Earn Your Leisure Podcast – “How to Buy Stocks”

Date: October 25, 2025
Hosts: Rashad Bilal, Troy Millings
Podcast: iHeartPodcasts

Episode Overview

In this episode of Earn Your Leisure, Rashad Bilal and Troy Millings break down the fundamental steps to buying stocks for beginners. The hosts guide listeners through setting up a brokerage account, funding it, understanding basic investment concepts, and choosing the right platforms for different financial goals. Their candid, energetic tone demystifies stock investing, making it accessible for everyone ready to take control of their financial future.

Key Discussion Points & Insights

1. Opening a Brokerage Account

(02:32 – 04:27)

• Why a Brokerage Account is Necessary

  • “Before you can invest, you have to have a brokerage account to even deploy your money to.”
  • Traditional brokers like Vanguard and Fidelity are recommended for long-term investing due to stability and reputation.
  • Newer, more user-friendly apps such as Robinhood, Webull, and Interactive Brokers are also mentioned.

• Personal Responsibility & Financial Independence

  • “This is about you. This is about you guys. You need to make sure you have your own brokerage account. You’re doing your own investing, you’re taking your own finances and affairs in your hand.” (03:13)

2. Understanding Stocks and Why to Invest

(04:27 – 05:41)

• Explaining Public vs. Private Companies

  • Public companies (e.g., Tesla, Microsoft) are available for anyone to buy shares; private companies are privately owned.
  • “...as their value goes up, your investment going to go up over the course of time as well, right?”

• Investing and Inflation

  • Investing is presented as a key strategy to beat inflation: “Only way to beat inflation is to actually invest, right? Because that’s how your money’s actually working for you over the course of time.” (04:52)

3. Setting Up and Funding Your Account

(05:41 – 06:02 & 10:21 – 10:32)

• Steps to Open an Account

  • Download the app, provide personal information (like Social Security number for legal requirements), and link a bank account.
  • Demonstrates simplicity and necessity:
    • “You gotta provide this information.” (05:38)
    • “Then from there you link your bank account to it... and then that funding goes both ways.” (05:41)

• Transferring Money In and Out

  • Transfers can go both directions between your bank and brokerage.
  • Timing for transfers is discussed in detail (see next section for hacks).

4. Funding Hacks: Faster Transfers

(10:32 – 11:35)

• ACH vs. Wire Transfers
  • Standard ACH deposits can take 3–7 days, especially for new accounts.
  • Time in the market matters, so faster deposits can be important.
  • HACK: Use wire transfers with your brokerage’s wiring instructions:
    • “Let’s say I’m sending $5,000 to my E*TRADE account. That’s going to get there within 30 minutes rather than waiting five to seven days.” (10:50)
    • “Five to seven days in the market can change a lot, right?” (11:20)

5. Money Market Pitfall: You’re Not Invested Yet!

(11:35 – 13:01)

• Common Mistake with Brokerages and 401(k)s

  • “When your money goes into a brokerage account, it goes into what’s called the money market. That’s like a savings account pretty much for a brokerage account.”
  • Many people mistakenly believe the transfer itself is investing, but the money just sits there until you choose an investment:
    • “Don’t think that, okay, I opened up Fidelity. I link it to my Chase bank account. I put $2,000 from Chase into Fidelity, and now I’m invested into the stock market. That’s not quite how it works.” (12:23)

• Importance of Making an Investment Selection

  • “Just because you open it, you put it in. Now from there, you have to actually put into investment.” (12:57)

6. Choosing the Right Brokerage for Your Goals

(13:01 – 14:07)

• Platform Preferences and Use Cases
  • For long-term investing: Vanguard and Fidelity are favored.
    • “Vanguard for long term. I prefer for strictly long term and. Or Fidelity. You can’t go wrong if that’s the mindset. I’m buying and holding this for at least 10 years.” (13:24)
  • For information, news, and trading: E*TRADE, Robinhood, M1 Finance are highlighted.
    • “E*TRADE, Robinhood, M1 Finance... they provide even more information and news and other things that is helpful to the user.” (13:42)
  • Vanguard isn’t recommended for active trading; it’s for those “purposely, intently trying to invest.” (13:57)

Notable Quotes & Memorable Moments

• “This is about you. You need to make sure you have your own brokerage account. You're doing your own investing, you're taking your own finances and affairs in your hand.” (03:13)
• “Only way to beat inflation is to actually invest, right? Because that's how your money's actually working for you over the course of time.” (04:52)
• “You gotta provide this information.” (05:38)
• “Let’s say I’m sending $5,000 to my E*TRADE account. That’s going to get there within 30 minutes rather than waiting five to seven days.” (10:50)
• “Don’t think that, okay, I opened up Fidelity. I link it to my Chase bank account. I put $2,000 from Chase into Fidelity, and now I’m invested into the stock market. That’s not quite how it works.” (12:23)
• “Vanguard for long term. I prefer for strictly long term and. Or Fidelity. You can’t go wrong if that’s the mindset.” (13:24)

Timestamps to Key Segments

• [02:32] – Starting your investment journey and basics of brokerage accounts
• [04:27] – What is a stock? Public vs. private companies and why invest
• [05:41] – How to set up and fund a brokerage account
• [10:32] – Hack: speeding up account funding using wire transfers
• [11:35] – Money market accounts and the mistake of not investing after funding
• [13:01] – Comparing brokerages and how to pick the right one for your needs

Conclusion

This Earn Your Leisure episode provides a practical, down-to-earth guide for anyone wanting to buy stocks for the first time. Bilal and Millings emphasize empowering listeners to take control of their financial futures, break down every step in clear language, and arm their audience with the tools (and hacks) needed for smart investing. Whether you’re just planning to open your first account or want to optimize your set-up, this episode gives you the confidence and know-how to get started.