5 steps on how to invest your first $1,000

5 steps on how to invest your first $1,000

The first step is not necessarily building wealth, it’s building confidence.

I compare it to jumping into the deep end of a swimming pool.

After the first time, it becomes a lot easier.

In other words, buying your first stock is truly the hardest part.

Here are 5 steps on how to invest your first $1,000

1. Start with Tykr

  • Join with a free trial.
  • Tykr includes free education and paid education.
  • Learn when to buy and sell stocks.
  • Learn how to reduce risk of losing money.
  • Learn how much to invest every month.
  • Learn how to react when the market goes down.

2. Find between 3 and 5 stocks in Tykr

  • Look for On Sale stocks.
  • Avoid Overpriced stocks.
  • Complete the 4M checklist to increase confidence. A score of 80 or higher is very good!
  • Add those stocks to your watchlist. When changes happen to your watchlist such as the Summary, Score, or MOS, you will automatically be notified. 

3. Setup your broker

  • Here is a list of the top brokers our customers at Tykr use: https://tykr.com/investing-tips/brokers/
  • A broker connects to your bank account so you can buy and sell stocks.
  • Make sure you sign up with a well-known broker. If you run into a new broker that is creating massive incentives such as “join for free to earn $100 in free trades” or “join now to receive 3 free trades”, be very careful. In fact, I would look for one of the brokers at the link above.
  • Set up an “Individual Account” as it’s the most common option.

4. Transfer money to your broker

  • Transferring money from your bank to a broker can take between 1 and 3 days.

5. Buy the 3 – 5 stocks you found in Tykr

Thereafter, keep buying more stocks every month and let the power of compound interest work for you.

Want to join Tykr? Start here with a free trial.

Want to buy and sell with confidence in 30 days or less? Tykr also offers courses. Visit Tykr Edu.