👋🏾, Sanjay Here. Since starting to invest in building my version of generational wealth, I must say that apps like Wealthsimple trade made the barrier for entry extremely easy. You can invest in stocks and ETFs to grow your wealth and earn passive income. This plays very well into the retirement plans of retirees. The biggest problem is that most people fear investing in riskier assets, but the market is reasonably risky. In fact, if you are smart with your money, you can earn 7-times more money as an investor than you would as a day trader. The idea is to take calculated risks in the stock market that scale your returns over time, resulting in higher lifetime earning power. Anyone can bump into better opportunities than others. That is one of the reasons we have a free market.
How to start investing?
All you need is a bit of knowledge and the willingness to continue to learn, plus at least $100 and your computer. Everything else can be dropped. All it takes is some time and determination.
Do you need a lot of money to get started?
For the average person, investing in the stock market can be complicated. You need to learn how much to invest and what to buy. Will you get rich? What if you make bad investment decisions? How do you know you are investing well? In today's blog post, I'm going to break down the basics and make it simple for anyone to get started.
The stock market is a wildly popular way to grow wealth, but it can be hard to get started. You'll need to ask yourself lots of questions: What are my Budget / Spending Limits? What type of stocks should I buy? How much time do I want to put into it? The markets are large, so the answers to these questions can be complex. I've written a step-by-step guide to getting started with a $500 investment in Facebook stock so you can get started today or decide when you need a more aggressive strategy.
Can I start investing with $100.00?
Investing for the first time can feel intimidating, especially when you're starting out with a small amount of money. To help you buy a home or a college fund with confidence, we've put together the ultimate list of the top 10 Robo-advisors for buying education and a home. After reading this list, if you are still unsure which type of investment is right for you, you can ask your financial advisor this fundamental question. For my short-term and long-term goals, which accounts for TFSA trading, RRSP trading, or a Cash trading account?
What can I get with $1000.00?
A lifetime of savings, building an investment portfolio, and putting it all into a single portfolio can take years if you don't know where to start. Traditional financial planners over-promise and under-deliver. Others don't have the technology or tools to seriously compete with automated trading and Robo-advisors. So why not focus on what you do best, your instincts, and what works best for you? I recommend using Wealthsimple Trade as your foundation to build the portfolio that best suits your financial goal!
Starting is always better than not starting at all. Money should never sleep. Taking the time to conduct the research to buy shares in companies you know is tried and true; is how The Hustle Works.
Let's get sh*t done, together!
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