Do you wake up thinking you’re in a Groundhog decade? That’s kinda like a Groundhog Day feeling; only the decade keeps repeating itself over and over. Money is tight, the future looks bleak and you don’t know who’s spying on you while reading this. OK, so you took a big hit from the market in the last few years and swore off risky investing. Or maybe you’re a beginner looking for easy ways to get started. Either way, you might feel you don’t have enough money to gamble. So what are you doing with that lottery ticket? How about those extra apps you never use or the expensive dinner you had the other night to make yourself feel rich?
That’s just fun money you need once in a while, you say. With that small chunk of throwaway change, you could be getting wealthy. Things would be the way they were before the big blow threatened your retirement a few years ago or could set you on a path to early retirement if you’re just starting out. And you can do it now with as little as $25! Many growing companies and major corporations offer direct stock purchase plans without the added brokerage fees. Plans include no-load stocks, which don’t have those sneaky financial service costs, from company websites and sites such as Computershare that let you search and buy shares from a list of companies.
In order to become a smart investor you don’t even have to think like one. There are people out there dumber than a bag of hammers socking away profits while you’re still attending job fairs. It doesn’t take much. Just do a little homework. Small, promising businesses let you share in their returns with attractive deals. You like that hot breakfast sandwich from a little-known restaurant? Maybe it’s a publicly traded service that appeals to a broad range of consumers. Use your lunch money to share in the rewards or participate in a dividend reinvestment plan. Buy more stock and make more money!
You could be part owner of The Home Depot with just a $50 monthly investment. Some people think that’s slow going, but I have a friend who’s made a fortune just by investing in major companies, say Coca Cola or Johnson & Johnson, over the years when the price was right. It’s the lazy man’s route, but he’s been lazy and enjoying it since taking early retirement, relaxing ocean side in Daytona Beach, checking out the sights as long as his wife doesn’t notice.
What’s more, buying stocks direct lets you test the waters if you’re a beginner or a little nervous about getting back in the game. Build up your cache and your confidence; then spread your endeavors to riskier ventures for higher returns. You’ll feel good about yourself again. Don’t wake up worrying about the decade repeating itself when you can sleep on the rewards that await you ahead.