: They enter the ticker symbol and choose an order type : Market Order : Buys immediately at the current price.

: They are relieved to find that online trades for U.S.-listed stocks and ETFs are commission-free ($0) for most retail customers.

: The investor ensures they have a Vanguard Brokerage Account . If they only had an old mutual-fund-only account, they would need to upgrade it to enable brokerage "trading permissions".

: Once the trade is executed, it takes two business days (T+2) for the trade to officially settle. Key Considerations Investment fees & costs | Vanguard

: Before buying, they must move money into their Settlement Fund (typically a money market fund like the Vanguard Federal Money Market Fund ). This "cash container" holds the money used to pay for the shares.