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.