Investing: Something I knew I would always end up doing — it was just a matter of when. And based on the logic of investing, it was time I started at 24.
(Disclosure: Robinhood offers a referral program and both of us earn a free stock if you sign-up.)
It’s kinda hilarious to think about it, but before I was even 10 years old my Grandpa would set up a blank sheet and explain dividends, the DOW, and NASDAQ to me and my younger brother.
While I don’t remember much from those specific lessons, I’ll never forget the saying “money is a tool to make money.”
Why not put money to work for me?
I’ve reached an age where it would only be a disadvantage for me if I continued to wait.
Since I’ve started to invest with Robinhood, the reality of how it all works is hitting me and I’m happy I finally got started.
If you’re interested in investing, aren’t sure where to start, or want to invest with convenience, you’ll find the Robinhood app to be as useful as I have.
Although I started back in October, it’s a part of my new years goals to continue growing financially through investing.
With that said, I’m going to tell you more why I (as a frugal millennial), started to invest with Robinhood.
It’s completely free with no monthly or trading fees!
(note: app only available in US & Australia)
If you’ve been wanting to invest, stop putting it off and just start.
If I inspire you to get started, earn your first free stock and click this link to get started investing today!
Stock prices range from the pennies to hundreds of dollars, so you can invest what you can afford.
I only started with $50, but you could even invest $10.
Why Did I Chose To Invest with Robinhood?
Easy to Figure Out
Robinhood offers an easy sign-up that takes you right to where you need to be. It’s also accessible on both mobile and laptop devices if you want more than just a phone app to use.
The simple layout and construction of the app makes getting into investing a smooth experience. Easy to navigate, you’ll quickly understand how to search and view stocks, buy them, sell them, and read your financial portfolio.
Good to Start Learning
One thing I love most about Robinhood is its simplicity.
On the app I’ve been able to introduce myself to reading markets and understanding all the lingo and numbers behind them.
I get to see the stocks’ prices changing, their 52-week highs and lows, news related to them, and I can choose to buy or follow stocks as I’d like.
Another aspect about Robinhood that makes it a great app to start investing with is the fact it’s not overwhelming.
I can check the app as often as I want, trade stocks without paying fees, buy stocks with close to no money, and figure it out as I go without stress.
Makes Investing More Accessible
I’ve already said this, but it’s free to invest with Robinhood.
As a young, soon-to-be not broke, recent college grad, Robinhood gives incentive to people like to me to invest.
While today I’m aiming to make larger returns, when I started it was awesome to turn change without a commission fee.
Literally seeing money made off money made me want to invest more, and I since then have.
It would be great to have enough money that a trading fees doesn’t matter, but with where I am now, Robinhood makes investing easily accessible to me.
You don’t need to be rich to invest, you just need a bank account (and to qualify via citizenship).
How To Get Started
Click here to get started and follow the directions to set-up your Robinhood account. A free stock is included so you got nothing to lose but time to invest.
2. Browse Stocks & Buy
In the app, it’s easy to search for stocks. You can search by name, category, price, and popularity, and then add the ones that interest you to your homepage watchlist.
When buying, be sure to view the data and consider what you want from your investment.
One mistake I made was not reading data enough and buying when stocks started to dip, losing me money that I’m waiting to earn back. The 52-week highs and lows are useful when choosing whether or not it’s a good time to buy, especially as a beginner.
Also, research the stocks online — the graphs in the app are useful but seeking more in-depth review online is better.
When you buy, invest what you can afford. What makes Robinhood great is the potential to make money without having to invest beyond your financial means.
When I first started, I put in $50, buying various stocks ranging from $1 to $10, but you could add more or less. It’s all about what suits your financial situation and investing goals.
3. Play the Waiting Game
That’s about it. Just wait.
You can check your stocks as little or as often as you’d like.
Personally, I check them a few times a week because it’s interesting to watch my money change. I feel I’m more aware of how the markets act when I regularly see them.
Thinking about whether a stock will be short or long-term is something to consider as you buy and wait around.
For example, if you invest in a stock that’s five dollars and it rises to $10, you can sell it and then reinvest elsewhere or keep the money you made. But if that stock has potential to grow over time, holding onto it may be a better option.
While you wait, learn more about stocks, the market, and all the lingo — then you can better make investing decisions as time goes on.
Don’t Put It Off
If you’re like me and are young, kinda broke, and don’t have a lot of money to start investing, you can get started with Robinhood with peace of mind. If you want to invest, putting it off doesn’t help in relation to long-term financial growth.
Also, the broke millennial excuse doesn’t work with Robinhood.
After contemplating investing for years, Robinhood made it easy for me to start immediately.
Just give it a shot– I’m certain you’ll be happy you did.
If you haven’t yet, grab your free stock below and let me know how it goes in the comment section!