There’s a high level of frustration when it comes to investing.
It’s not easy to know where to begin. I totally get it.
If you find yourself overwhelmed, don’t worry, you’re not alone!
Investing is a sensitive topic for anyone who feels they’re late to the game. It’s also frustrating when you find friends or family members bragging about their own successes. And here you are, sitting on the sidelines feeling hopeless, as if you’re already too late to the game. Why even start? Procrastination has already become the enemy. It’s not even worth it. It takes too much time, and it’s too complex anyway.
NO. NOT ANYMORE!!!!!!!
STOP.
TAKE ACTION AND DO SOMETHING!!!
If you’re reading this, you’re probably ready to take charge of investing on your own. Good! You’re in great company because it’s my passion to help you get started and to help guide you on how to be successful with investing.
The first step is to take action. Don’t like to use your computer to do this work? Don’t worry. You can do it from your phone these days. Don’t like to use your phone?
Okay. You can go now. How are you even reading this blog?
Just kidding. Please continue reading. Again, I’m here to help, so let’s get started.
There are 3 very easy steps to get started with investing:
- Open up an investment account
- Fund the investment account from a checking or savings account
- Buy some stocks
That’s it!
I’m not going to elaborate too much on these three steps, because it really isn’t that difficult. The point of this blog article to help inspire people to start taking action. Once you get to step 3, you can start asking questions and figuring things out on your own. It really isn’t very difficult.
For step 1: Open an investment account
I would suggest an app called Robinhood, which you can download for free. There aren’t any commission fees when you buy or sell a stock! “What is a commission fee?”, you may ask. It’s simple! It’s the fee that the broker (that would be the owner of the investment account: aka Robinhood) would charge you to buy a stock. Yes. That is right. Brokers will typically charge you a small fee to be able to buy a stock. So, not only are you paying money to buy a stock, but you are paying the broker to be able to buy that stock! Not with Robinhood. Other options for step 1 include Fidelity, M1 Finance, TD Ameritrade, etc. I have some other blog posts about this topic for easy selection, although they are quite old, you should still be able to get some valuable information out of them. Let’s make this easy though. Just open up an account with RobinHood. Done.
For step 2, Fund the account.
It’s simple. Just link your checking or savings account and do an ACH transfer. Don’t do a wire transfer since it costs money. ACH transfers are free. You can’t expect this to take place instantaneously though. These transfers can take a couple of days.
Step 3: Buy your stock(s)!
Don’t let this be a daunting task. NO MORE PROCRASTINATING!! Make it fun! Just don’t put all of your eggs in one basket. To start, all of your eggs (that means dollars, folks!) will go into one stock, so technically it will be in one basket (that means one stock!). There are a lot of tips here, but let’s just keep it simple. Buy it and let it sit.
Good. You’re finally part of the club. No more sitting on the sidelines – feels good, right?
