Posted by Income > 1 month ago | Report Abuse

That's a return of over 6000%, but between us, l invested a lot more than that.

Posted by Income > 1 month ago | Report Abuse

So now you understand the power of investing.
I think it's time to jump into the details.

Posted by Income > 1 month ago | Report Abuse

Honestly, it's amazing how many people talk about investing,

Posted by Income > 1 month ago | Report Abuse

but don't actually show you how to do it.

Posted by Income > 1 month ago | Report Abuse

So l'm gonna quickly walk you throughhow to invest in stocks on your phone.

Posted by Income > 1 month ago | Report Abuse

Of course, remember, I'm not a financial advisor.
This is just the way I do it,

Posted by Income > 1 month ago | Report Abuse

and before you do any of this,make sure you have an emergency fund of three to five months of livin g expenses.

Posted by Income > 1 month ago | Report Abuse

The first thing on our list is to set up an account.

Posted by Income > 1 month ago | Report Abuse

A lot of people get stuck at this stage,as there's a lot of different investment platforms out there
and also different types of accounts.

Posted by Income > 1 month ago | Report Abuse

But trust me, it's much more simple than it first seems.

Posted by Income > 1 month ago | Report Abuse

Especially now you can do it all online. When I first started investing,

Posted by Income > 1 month ago | Report Abuse

I had to phone up the stockbroker every time l wanted to buy a stock.
Let's use the Trading app.

Posted by Income > 1 month ago | Report Abuse

I'm gonna be using my son's account,as my account's pretty messy,
as it has a bunch of free shares.

Posted by Income > 1 month ago | Report Abuse

He's actually been running an experiment on here for the last three months,

Posted by Income > 1 month ago | Report Abuse

but we'll talk about that in a bit.

Posted by Income > 1 month ago | Report Abuse

The account you open should be a tax advantaged one.This means you won't have to pay any unnecessary taxes.

Posted by Income > 1 month ago | Report Abuse

Feel free to use whatever app you like.This is just one of my personal favorites.

Posted by Income > 1 month ago | Report Abuse

Next, we need to deposit some money in order to start investing.

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Most apps make it pretty easy to deposit money.

Posted by Income > 1 month ago | Report Abuse

We just have to click these three linesand then select deposit funds.

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As you can see, this brings up a screen

Posted by Income > 1 month ago | Report Abuse

with lots of different options like instant bank transfer, bank transfer, debit card,
and what we are gonna use, Apple Pay.

Posted by Income > 1 month ago | Report Abuse

Let's just put in 400,so we can invest in some stocks together.

Posted by Income > 1 month ago | Report Abuse

Right, now we need to plan a winning strategy.

Posted by Income > 1 month ago | Report Abuse

The first thing we need to remember isthat investments go up and down.
So it's very hard to pick winning individual stocks.

Posted by Income > 1 month ago | Report Abuse

That's why I prefer to invest in all of them.You probably think this sounds a bit crazy,but stay with me.

Posted by Income > 1 month ago | Report Abuse

but whatever you like, It you've ever listenedto the radio, or used Spotify,
you'll be familiar with the music charts.

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The better the songs perform in sales and downloads,the higher up they go in the charts.

Posted by Income > 1 month ago | Report Abuse

On the other hand, if a song drops in popularity and sales,then it drops out of the charts.

Posted by Income > 1 month ago | Report Abuse

And just like the music charts, if a company does poorly,then they risk being removed from the list.

Posted by Income > 1 month ago | Report Abuse

Here's the cool part about an index fund,with just one click,

Posted by Income > 1 month ago | Report Abuse

you're not just investing in one or two companies,but in every single company on the list.
So if one doesn't perform very well, your money's okay,

Posted by Income > 1 month ago | Report Abuse

This is almost exactly the same as investing in an index fund.

Posted by Income > 1 month ago | Report Abuse

All you have to do is switch out the songs for companies.

Posted by Income > 1 month ago | Report Abuse

Let's take the S&P 500 for example.
This is a list of around 500 of the largest public companies in the USA, the big dogs being Amazon, Google, Apple, and Tesla.

Posted by Income > 1 month ago | Report Abuse

And just like the music charts, if a company does poorly,then they risk being removed from the list.

Posted by Income > 1 month ago | Report Abuse

Here's the cool part about an index fund,with just one click,
you're not just investing in one or two companies,
but in every single company on the list.

Posted by Income > 1 month ago | Report Abuse

So if one doesn't perform very well, your money's okay,

Posted by Income > 1 month ago | Report Abuse

as you are spread across all of them. So how can we put this into practice?

Posted by Income > 1 month ago | Report Abuse

Well, we need to automate our long-term investments. Remember I said my son had been running a little experiment for the last three months on his account.

Posted by Income > 1 month ago | Report Abuse

Well, he's been investing small amount into the S&P 500 every day.

Posted by Income > 1 month ago | Report Abuse

Automating your investments like this is a great idea as it means you can just set it and forget it.

Posted by Income > 1 month ago | Report Abuse

His portfolio is actually doing pretty well. As you can see in the green.

Posted by Income > 1 month ago | Report Abuse

until... The global economy will contract by 3% this year.

Posted by Income > 1 month ago | Report Abuse

The worst downturn since the Great Depression. Surely this is the end of the stock market,

Posted by Income > 1 month ago | Report Abuse

but as things reopened, the market soared 27% from its low, setting new records.

Posted by Income > 1 month ago | Report Abuse

and that's a return of 5.03%. Not bad for a little experiment.

Posted by Income > 1 month ago | Report Abuse

If you want me to keep you updated with this when it reaches the six month mark,
let me know in the comments.

Posted by Income > 1 month ago | Report Abuse

To set something like this up, all you have to do is select pies and then press the plus icon.

Posted by DickyMe > 1 month ago | Report Abuse

When you have rent seeking mentality how to improve the economy.
Enjoying life without much effort but from blood sucking interest/rent.