Friday, July 26, 2013

How I Got Started In Investing (Part 1)

When I was a teen I felt attracted to the stock market but I didn't have any money to invest and I had no clue about how to invest. Growing up in a humble home I had no access to anyone that could help me I tried to ask teachers but they did not know how and were of little help. This was years ago when stocks traded in fractions and back when online trading was not popular it wouldn't have mattered I did not own a computer.  Not having the right computer skills and guidance I wasted a lot of time reading the wrong books and going to see the wrong people. I did know that blue chip stocks were considered safe and at the time I looked up a few companies to get better acquainted.  I knew I should buy at least 100 shares.  Blue chip stocks were pricey and even 100 shares would cost me about $7K too expensive for me at the time.

While working at a computer lab during my sophomore year in college I met a young math professor who was an investor.  He had made a $30k profit investing in solar power but ended up turning it into a $40k loss. Yikes! He was the only person I had met that actually risked his own money and chose his own stocks through an online brokerage firm.  Finally the right information I needed but now I felt a bit skeptical to invest my money.  How much of it should I put into an account? I had worked so hard for my money and I had never invested in securities I didn't know what to do.

to be continued ...

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