How To Buy Nokia Stock (NOK) – Forbes Advisor

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nokia corp (NOK) is one of the oldest public companies in the world. It started as a paper mill in Finland in 1865 and later switched to telecommunications throughout the 20th century. A Nokia phone may have been your first mobile phone in the 1990s or early 2000s.

With a focus on sustainability and climate change, Nokia today manufactures products ranging from mobile phones and laptops to televisions, audio devices and tech accessories. Here’s what you need to know about buying Nokia stock.

How to buy Nokia shares

Before you buy stock in any company, you need to do your research. First, you should choose an investment platform to buy stocks (assuming you don’t already have one). Then you need to understand your long-term investment goals. Finally, you should agree on an initial investment amount.

1. Choose an investment platform. You need an investment platform to buy shares of individual stocks like Nokia. In addition to stocks, they offer you the opportunity to buy a wide range of assets such as bonds, exchange-traded funds (ETFs) and mutual funds. There are different fees and minimum account requirements depending on which type you choose, so check out a few to find the one that works best for you:

  • Full Service Broker. Park your investment decisions in a fully managed account when you want top-level advice. This option usually includes a full range of services — such as estate and retirement planning — as well as investment advice. Fees will likely be highest if you choose to go this route.
  • Robo Advisor. These automated management platforms take care of your investments, often with the option of personal assistance if needed. Some robo-advisors are free, but the best charge annual management fees and provide access to financial advisors.
  • online broker. If you’re interested in taking an active role in managing your investments, an online brokerage account allows for more self-directed access to your portfolio.
  • investment apps. These apps are best for people who are just starting out in investing and want to learn more about markets. Some offer you self-directed investment tools for a more hands-on approach, while others offer services more akin to robo-advisors.
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2. Choose the right account type. Depending on the investment platform you choose, you may have several different account types to choose from. Before you decide which account suits your needs, consider your long-term goals:

  • retirement accounts. Individual Retirement Accounts (IRAs) offer you various tax benefits when investing for retirement. SEP IRAs and traditional IRAs offer tax deductions on your contributions, while Roth IRAs offer tax-free withdrawals. They also have annual contribution limits.
  • Taxable Broker Accounts. These are better options when investing for short-term goals. Your earnings are usually subject to capital gains tax, but there are no annual contribution limits and you can withdraw your money at any time.

3. Choose an investment amount. Most experts say you should invest most of your money in low-cost index funds. This gives you very good diversification instead of only betting on a few individual stocks.

That doesn’t mean you shouldn’t buy individual stocks. But it does suggest that before buying Nokia stock or any other individual stock, you should address other priorities first. This includes creating a budget to ensure you have enough cash on hand each month to pay for essentials.

Before you spend any money buying individual stocks, make sure you’re fully funding your company pension, your emergency fund, and possibly a 529 account for your kids’ education expenses.

Finally, take a look at Nokia’s recent market performance and financial results, which you can find on the investors page. Read the latest reports to better understand how the company has performed in the past to make your decision.

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Nokia has definitely had its share of ups and downs, with some pundits predicting that after years of disappointing results, it could finally be on track to confirm its blue-chip status.

4. Enter an order. After carefully evaluating the above variables and determining that Nokia is the right stock for you, it’s time to place your order.

If you choose a self-directed investment platform, log in and enter the ticker symbol NOK in the search bar along with the number of shares or dollar amount you wish to buy.

You will likely need to choose either a market order, which will be processed immediately at the current price, or a limit order, which will be processed once the stock reaches your set share price.

If you work with a financial advisor who is making purchases on your behalf, tell them that you want to buy Nokia stock, the amount of the purchase, and the type of order you want. Then your advisor can buy NOK for your account.

5. Keep track of your investment. Investing changes over time, and what was once the right choice for your portfolio might not prove right over the long term.

If you’re working with an advisor, be sure to review your Nokia stock performance during your check-ins. If you invest yourself, you should regularly review your progress at Nokia – and the progress of other investments – to ensure that it is moving in the right direction towards your goals.

Retirement accounts often give you a lot more time to grow (depending on your age), but if you’re hoping to make short-term money from your investments, you may need to revalue your Nokia stock more frequently to ensure satisfactory progress.

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How to sell Nokia shares

Selling your Nokia shares is easy. When you work with an advisor, let them know you’re ready to sell your Nokia stock and they can do it for you.

For self managed accounts, log into your account, enter the NOK ticker symbol and the number of shares or dollar amount you wish to sell and select Sell.

Other ways to invest in Nokia

Since buying stock in a single company — and especially a brand new one — is risky, consider investing your money in an index or exchange-traded fund (ETF) that includes Nokia as part of its overall holdings.

Mutual funds are another way to invest in NOK stocks. The top three mutual funds with the largest equity holdings include the T. Rowe Price Growth Stock Fund (PRGFX), the American Funds Growth Fund of America (AGTHX), and the Vanguard Total Stock Market Index Fund (VTSAX).

Mutual funds and ETFs allow you to diversify your portfolio and reduce overall risk while supporting a company whose mission and values ​​you believe in.

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