How to Start Investing – From the Very Beginning

Everything you need to know from setting up an account to maneuvering around the applications.

Let’s Start with Choosing an Investment Platform

The anticipation of starting something like this is always the most daunting part. That is why I am here to help you understand the basic information by presenting some of the best options out there for new investors. First, however, I have to say that I am not a finical advisor. This is not official financial advice, and you should consult a professional about the risks of investing before doing so. With that out of the way, let us dive into each platform!

Acorns

This platform is my personal favorite for a lot of reasons. It helps you invest your spare change, save money for later, and helps teach you more about investing all at the same time. If you are a rookie jumping into this game, Acorns is probably where you should start. This application comes with pre-set portfolios, and with the help of Nobel Laureate, Dr. Harry Markowitz, the work is practically done for you. When you set up your account you will be asked how much risk you would like this account to invest in. You can choose from the least risky (Conservative) to the riskiest (Aggressive). It is up for you to decide which works best for your goals and comfort level. Then all you have to do is start depositing money into your acorns account and it will automatically invest it into the portfolio you choose! Simple and easy! Like I said above, this type of investing account is for beginners and can be a great way to watch little amounts of money grow and help you learn more about the fundamentals of investing. The link below is a referral link so when you set up your account through this link, you will get 5 dollars automatically for setting up an account.

Acorns Referral Link: https://www.acorns.com/invite/5MS6DM

Robinhood

Robinhood was created to allow investors to use a platform that has zero-commission fees. This means whenever you place a trade to buy/sell a stock, there is no fee you have to pay like you would at a traditional brokerage. Millions of people have gotten on this platform and I can say from my daily use of the app that I love it as well. Additionally, this platform is simple and easy to use. When you sign up you are then able to deposit money and instantly start buying stocks of your choice. You can use the search bar to find companies like Amazon and Microsoft. Once you search one of these companies to buy stock, you can press the “Buy” button and just like that you will own shares of that company! If you have further questions about this platform, there is a link provided down below. The great thing about this referral program is when you sign up through my link you will get a free stock ranging in price from $5 to $250! This will then give you a good chance to play around with the app without even having to put any money down upfront until you get comfortable.

Robinhood Referral Link: http://join.robinhood.com/griffip18

Coinbase

This final platform is great because, as you can tell from the title, it is a cryptocurrency trading platform. This is for my subscribers that already have a handle on investing in the stock market and want to expand their investing to Bitcoin, Ethereum, and a bunch more. This works just like Robinhood where you simply need to set up an account and start buying whatever type of cryptocurrency you like. When investing, a tip from me is to look into diversifying your portfolio. The stock market is not the place to put all your eggs in one basket. Obviously, I don’t work on Wall Street, but I would guess they would tell you the same thing. Spread your money out and you will be happy you did! With this referral link you will get $10 once you set up an account and buy $100 worth of any type of cryptocurrency.

Coinbase Referral Link: https://www.coinbase.com/join/prock_m

In conclusion, I want to get the conversation started about investing. I think it is one of the most under-discussed topics in schools, when some would consider it a life skill. For my followers in their early twenties, now is the time to learn about this stuff so you can let your money start working for you now, rather than later, when life gets in the way and you don’t have an extra penny to invest. Understanding finances and financial literacy will help you grow your wealth and assets without having to much more. So, if you take anything from this newsletter, I want it to be a curiosity to learn more about finances, investing, budgeting, and everything in between!

If you have any questions about investing or these platforms, do not hesitate to reach out!