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Everyone get's started at different points of there life, some sooner than others
However you got started whenever you got started, I am just glad you started
For those of you looking to begin, let's get started!
"Beginning Your Journey"
THREAD
However you got started whenever you got started, I am just glad you started
For those of you looking to begin, let's get started!
"Beginning Your Journey"
THREAD
1/
"Invest in YOURSELF"
To start your journey, the first thing I would encourage you do is make the ultimate investment
Investing in courses and read books to familiarize yourself with the stock market
"Invest in YOURSELF"
To start your journey, the first thing I would encourage you do is make the ultimate investment
Investing in courses and read books to familiarize yourself with the stock market
2/
Understand:
- How the market works
- What the major averages are
- Key terms such as EPS, Market Cap, Payout Ratio, etc
- Valuation ratios
Understand:
- How the market works
- What the major averages are
- Key terms such as EPS, Market Cap, Payout Ratio, etc
- Valuation ratios
3/
"EMERGENCY Fund"
As you continue to learn and educate yourself, ensure you have an EMERGENCY fund saved up
This is 6-12mo of expenses that cover you for a rainy day
- Health issues
- Job loss
- Property repairs
etc
"EMERGENCY Fund"
As you continue to learn and educate yourself, ensure you have an EMERGENCY fund saved up
This is 6-12mo of expenses that cover you for a rainy day
- Health issues
- Job loss
- Property repairs
etc
4/
"The Brokerage Account"
Now it is time to open that brokerage account
There are plenty to choose from
I use Schwab & Fidelity, and both work great for me
Others include:
- TD Ameritrade
- Robinhood
- Etrade
To name a few
"The Brokerage Account"
Now it is time to open that brokerage account
There are plenty to choose from
I use Schwab & Fidelity, and both work great for me
Others include:
- TD Ameritrade
- Robinhood
- Etrade
To name a few
5/
Once that account is open and ready to operate it is time to transfer your funds
Only transfer what you are comfortable investing
If you want to start slow, that is fine, but once you get more familiar you will become even more excited about investing
Once that account is open and ready to operate it is time to transfer your funds
Only transfer what you are comfortable investing
If you want to start slow, that is fine, but once you get more familiar you will become even more excited about investing
6/
"The First Investment"
I always recommend the first investment be in an ETF or Index Fund that tracks the broader market
Something like $IVV $VOO or $SPY is great because it is low cost and mirrors the S&P 500
ETFs are a bundle of numerous stocks
"The First Investment"
I always recommend the first investment be in an ETF or Index Fund that tracks the broader market
Something like $IVV $VOO or $SPY is great because it is low cost and mirrors the S&P 500
ETFs are a bundle of numerous stocks
7/
So right from the start, an ETF allows you to
- Diversify your portfolio
- Track the broader market
- Lower risk
- Build a foundation for your portfolio
So right from the start, an ETF allows you to
- Diversify your portfolio
- Track the broader market
- Lower risk
- Build a foundation for your portfolio
8/
"The Next Investments"
After you build a solid base in ETFs, then you may be looking to ad some individual stocks
Stock picking can be exciting, but it does not come without added risks
I find it thrilling investing in individual companies, companies I can relate to
"The Next Investments"
After you build a solid base in ETFs, then you may be looking to ad some individual stocks
Stock picking can be exciting, but it does not come without added risks
I find it thrilling investing in individual companies, companies I can relate to
9/
With an ETF you have numerous stocks, but individual stocks you are banking on their performance alone
If 1 or 2 stocks in the ETF are down, there are tons of others to pick them up to keep the ETF moving higher
Add dividend stocks that will grow your wealth over time
With an ETF you have numerous stocks, but individual stocks you are banking on their performance alone
If 1 or 2 stocks in the ETF are down, there are tons of others to pick them up to keep the ETF moving higher
Add dividend stocks that will grow your wealth over time
10/
"Max Out Retirement Accounts"
If you do not already have an IRA, open one and contribute the max contribution each year
If you have a 401(k) company match, ensure you max that out, that is FREE Money
"Max Out Retirement Accounts"
If you do not already have an IRA, open one and contribute the max contribution each year
If you have a 401(k) company match, ensure you max that out, that is FREE Money
11/
"Remain Patient"
Investing is about remaining patient
Consistently contribute
Reinvest Dividends
Watch your wealth COMPOUND and grow!
"Remain Patient"
Investing is about remaining patient
Consistently contribute
Reinvest Dividends
Watch your wealth COMPOUND and grow!
12/
If you want to learn more about dividend stocks and how I have built a dividend income stream over $10K, check out my eBook on Dividend Investing https://gum.co/zoUNO
If you want to learn more about dividend stocks and how I have built a dividend income stream over $10K, check out my eBook on Dividend Investing https://gum.co/zoUNO
