This post is mainly for people who have not yet invested, but if you’re an old hand and what to add any links or comments I love to hear from you too.

Common sense is alive and well. I have had family and friends express an interest in starting to invest so I a summary on how to get started was in order.

1. THINK: Anyone who thinks now is a good time to start investing is already ahead of the game. You’re a bargain hunter and naturally synched in with Buy Low, Sell High. Every single asset should be bought low and sold high, that includes shares, property, investment funds, gold et al. It is really very simple and still people find it incredibly hard to do.
2. ACT: Thinking is not enough, you need action. There is no joy in being a coulda, woulda, shoulda. The cheap assets around the globe right now are shares and you should be buying. In this series I hope to to show you how to put the pedal to the metal by opening your first on-line broker account, selecting and making your first purchase.
3. MANAGE your own money. It is fundamentally important to manage your own money. Do you really want to trust your financial future to someone else? Getting advice is fine, but you and only you should make the final decisions and have control over your accounts. Don’t ever give anyone access to your accounts no matter what.
4. HOW: First up you’ll need an account with a stock broker, or more accurately an online stock market account and perhaps a linked cash management account. There are lots of options for this and what is right for you depends on a number of factors. How much you have to invest, frequency of investing, computer literacy, internet security awareness, ease, importance you place on customer service and so on.

American’s are spoilt for choice in low cost online brokers. Think or Swim, optionsXpress or my favourite and Interactive Brokers are all worth considering.

In Australia we’re not as spoilt for choice.

If convenience is your number one consideration then consider opening a share trading account with you bank. If you bank with Commonwealth Bank then Commsec is probably fine for you. If you bank with ANZ then e-trade may be the right option. I have no experience with NAB’s or Westpac’s online share trading, though the level of information they provide online is pathetic and online stock broking does not appear to be a focus for them.

If price is your priority then Bell Direct is the one for you. Followed by Commsec and e-trade.

If international markets are of interest and you want to buy in both Australian and other international markets like the US then Interactive Brokers or optionsXpress are the ticket.

The main thing is opening an account is easy and moving from one broker to another is also incredibly easy. So don’t fret to much about the choice. Just do it. Opening an account is free and easy, so go on do it. Get ready to invest.

Next up I’ll discuss what to do with your newly opened account.

Foolish article on how to size up a broker.

Related posts:

1. How to Invest in the USA
2. Great Southern Ltd. (ASX:GTP) TREES Get Ready for Conversion