The one thing that I have learned on my journey to build wealth is that investing my money is the most important thing I can do instead of only saving. In this short post, I’ll share what I learned about investing in 3 easy steps.
Create an Online Brokerage Account
In 2017, I applied for a brokerage account with Fidelity and was denied. I didn’t make enough money or have enough to invest at the time but I was determined to figure this thing out.
I did my research on an account that I could open with a small amount of money. Here’s what I found.
Robinhood, which is actually perfect for beginners, has no minimum amount and you can start for free.
Other trading platforms you can do research on are
TD Ameritrade: Think or Swim
Understand How To Purchase A Stock
The first thing I wanted to do was buy Apple stock. I literally cannot explain to you how excited I was. I felt like wow, I’m actually a stock girly now. I was so happy with my one little stock, it’s truly a moment I will never forget.
Buying the stock was pretty straightforward. I did everything on my phone using the app. It only took 1 minute, surprisingly.
I chose the stock I wanted and entered the quantity of 1. They verified I wanted to buy one stock and showed me the estimated cost.
I swiped up and the order went through. Viola! I’m now a shareholder of THEE Apple Stock, okay!
Watch me purchase stocks live if you’d like to see an example of how to buy stocks on your own.
Know How To Sell A Stock
When I started to make money from my stocks, I was ready to cash out BUT before I did that, I needed to understand how.
It is as simple and quick as buying a stock, but it’s not always a good idea to sell your stock the first time you make money from it. Again, do your research and decide what’s best for you.
Watch me sell stocks live if you’d like to see an example of how to sell stocks on your own.
Understand When To Purchase A Stock
The stock market opens at 9:30 am EST/ 6:30 am PST.
The market closes at 4pm EST and 1pm EST.
There are certain business cycles that companies go through and it’s often pushed for investors to buy stocks when they are lower priced.
If you want a much better understanding of investing, I created a 20 minute workshop My First Investment: A Beginner's Guide to the Stock Market to walk you through everything you need to get started. This is a no-fluff session that takes you from nervous about investing to "talking stocks" as my students proudly say!
Disclaimer: This information is solely for educational purposes. No investment advice or recommendations are made in this workshop. Always contact your financial advisor for investment advice exclusive to your situation.