Want to buy company stock but not through company

[snafu]

Good on you for seeking ways to save money and use it to invest at 22 y/o. I suggest you use this time to learn more about what's available, at what cost/commission/fees like Swab's, ScottTrade and others mentioned. It would help to know what you already hold in Mutual Funds [MF] in trust, and the MERs, fees/commissions charged by professionals in charge. You can start reviewing possibilities for re-investment when they are finally released to your care at age ?

I suggest you read a couple of books like The Wealthy Barber [Chilton] or The Automatic Millionaire [Bach], each a quick read to set a good base and avoid the expensive mistakes most newbies make. If you really focus,, how long would it take to scrabble together enough money to buy 100 shares of the company you currently work for? Check with HR to find out if there is any way you can participate in their stock plan, perhaps by buying shares out right but at their discounted price. Even though you anticipate leaving after graduation, I wonder if there is a company match in a 401K and whether you would be vested. These plans can be transferred and it's a pity to leave free match money.

It's too soon to mention but as you go on interviews after graduation, listen for the word...matching percentage of retirement contribution and 'vested.'

[Mouse]

Thank you for all the responses, they are all extremely helpful and I greatly appreciate all of it.

I have been doing a lot of research on IRA's and it seems like the hardest parts of starting one is deciding which broker/ mutual fund company to use.

and about the Mutual Funds I currently hold in my Trust Fund, they are all American Funds. I am not too sure on the fees and what not to the professionals I will have to check on that. but once I turn (I think 25) the money is mine and I am free to do whatever I want with it. Obviously I want to keep it invested but I am not sure if I want to keep it with the company/ firm that it is currently in right now or move it to my own choice.

I ordered those two books of amazon and will start reading them once they arrive.

and 100 shares of the stock, with my part time salary and near minimum wage it would take a while. the current price is ~$117. When I started working this past October when the new store opened in my area the price was in the low $90's. other com Our company just bought out some other companies and some of the competitors who we did not buy out are worth in the $400 rage per stock. and in my area that company is getting really bad reviews and a lot of customers are coming to us instead which is a reason why I think the company I work for has potential.

I don't think my companies stock purchase plan offers buying whole stocks right from the start. I was unable to find it when I was reading on the site at work. only thing I could find was how much I wanted to contribute and the cycles of when they would start deducting and purchasing my first stock. but again I am worried because I don't always meet the minimum weekly hours.. lately I have been given a lot more hours but some weeks I wont be needed as much.
But if my company allowed me to buy stock in full from the beginning I would have chose that option right away.

for the 401k. every $1.00 I contribute, the company will contribute $.75. I just can't tell if this goes for part time employees as well. I was not able to find anything related to that. and even If I plan to be with the company for a few more months will that even make a difference if I start an account. like will it be worth it or should I just wait..

also I read somewhere that if the company does not match $1.00 to my $1.00 then my best bet right now would be to start with a IRA.

[disneysteve]

for the 401k. every $1.00 I contribute, the company will contribute $.75. I just can't tell if this goes for part time employees as well. I was not able to find anything related to that. and even If I plan to be with the company for a few more months will that even make a difference if I start an account. like will it be worth it or should I just wait..

Companies typically have a vesting schedule. That means that you aren't eligible for the match, or at least not the full match, from day one. You need to be with the company for a certain period of time. There are different models but a common one is that you are 20% vested each year so it takes 5 years to be fully vested. Other companies do it differently. So if you put in $1 and they match with $0.75 but you leave the company after 1 year, you would only get $.15. After 2 years, you'd get $.30 and so on.

[KTP]

If your income is low enough, don't forget about the saver's credit...an instant 50% return on your investment provided by your Uncle Sam. It is worth as much as $1000 for an individual if you can put at least $2000 into a retirement account from your income.

[Mouse]

ah man I guess I still have a lot more learning and research to do