How to Start Investing in Stocks Today!

Have you ever wanted to start investing in stocks? Well today is your lucky day! :) In this post I'm going to show you how to get started investing fast! Even better, I'm going to give you a free share of stock to get you started! Let's get started right now!

 How to Start Investing in Stocks Today

How to Start Investing in Stocks Today

Do you want to get started in stock investing? Have you started yet? If not, what’s holding you back?

Sometimes just getting started is the hardest part of anything.

When I was just out of high school I met a full time stock investor for the first time. I was in awe of his success and I knew I wanted to eventually do the same thing.

You know what I did? Nothing…

Yep, I’m guilty of procrastinating. I thought about it and dreamt of the possibilities, but didn’t take action.

Eventually I did and I was so glad that I finally did. I even thought, why didn’t I start sooner?

Don’t make the same mistake as me. There is nothing holding you back from getting started other than fear.

You know what is on the other side of that fear? Nothing. There really is nothing to be afraid of.

So, I’m going to get you started right now. As in, TODAY. Yes, you can get started today.

I’m going to hold your hand through that fear and procrastination to get you started today. 

Once you’ve started, you’ll be so glad you did. On top of that, you’re going to get 1 share of stock to begin with totally free!

Are you ready to get started? I thought so. Let’s get started.

STEP 1 - DECIDE HOW MUCH YOU ARE GOING TO INVEST IN STOCKS

First off, you need to determine how much you are going to invest. 

I suggest starting off small. $100 - $500 is a good starting point.

I wouldn’t go crazy and jump off the cliff by depositing $10,000. Don’t go mortgaging a house or borrowing money to invest. That’s not a good idea…

There is a learning curve in everything and that includes stock investing. Start with a small number that you could afford to lose.

I’m not saying you are going to lose that money, but that helps you to think about how much you should be investing. You’ll most likely make money, but you have to be cautious.

Use your own money, don’t borrow money. This is your training wheels phase and you don’t want to be using other peoples money to learn.

I highly suggest settling in on a number between $100 and $500 before you go any further.

If you feel like the world would end if you lost $100 then it’s probably not a good time to start stock investing. Wait until you’re in a better financial position.

Lock in on your number. How much are you going to invest?

STEP 2 - DOWNLOAD STOCK INVESTING APP ROBINHOOD ON YOUR PHONE

 Robinhood Screenshot

Robinhood Screenshot

I love Robinhood. It’s by far my favorite way to invest in stocks. I’ve used other accounts in the past like Scottrade and Ameritrade, but nothing has been easier that Robinhood.

Best of all, Robinhood charges no fees to buy and sell stocks!

A nice little bonus is the interface that is both easy to use and a joy to look at. You’ll be buying and selling stocks in a few swipes in no time.

Download Robinhood here.

STEP 3 - CREATE AN ACCOUNT IN ROBINHOOD

Once you open up your Robinhood app you’ll need to create your account and get signed up.

You’ll have to provide some basic information to verify your identity and also to get you bank account connected so you can transfer in your funds.

Robinhood is a member of SIPC so your funds are protected up to $500,000. They also use the  latest in security to keep your account protected.

In other words, you don’t have to worry, Robinhood is secure.

STEP 4 - GET YOUR FREE SHARE OF STOCK IN ROBINHOOD

When you sign up through this link you will you will also get 1 free stock to get you started off! 

You have the following chances to win a share of stock:

    •    Have a 1 in 90 chance of getting a share of Facebook, Apple, or Microsoft

    •    Have a 1 in 90 chance of getting a share of Ford, Sprint, or Snapchat

    •    Have a 100% chance of getting a free share of stock

That’s a great way to get started in stocks!

STEP 5 - CREATE YOUR STOCK WATCHLIST IN ROBINHOOD

Now you’re ready to roll! 

You’ve got your very first stock for free by the way. Now it’s time to create a list of potential stock buys.

I recommend starting out with 5 stocks.

You ever heard of fantasy football? Football fans create a dream team of their favorite players.

Think of your stock watchlist like that. Create a dream team of companies you would like to own.

If you are starting with $100, you’ll have to find 5 that are $20 or less. If you are starting $500, you can find 5 stocks worth up to $100 each.

Have fun with this. Think about products and services you love and the companies who provide them. Are these potential companies to look at?

Type in the name of the company in Robinhood and then press the plus sign to add it to your watchlist.

Keep in mind, this doesn’t buy the stocks. It’s just creating a list so you can keep an eye on those stocks. You’ll get news on them and start to learn more just by watching their performance.

Look for 5 stocks in 5 different sectors as potential buys.

By sectors I mean, industries. For example, here are 5 different industries:

  • Technology
  • Financials
  • Utilities
  • Healthcare
  • Consumer

There is a lot to picking stocks that will perform well, but for now you are just getting your feet wet and you have to start somewhere.

I’ll be taking a lot about how to pick winning stocks in upcoming posts.

STEP 6 - BUY YOUR FIRST SHARE OF STOCK IN ROBINHOOD

 Robinhood Screenshot

Robinhood Screenshot

You’ve made it to the final step. Now’s the moment you’ve been waiting for. It’s time to buy your first stock.

This is actually the easy part, because you’ve already done your stock picking in Step 5. Now you just take the final step.

To keep this simple, we’ll just do a market buy. I’ll talk about other stock buying methods in the future.

Pull up the stock on your watchlist that you want to buy.

  1. Click on Buy.
  2. Choose 1 share and click on Review.
  3. Finalize your order.

That’s it! It’s that simple.

You’ll now see the stock in your stock list and you can now follow the value. There’s no fee’s,  no calling anyone. 

Technology has made stock buying so simple!

STEP 7 - HAVE FUN!

Once you have your stocks, just have fun! 

Stock values go up and down in the short term, but solid companies continue going up well into the future.

Don’t get discouraged if it goes down for a bit. Most of all, don’t stress about it. You purchased only enough stock that it won’t hurt you if you were to lose it, even though you most likely won’t.

This is your first steps in a journey. This is a time to learn and make mistakes. Don’t feel any pressure.

Read up on your companies and review the statistics. We’ll talk more about those soon! Have fun!

ACTION STEPS

  1. DECIDE HOW MUCH YOU ARE GOING TO INVEST IN STOCKS
  2. DOWNLOAD STOCK INVESTING APP ROBINHOOD ON YOUR PHONE
  3. CREATE AN ACCOUNT IN ROBINHOOD
  4. GET YOUR FREE SHARE OF STOCK IN ROBINHOOD
  5. CREATE YOUR STOCK WATCHLIST IN ROBINHOOD
  6. BUY YOUR FIRST SHARE OF STOCK IN ROBINHOOD
  7. HAVE FUN!

David-shepherd

DAVID SHEPHERD

CREATOR OF LET'S AUTOMATE YOUR MONEY


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