Investing in stocks or wall street as some would call it is not my area of expertise. I would consider myself a beginner at most. If you have been following my blog then you know I am a real estate guy. Most of my assets are in real estate and I plan on becoming financially independent by my real estate rental properties. But I do know that it is wise to invest in other asset classes. Which is why I finally dipped into investing in wall street earlier this year and I revealed it in my January Net Worth Update.
How Much Money Am I Investing With?
I haven’t put a ton of money into it and at the time of writing this, I have spent about $6k in purchasing the stocks below. The spreadsheet below is a dynamic spreadsheet constantly pulling the stock price on the stocks below. So the numbers you see will be different each day and depending on where the stocks go. If I stumble upon a stock in which I feel is at a great value and I have some money to play around with, I will definitely make a purchase.
Why Did I Choose These Specific Stocks?
I can’t honestly say that I have a very good explanation of why I chose the stocks below but what I can tell you is that I was influenced by a favorite blogger and friend of mine, Jay from FiFighter. His style of investing is extremely similar to mine and his articles on investing in stocks really resonate well with me. I also read the following book: The Intelligent Investor and learned a great deal of proven methods to invest in stocks. The stocks you see below were purchased because I thought they had great value at the time of purchasing. Only time will tell if I am correct and I may periodically buy/sell some of the holdings below depending on what is going on in the market.
What Online Brokerage Am I Using?
My preferred online broker where I will buy and sell stocks is through TradeKing. I spent some time researching all the online brokerages and decided on TradeKing because they had the lowest fees. If you are considering saving costs on purchasing/selling stocks then you should also consider opening up a free TradeKing account. If you use the links here, you will get $50 in referral money if you open an account, fund it with $3,000 and place 3 trades within 90 days. I was able to take advantage of the same deal when I started and got my free money.
What Are My Future Plans?
I’m hoping to be able to build my stock portfolio in the future but for now I want to concentrate on saving more money to buy another rental property. Stocks scare me because I have zero control over what happens with the stock price. As for real estate on the other hand, although I have zero control in market conditions, I do have control over setting rent amounts, choosing what goes into a property which can impact rental demand and I can also choose where to purchase based on local demographics and city stats which play a huge factor in my investing thought process.
What are your thoughts on investing in stocks compared to real estate?