Listen, I went to see “Black Panther” twice! I am considering going a third time to see it in 3 D with my nephew--*Wakanda Forever*. Watching the reported numbers so far--$1 globally the last I checked—is blowing my mind! With “Black Panther” absolutely smashing the box office, sis, you have to rethink investing! Investing is simply another way of supporting the things you love, use, or buy into as a stakeholder, as opposed to a consumer.
I have spoken to several friends and family about investing. The feedback has been very interesting. A majority of the feedback has been that many people are interested in investing, but are not sure how to get started, what kind of information they need to get started. Today, you’re in luck, sis! We are going to hand out some. Sis, sit back and let me tell you some things about investing to get you started on the path!
Why Investing Is Important-This seems like a ‘no brainer’ to me, but we may as well address the elephant in the room. I get a lot of feedback on investing and why is it important. Another question I get often is “is it really that important to invest”. The unanimous answer is, “Yes, sis. It’s that important”! If you Google: invest, you will find several very wordy and lengthy definitions. But, investing is basically giving your money and/or time to something in hopes of receiving something of equal or higher value in return.
Sis, we do this all the time! Every time you make a purchase, spend time watching a TV show or series, or go to an event in your community you are investing. Your investment, whether it is a purchase of an item, patronage of an event, or time spent watching the show lends value to said product, service, or event. Investing in you does the same thing! One of the investment myths that I want to address is that you need a lot of money to get started investing. Granted, if you are looking for big payouts and go for aggressive stocks, you may need lots of money. But Rome wasn’t built in a day, sis! If you’re trying to figure it out and build gradually, you can start investing in your budget. There are several apps available to assist individuals with creating their own investment portfolio.
Acorn v. Stockpile- I have been using the app Stockpile for a little over a year. What I like about Stockpile is that I can purchase as small as 5.00 of stock at a time, no matter what the company. With Stockpile, you have to do your research to make sure that you are picking ‘smart’ stocks. While Stockpile has a "Stock Market 101" section that can help with learning the basics of investing in your future, I use Y! Finance mostly to track stock prices and current news that affects the organization’s stock prices in which I’m interested.
I am currently experimenting with Acorns. I’ve been using it for about 30 days. It is a good way to get started with investing. It does not require the type of research that Stockpile requires. The way Acorn is set up, you determine the type of investor you are—Conservative, Moderate, or Aggressive—and, based on your classification, Acorn picks stocks that fit your style of investment. You basically set the amount with which you want to start the account. You can set up a recurring investment—minimum is 5.00—to go into the account weekly or monthly; and the proceeds are invested in your designated group of stocks.
Coinbase v. Binance- Like most of you, I heard about Bitcoin years ago but shrugged it off as a bubble. Imagine how much I would have made had I invested in Bitcoin when I first heard about it. Bitcoin, along with thousands others, are crytpocurrencies which are digital or virtual currency that is hard to counterfeit and can be stored in cold or paper storage wallets and verified via a ledger-referred to as the blockchain. When it comes to due dilligence, we use websites such as Coinmarketcap and Cointelegraph to stay abreast of the latest crypto news. Last year my investment club and I embarked on our crypto journey with user-friendly Coinbase. Coinbase is the easiest of all the apps we've tried for a true novice. With the ability to purchase Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH) with a bank transfer or credit or debit cards.
For those that are a little more tech savvy, Binance is available through both smartphone app and desktop version. Unlike Coinbase, Binance has hundreds of coins and tokens available to invest. I like both apps as they offer a different, yet pleasant user experience. To be honest with you, Binance is our trading app of choice, having used various exchanges in the past, because of the ease of use, token air-drops, and trading opportunity right at my fingertips.
In conclusion, as with anything, sis, the method of investing, how much you Finances invest, and what you invests in is going to be different depending on you. This is just some info on apps and resources that I have used to get started. The operative words being “get started”. It’s never too late to start investing in your present or future. If you are unsure where to go how to go about it, I strongly urge you to take a look at all options available. For more details visit our Finance page to learn more. More importantly, What’s in your wallet, sis?
Get Your Money, Sis,
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