There’s something mysterious and exciting about the world of investing. We often hear of investment moguls such as Warren Buffett and Mark Cuban. The veterans assure that if done right, stocks can help you make money in your sleep. I decided to give stocks and investing a chance by researching the meaning of Wall Street jargon such as dividends, profit and percentages.
I decided to use a mobile application as my way of buying stocks. There are plenty of options when deciding how to buy them. One can choose from apps such as Acorns, Stash and Robin Hood. I went with a mobile version because I wanted to check my stocks on the go. I started small, just $27 worth of stocks. I saw no improvement in the first three days. On my fifth day, I had made a profit of 5 cents; in essence, my investment grew from $27 to $27.05. Even though I had made about a 0.18 percent profit, I felt like a genius. I had made a nickel out of thin air.
I began to invest $10 a week into several companies. I developed a yearning for Chinese firms. They seemed strong and reliable. Right after I invested in them, a devaluation of the Chinese currency caused all these companies to lose value. My investments dropped to -5 percent. I was losing money. Even though I was worried, I remembered the advice: “Buy low, sell high.” I decided to ignore the negativity and I kept on investing in these firms.
After the daily ups and downs, my investments gained value. Today, my profits are at 8.04 percent. This is not much considering I have not invested more than $150. However, it is better than just having that sum in the bank or under a mattress.
These are my takeaways from investing:
–Unless you invest millions or discover the next Bitcoin, you will not become rich overnight through stocks.
–Patience is key. It will take some time before you make a profit.
–Your money will multiply faster in stocks than in most savings accounts.
Investing in stocks is an exciting and slightly risky way of increasing your income. I will definitely keep investing and learning more about stocks. If you’re curious about stocks, I invite you to give them a try. You will learn about budgeting and you might even make a couple of quarters while you nap.
