October 16, 2021
5
 min read

How to Start Investing in the Stock Market with $1,000

Investing in the stock market can feel like an uphill battle. We are here to help.

Investing in the stock market can feel like an uphill battle. We speak with PersonaFi users every day who are asking - "Do I need to be wealthy to invest in the stock market?" The answer is simple; anyone can invest. 

There is a good chance you're reading this article with an Apple product or at Starbucks, so remember this - Apple was founded in a garage with the proceeds from the sale of Steve Jobs Volkswagon bus, and Steve Wozniak sold his calculator! Starbucks has a similar story - each founder invested $1,350 of their own money into the first Starbucks location! My friends, there isn't a dollar value necessary to start your investing journey; the essential factor is time. Let's get started!


Financial Roadmap


Understanding the "why" behind your investing strategy will help you know when you've arrived. Ask yourself a few questions:


What am I investing towards? It might be retirement, your children's education, an emergency fund, or heck, a vacation in the Bahamas. 


What will it take to achieve my goal? Let's say you're investing towards retirement and want to have a million dollars saved. What are the actionable steps you can use to build off your first thousand dollar investment? It gets easier over time; stick with it!


Who are my financial mentors? Having a partner or a group of people you can learn and grow with helps build your confidence and trust in your investing IQ.


So when do we start? Today! There are plenty of financial reasons why starting as soon as possible makes sense, such as compounding interest and the time value of money. At a more fundamental level, there is a reason why people make the same New Year resolutions annually; it's because the busyness of life gets in our way. Think about the last time you said, "I'll get to it later," did you ever get to it? 


How will I achieve my goals?


Now that the roadmap is built, the question becomes, where do I start?


Selecting a brokerage to invest with: Below are a few of Personafi's favorite.


Robinhood - An online brokerage offering commission-free trades on stocks, ETFs, Options, and Cryptocurrencies. This stock-trading app is best for active investors looking for commission-free trading opportunities and mobile investing access.

TD Ameritrade - The best all-around choice for beginners because it provides the best combination of ease of use, educational content, and research tools new investors need to succeed


TitanVest - Is best for investors to prefer to be hands-off, especially in the beginning. Titanvest is built like a hedge fund and actively manages your capital to outperform over the long run. They explain everything along the way to help you become a better investor.


Select the option that is best for you, and you're off to the moon.


PersonaFi


People often think mentors or coaches are specific to sports, business or relationships, but keep their finances very private. We believe this could be because of a lack of confidence. Allow the PersonaFi team and your network of friends and financial influencers to be your Financial coaches. Soon you'll grow to love the financial conversation and the digestible and easy-to-understand analysis from your peers and mentors. Check us out at Personafi.co.


Stay tuned for our next educational article, where we will break down the difference between Stocks, Mutual Funds, and ETF's. Chat Soon.



Robert LaMacchia is a content writer for PersonaFi. He is interested in a wide range of topics from personal finance, business strategy and international technology. Follow Robert on the PersonaFi app at @rlamacchia.

Latest articles

Browse all