Updated: Apr 2, 2020
Hey gorgeous! My name is Kia. Welcome to my blog! I'm a natural hair enthusiast turned master cosmetologist. On my site, you can expect business tips, hair tips, product reviews and more! Check back periodically or follow me on IG or Youtube to see what I'm up to.
Did you Know you can start investing for FREE!?
Here's how! Story time... so I had a co-worker come to me back in 2015-ish telling me I needed to start investing. He showed me this app he had on his phone... it had over $3k in this account, he assured me I could do the same for myself so I signed up immediately! Then I did nothing with it 😔. I can only imagine how much money I missed out on over the years. However, theres no better time than the present!
In this post I'm going to tell you how I am taking advantage of the current stock market and how you can too! You might be wondering what this mystery app is. It's called Robinhood, It's FREE to use, they give you a FREE stock to start you off, and you don't pay any commission!!! Here's the catch.. You're in complete control of your portfolio.
With investment firms you get help and advice, with Robinhood you don't pay commission because you're to sole manager of your portfolio. All necessary research and judgement calls are completely up to you. To all my BOSSES out there this is perfect for you! Investing is a lot easier than you would expect. It's definitely a gamble but the payout will be worth the risk!
Here are the steps to get started:
Sign up for a free profile
Connect it to your savings account
Receive your first free stock
Watch your money grow
How do you know what stocks to choose?
These are the things I look for in a stock. First, I look at the price... Can I afford it? Second, How has it done historically? Dave Ramsey says he only invests in stocks that have done well over a 10 year period. So I take this into consideration when I choose a stock. Thirdly, I consider the 52 week high and the 52 week low. The 52 week high tells me the stock's potential and what I can look forward to when it increases.
An example would be buying 10 stocks at $1, the 52 week high per stock is $10, when the high hits my $10 stock investment is now worth $100. Lastly, what I consider is what the industry analyst are recommending. One great feature Robbinhood has is it will tell you what a group of analyst are recommending for certain stock. Analyst will say BUY, HOLD, or SELL. You don't have to do what they say but I find these recommendations helpful.
When should you start investing?
Right now is the perfect time to invest in stocks. Companies are a lot affordable and when the market shifts back there's lots of potential for a huge return on investment. This is how wealth is obtained! Imagine buying 1,000 shares of cannabis stock at $1 per share and it goes up to $15 per share next year! You're $1,000 investment just turned into $15,000! Easy money!!!! Do yourself and your family a favor and invest right now! You don't want to be the only one who bought toilet paper instead of stocks and has nothing to show for 2020.
That's all for now! I'll do a follow up on post on my portfolio and dig a little deeper so stay tuned! In the mean time don't miss the gravy train sign up for Robbinhood!
Talk to you soon!