Does investing in the stock market give you heart palpitations? It’s not my intention but I think it’s worth talking about. Now before we get all carried away, I’m a nurse/life coach, not a financial planner but personally, I do know a thing or two about buying and selling stocks on Wall Street. Not the movie Wolf of Wall Street with our Leo, but the real Wall Street in New York City 😉
I visited Wall Street in the summer of 2012 and it was impressive to see it in person. The buildings are huge with high security and people are bustling everywhere, not to mention the men in suits looking so handsome 😛
Prior to that I became interested in the stock market and how it worked. I didn’t want to be a crazy person checking the papers every day but I wanted my money to start working for me since I was working for it. I read some great books to get me started like “The Lazy Investor” by Derek Foster who is Canada’s youngest retiree at 34 years old. Then I began searching on Google for the stocks I was interested in.
So let’s start there.
What products or services interest you? What do you love? Think about every day products not the wild unknown things. Who makes your toothpaste, Kleenex, baby products, coffee, where do you buy gas, where do you do your banking, which medicines do you take, what kind of phone do you have, which social media site do you love, which fast food restaurant do you like? These are the types of stocks you need to buy and HOLD THEM. Reliable well-known companies are the best because you don’t have to worry. And the stocks that pay dividends to you, even better. Just a hint, all Canadian banks do this and I highly recommend them. A dividend is a payment made to you from the stock profits outside of what your stock actually makes whether the stock market goes up or down. Win-win!! When the market does go down and you lose some money, don’t sell anything. Instead it’s time to buy more because think of it this way, it’s like a sale just went on at your favorite store. 50% off all Apple stocks! Perfect time to stock up on stocks 😉 When the market goes back up, which it always does, you have more stocks which means you make more money.
No need to panic when the market takes a dive.
Once you have your list of preferences, you can consult Google again and find out what the ticker symbol is for each stock. For example, the ticker symbol SBUX represents Starbucks on the NASDAQ. Find out how much each share costs and how many you can afford to buy. Right now Starbucks costs around $60.00 US each so buy 10 if you can and HOLD ON TO THEM. My favorite stock right now is Apple (AAPL). We all know how well the iPhone is doing and all their products. You don’t need to own any of them but if you buy their stock, any time a new phone or product comes out.. cha ching!!
Now you are armed and ready to make an appointment with your financial planner. Knowledge is power so do your homework ahead of time so not to waste time with the planner. They can do the purchasing of your stocks for you. Once you feel comfortable doing some investing, you can try buying your stocks online yourself because it’s much cheaper than having the financial planner doing it for you. This is how I do my investing and it’s working well. Just think basic not complicated when it comes to investing in the stock market.
Your heart will thank you for it and so will your wallet 😀
Much Love ❤