I'm letting my money work for me!
By reinydawn
@reinydawn (11643)
United States
April 11, 2009 6:17am CST
Last fall, when the stock market got really bad, I decided to take advantage of that. I've never had stocks before, so I hadn't lost anything so far, but I figured the time to buy is when it's at rock bottom. So I opened an account at Sharebuilder, put $100 of my own money in and over the next couple months put all my internet earnings in. Now, I don't make a lot on the internet, it's usually just fun money for me. Between early November and late March, I put a total of $349.00 into stocks.
Since I've never done this before, I really didn't know what I was doing and had to do little bit of research. I started out buying things that were really cheap - like I bought 53 shares of Circuit City for $20. That was actually my husbands idea, he said if they didn't come back it was only $20. That was the LAST time I let him pick a stock!
Over the course of a few months, this is what I purchased:
Circuit City $20
General Motors $10
Eastman Kodak $20
Dell $20
Playboy $10
Garmin $59
Nissan $52
Nordstoms $40
Ford Motor $118
Now, today, the value of my account is $462.71, I've gained $113.16 plus been paid dividends of $.55. Now, some of my stocks are losing, but some of them are doing quite well. Here's my total value now:
Circuit City $.40 (that was a huge mistake to buy!)
General Motors $3.49 (my husbands idea again)
Eastman Kodak $11.51 (I think they have some potential to come back)
Dell $16.20 (not doing too awfully bad, but I think it's going to do ok in the long haul)
Playboy $9.54 (I just got this one for grins, but it's holding it's own!)
Garmin $67.53 (so far an ok return)
Nissan $61.96 (I love Nissans, that's all I drive!)
Nordstoms $74.32 (I figure the rich are going to keep spending! And it's the only one that's paid me any dividends so far)
Ford Motor $217.75 (my big gainer! WOOHOO!!! I just had a gut feeling on this one)
I've also earned $.01 in interest for the short times I had the cash in the account but the stocks hadn't been purchased yet.
This is definitely a long-term money-builder, but if I were to cash out today, I'd have $113 more than I started with!
So, is anyone else taking advantage of the market prices being down so much?
4 people like this
12 responses
@jewilim (495)
• Philippines
11 Apr 09
Wow, i really have no idea that we could just buy shares of stocks online. Is that from sharebuilder? hmm. I would really be checking that place out. Im really not that familiar with stocks investing but when one buys a stock when is the least of time that he or she could sell it from the time it was bought? Could he buy it and just sell it the next day? I think that is quite fun but i think its also important to keep an eye on the prices of the stocks when it goes up or down.
Does it also require a minimum amount of investment to be able to start out there?
Thanks for the infos..
3 people like this
@jewilim (495)
• Philippines
11 Apr 09
oh, i just checked the site out and i though they also do paypal and i think they don't. :(
I thought that i could use my paypal funds to buy some shares but i think they only do bank transfers or wire transfers. And i have also seen that doing withdrawals also would cost you some fees.
2 people like this
@bikespot (483)
• Canada
12 Apr 09
You cannot add funds through payapl. Only through wire transfer/bank account. This is a real investment , they want to be able to track where funds are coming from and that they are legit.
There is a FAQ somewhere that shows what they accept for funds. Also other questions you may have.
2 people like this
@reinydawn (11643)
• United States
12 Apr 09
This is not a money-making-scheme or get-rich-quick deal, it's an actual investment account, mostly to save money for the future. It's for people who are serious about investing money. They only take transferes to and from bank accounts, and there are normal invetment fees involved.
@ronnyb (6113)
• Jamaica
12 Apr 09
Yes I used to invest in the stock market but I was too impetuous and couldnt hold my own when I saw my stocks going down so my perspective was just too short and as a result I held some really good stock but lost them in them down phase before they had the opportunity to gain.'
You on the other hand have the right perpesctive and you should continue to do well.I am no expert as I have said but your portfolio looks quite diversified as I am always been told to do and if you continue to have a long view of the market should do well.
