We live in a time where if you have a few bucks and an internet connection, you have direct access to the stock market. Although this may not seem like a miracle in 2017, no one could have imagined this would be possible decades ago. At one time, it was mostly savvy investors and Wall Street stockbrokers who enjoyed the benefits of stock investing, and it was difficult for people outside of that world to get involved. Now with the internet, anyone can partake in online stock investing!
So if you’re reading this because you want to get into stock investing, you’ve come to the right place. But hold your horses there, champ. You may be coming to this thinking that only experts and rich people will thrive at investing. That’s not true. Let’s pump up your confidence by clearing away a couple misconceptions.
Two Online Stock Investing Misconceptions
“I’m too broke for investing”
This just simply isn’t true for almost anyone saying it. The idea that someone needs to be very wealthy before beginning stock investing is totally false. The truth is that it only takes a few bucks, an internet connection, and a will to learn, to get started with online stock investing. For Stockpile, if you have $5, you are ready to invest. Don’t let the lack of millions in your bank account deter you.
“Stock investing is too complicated”
Like most things in life, investing can be too complicated if you dive too deep at the beginning. We don’t expect anyone starting off to be as qualified as an investment analyst. The great part is that you don’t need to be! You just have to be willing to learn on the job. Over time, you’ll learn more about investing as you educate yourself with different resources.
Alright, so we have some of the misconceptions out of the way. You’re confident that you can invest a few bucks into the next big company like Google. Now what?
Hit The Books
Depending on your goals, you might want to go down the research route when it comes to online stock investing (or investing in general). If you want to take the research-driven approach, there are a multitude of great resources online where you can learn about the intricacies of stock investing and how to make sure you’re following best practices.
Some awesome resources out there are:
Hit The Stocks
That said, another way to get started is to… just start investing. Although you may not be investing strategically at the beginning, this is the fastest way to learn the basic terms and concepts of stock investing. As long as you’re actively educating yourself as you’re investing, you’ll get better, and your portfolio will improve over time.
Remember Some Fundamental Best Practices
Everyone has their own approach, but here are a few tried and true rules for new investors.
There’s a reason Stockpile lets you start with just a few bucks. Start small and ease your way into the online stock investing world. As time goes on, you’ll get smarter, recognize trends quicker, and may be able to make more educated investment decisions with a higher dollar amount. Besides, if you do make mistakes in the beginning, it’s better to lose $25 than $2,500.
Diversify Your Investments
Due to the risks inherent in stock investing, you may not want to put all your eggs in one basket. Try to invest in a wide variety of stocks, so you are diversified. This mitigates risk, and is a very common strategy on Wall Street.
Keep Your Emotions Stable
The stocks you buy will go up one day and plummet the next. The stock market is a roller coaster, and there’s a chance you could lose money. Still, on a down day, this isn’t when you take all your money out due to fear. This isn’t when you give up and go to bed at 4:00 pm. Play the long game, don’t make emotionally charged decisions, and know that it’s going to be a wild ride. Just know that on a macro level, stocks go up, not down.
Okay, you’ve done your research, you know the best practices, now you’re ready to get started! Is it easy to start investing? You’re dang right it is.
How Easy Is It To Invest?
With Stockpile, it only takes a few minutes to start investing! Head over to our home page, make an account, and confirm your email address. Once you’ve made an account, you can view all the available stocks to invest in on your dashboard.
Browse the different stocks, and if you want to look at how the stock is doing, just click one of the logos and you can view a company’s numbers.
For example, although Snap hasn’t been doing too well the past few months, let’s say you decide to invest in hopes that the stock becomes more valuable in the future. You’d just hit “Pick stock,” pick the amount you want to invest, and then confirm. You, my friend, just bought a piece of Snap, and it was THAT easy.
Investing doesn’t have to be this mysterious activity that seems untouchable. Anyone can do it. As long as you hit the books, hit the stocks, and repeat that process, you’re going to be a very successful investor one day. Take it slow, keep learning, and when you’re a famous investor some day, remember the little people who taught you the basics in the beginning.
Good luck! 🙂