The stock market can be a wild ride, and super confusing.
Just for an example, what are we supposed to learn from the recent case involving GameStop?
The chain of video game stores has been struggling for a long time.
But in January 2021, the companys stock price skyrocketed up by 1,500%.
Then it plunged back down to earth.
Some investors made a fortune.
Others lost a fortune.
What should we take away from this?
We asked Robin Hartill, a certified financial planner and a senior writer at The Penny Hoarder.
Heres what she says:
1.
Ask anyone whos built wealth and wasnt born rich how they did it.
They probably wont tell you a story about taking short positions or buying $2 stocks, Hartill says.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you could easily return later.
Well keep it updated as offers changes or expire.
Start Early Buy and Hold
So how did those investors build wealth?
Most likely, theyll tell you that they started investing early, Hartill says.
Theyll stress consistency and long-term investing over day trading.
In other words, dont have a go at time the market.
Just start investing and keep investing over the long term.
Thats how you build wealth.
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Dont know where to start?
With an app calledStash, you’re able to get started with as little as $1.
- you could invest in pieces of well-known companies, such as Amazon, Google, Apple and more.
But it makes it simple by breaking them down into categories based on your personal goals.
Want to invest conservatively right now?
Want to dip in with moderate or aggressive risk?
Do what you feel.
It takes two minutes tosign up, and its totally secure.
Subscription plans start at $1 a month.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
Hes a long-term investor whos never owned any GameStop stock.
*For Securities priced over $1,000, purchase of fractional shares starts at $0.05.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