Back in the day though I used to invest in the otcbb and pk ,that is over the counter bulletin board and pink sheets excahnge ..these are basically penny stock but right now i dont have an active stock account .I am thinking of reviving that now that I have seen your discussion
2 people like this
@reinydawn (11643)
• United States
12 Apr 09
Yes, it is definitely a long-term thing, and you need to have patience. I think this summer I will do a bit more research into things and get a bit serious.
I like having the sharebuilder account because I can do as much or as little as I want, when I want. If you think you might want to open one there, let me know because they do have a referral program and I would get some transactions for free instead of paying the fee.
1 person likes this
@bikespot (483)
• Canada
12 Apr 09
True on the part about buying when the market is bad. I did think of that before , but just wasn't sure how things would turn out in the long run nor do i think anyone knows.
I think you got lucky really. More like just betting on a sports team to win. You may get ahead here and there but your alot more likely to loose in this economy. Who knows how worse it could get. Its interesting though how you went about it and came out with extra.
2 people like this
@reinydawn (11643)
• United States
12 Apr 09
Yes, it still is a gamble of sorts. And I'm kinda treating it the same way I do my gambling money - I don't spend the mortgage on this, only "extra" money. If it grows, that's good, but if I lose it it's not going to put me in the poor house. Right now it's just for fun - and it's more fun since it's growning :)
@bunnybon7 (50973)
• Holiday, Florida
12 Apr 09
i did have stocks 2 yrs ago. had to get that money and use it to live on until my disability came through. but, i did have to pay a small sum each year for the handleing of it. ?? not sure why or how that worked. it was like 40 bucks a year i believe.
@reinydawn (11643)
• United States
12 Apr 09
Yeah, there's always transaction fees or maintenance fees. With sharebuilder you can pick which plan you want. There are a couple with monthly fees, but right now I do the per transaction fee.
@msgissatan (47)
• China
12 Apr 09
Congtatulations to you can get so many benefits,hope you can also get more income.Every day happy!
@GardenGerty (157481)
• United States
11 Apr 09
This is on my "to do" list, but I have not yet. I really should, because I finally have a little discretionary money. I think I signed up for a share builder account a long time ago, but never funded it. It is gratifying to see our "fun money" multiplying as well.
2 people like this
@reinydawn (11643)
• United States
12 Apr 09
I have always wanted to do this too, and I'm glad I was not able to in the past because it would have all been lost... But now is definitely the time to get in! Hey, if your sharbuilder account isn't valid any more, let me know if you want to resign up. There are some perks for referring people - I think it's like 25 free investments (no transaction fee).
@reinydawn (11643)
• United States
13 Apr 09
I had heard about Sharbuilder and E*Trade, and did a bit of looking into each one. I don't remember why I went with Sharebuilder, but I guess they musta had a better sign-up offer at the time... If you're interested in going with Sharebuilder, let me know because they do have a referral program and it will save me a bit on some of my fees.
1 person likes this
@reinydawn (11643)
• United States
12 Apr 09
HAHAHAH!!! I have no clue what I'm doing! I think I just got a bit lucky - so far - with a couple good picks. I just wish I had some more money right now while things are still low. I should be getting my bonus soon and I'm going to put some of that into my account.
@net101 (157)
• India
12 Apr 09
Investing in shares is always good when you are knowledgeable about it. especially in money matters risk is always there. If you have little spare money and idea of shares, anyone can test whether it is for him. You have to do a lot of research and analysis if you want to remain at the top of affairs.
1 person likes this
@reinydawn (11643)
• United States
12 Apr 09
I am learning and I've been reading up on the companies before I do anything with them now. It's been both educational and fun.
@justszack (333)
• Indonesia
12 Apr 09
wow, speechless!!, no idea to say, congrats and good luck ahead!
1 person likes this
@reinydawn (11643)
• United States
12 Apr 09
Yes, it was a bit of luck and a bit of being in the right place at the right time. I had I done this a year ago I don't think the results would be the same right now!
