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I’ve started investing in the stock market 4 years ago back in 2018. I had no idea what I was doing but I started doing it.
Before investing, I made sure we had no bad debt (like credit card debt) and we had an emergency fund in place (at least $1,000).
I’m only investing money that I am comfortable to loose in the stock market just to try it out.
I found an app called Robinhood which allowed me to start investing in the stock market and gave me some knowledge of how to do it.
I did not put in too much money as I didn’t have that much to put in anyway. I was also not constantly putting money in.
I initially bought shares of 2 stocks that I liked and just watched them go up and down in value and held them.
These stocks had dividends that I set up to be reinvested in a process called DRIP (which means Dividend ReInvestment Program from Robinhood I think).
What I know about dividends? Dividend is money that companies give to their shareholders and not all companies give out dividends.
In my experience there are dividends that are given out monthly and there are those that are given quarterly.
In the Robinhood app you can see which companies will have dividends and you can see the annual rate of the dividend if the stock has one.
There were no commissions or fees to trade in the Robinhood app. That was good for me cause I did not loose any money on fees when I bought stock or ETF shares.
As far as the 2 stocks that I initially bought, both has been in the green and earned around $50 as of the time when I’m writing this post.
I have never sold a share of stock yet. I plan on keeping them for a long time probably at least 5 years or more and will continue to buy and hold for now.
As far as scam, I don’t think the stock market is a scam. You just have to understand that stock prices change all the time. Prices can go up and it can also fall down.
Be mindful of what stock or ETF you’re investing in. That is the risk you’re taking with this. Make sure you are investing money you want to risk at first.
As you gain more nerve and more understanding of the pattern of the stock market you can start to risk more money in consistently.
A good way to minimize the risk is to diversify by choosing to buy ETFs that tracks an index or sectors of the market that you think will do good in the future.
I’m now more into buying ETFs than individual stocks and I buy into my favorite ETFs once every month.
This week a lot of the shares I own had gone down in value and that is okay, because I plan to hold on to these shares and I believe they will go back up at some point.
When prices go down (bear market; stocks are red in Robinhood), that means that the stock market is on sale and your favorite stock is at a discount and is a good point to buy in. But that doesn’t mean I always wait for prices to go down when I buy.
I will continue to dollar cost averge in my favorite ETFs and build my assets that way. I don’t want to be timing the market. If I get the chance, I’ll buy in every single month.
The economy has always gone up based on history so in my opinion it is better to buy consistently rather than waiting for the perfect moment to buy in.
I also have bought shares of top companies like Apple and Amazon and I will hold on to these stocks too. If you want to get a free stock, consider joining Robinhood through the link below, link a valid bank account and get that free stock, get that free money.
Robinhood Free Stock
Conclusion: Stock Market A Scam?
I hope I could inspire some of you to start investing in the stock market. It is another way to make money and build wealth.
Buy your favorite diidend stock or ETF every month or every week, depending on how much you have to invest and start earning passively from the dividends.
I’m going for the dividend strategy and I’ll share my dividend stocks and ETFs and how much I have earned on those on another post.
Note: Currently all my ETFs are in the red but I’m still continuing to buy in to these ETFs at lease once a month. 50% of my stock market portfolio is currently on ETFs.
If you think the stock market is a scam please let me know why you think so in the comment box. See you in my next post.
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