What is an investment brokerage account???

And what is an Index Fund SP 500?? Should I be opening one? I am trying to build wealth?

An investment brokerage account is an account at a bank that lets you buy and sell individual stocks. It's your stock "broker" - hence, the name.

If you're new to investing, do *not* get a brokerage account, yet. Maybe in a few years, but you're not ready for it now.

You want to buy mutual funds (your money is pooled with others and spread across hundreds of individual stocks). This is safer and more diversified.

An S&P 500 Index Fund is a mutual fund that spreads your money across many (possibly all) of the 500 stocks that make up the S&P 500 Index. It's a cheap fund and makes a well diversified stock portion of your investments. That doesn't mean it won't go down - investing in stocks means that, although they may trend up on average, there will be some pretty big dips along the way.

A fantastic place to buy an S&P 500 Index Fund is at http://www.vanguard.com Open a mutual fund account there. Make a phone call, and they'll tell you where to find the S&P 500 fund.

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