional.)

Step 1.  Have a checking account that you can link to your new brokerage account.  This allows you to fund your new account without having to mail in a check.

Step 2.  Open up an investment account with a broker.  Most brokerages will also offer banking services.  You will probably end up with an investment account, a savings account, and an additional checking account by the time you are done.  The additional checking account is nice as it can take 2 business days or more to transfer money from your investment account back to your original checking account.  This checking account with your broker should give you quicker access to dividend payments and proceeds from stock sales.

Step  3.  Confirm that all your accounts are properly linked and that you understand both how to access your money and also how long it takes to transfer your money back and forth between your accounts.

Step 4.  Now the hard part, picking your stocks.  Also make sure you understand what taxable events are and how may affect you and your personal financial situation.

Step 5.  Keep track of your transactions, dividend payments, and gains/losses for stocks you buy and sell.

I realize that this guide is a bit vague, but hopefully you will find it helpful.

Good luck with your investments!