So you’ve heard the stock market is a great investment, but has anyone explained to you how to buy stock? Everyone has heard about how much money can be made on the stock market. The current health and economic crisis has put the economy under a spot light and led to an increased interest in investing. But whether you are interested in Amazon, Tesla, “penny stocks” or index funds, how do you actually get started?
First you need a brokerage account. Have you ever seen one of those movies where some “rich guy” is like “I have to call my stock broker”? Well, that is no longer necessary. Brokerage accounts allow you to buy and sell stocks yourself on your smart phone. You can pick from companies like Robbin Hood, Etrade, Fidelity, and Ameritrade just to name a few. You can even use Cash app to trade on the stock market.
Find the “ticker symbol” for the security you want to trade. The ticker symbol is like a nickname or abbreviation for the company or fund you wish to invest in. For example, Amazon is AMZN. Ford is F. Index funds also have ticker symbols like VFINX which tracks the S&P 500. Ticker symbols can get confusing so make sure you look them up and you are absolutely sure that you are buying the right investment.
Finally, log into your brokerage account and buy the investment you want. Its that simple. Other than that, just make sure you do your home work and understand what you are investing in. Know that investing in the stock market has risk and that you should never use money you can’t afford to lose. Learn everything you can about how investments are valued and how important news can affect the market. If you choose to invest, I wish you great success! To learn more about how to buy stock, follow the affiliate link below.
