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4) Investing & Asset Growth
Brokerage account setup
A Brokerage Account is like a bank account, but instead of holding cash, it holds stocks and bonds. You want a broker that is friendly to non-citizens. Charles Schwab, Fidelity, and Vanguard are the 'Big Three.' You will need your Social Security Number (SSN) or ITIN, your U.S. address, and your visa details. When the app asks 'Are you a U.S. Resident?' They are usually asking for tax purposes. If you've been here less than 5 years, you are a 'Non-Resident Alien.'
A Brokerage Account is like a bank account, but instead of holding cash, it holds stocks and bonds.
- You want a broker that is friendly to non-citizens. Charles Schwab, Fidelity, and Vanguard are the "Big Three." Some newer apps like Robinhood are easy to use, but the big three offer better long-term tools.
- You will need your Social Security Number (SSN) or ITIN, your U.S. address, and your visa details. When the app asks "Are you a U.S. Resident?" They are usually asking for tax purposes. If you've been here less than 5 years, you are a "Non-Resident Alien."
Free Resource: How to Open a Brokerage Account and Buy Stocks!
Resources
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