Answering some FAQs about Black Junction
How To Grow A Small Stock Market Account From $100 To $1,000
Today I'm going to break down how to grow a stock portfolio from $100 bucks to $1000 and beyond. Without risking all your money, and ill break down the best apps to use and also what to invest in.
1. The Best Platform to Use
- There are so many apps today
- But in reality, they are just middlemen to you actually investing
- So forget about all the marketing and focus on the best product with the lowest cost
For example, I recommend these Three Platforms for anyone getting started
- Sofi Money:
Tip: get all three and see which one you like, and the one you don’t like to stop using it. Not a big deal.
2. How to have money to invest
- If you’re your starting out with $100 bucks
- Then the key to growing your investments
- Is to keep investing
To do this:
- Every time you get paid to take 10% of your pay and set it aside for investing
- If you make $30,000 a year, that’s $$3000 a year investing
- 40 years of doing that consistently at a 7% interest rate will give you $642k and if you get 3% dividend: that’s $19k in income.
Do me a favor: no matter how much you earn take 10% and invest it, and trust me, this will add up in time. I did this when I was making $60 a week. In the first year, you will have a lot more than a $1000 portfolio.
3. What investments to make
- I think everyone wants to make some quick cash
- And they think investing should be waking up at 5:30 am
- And making some crazy trades and making $500 bucks a day
- That’s called a full-time job with massive risk
- 80% of day traders lose money every year
- And that’s not the game I want to be playing
Here’s how I do it:
- Passive investors: should read a book called the little book about common sense investing by john c bogle
- This book will tell you the pros of investing in index funds
- The idea is, instead of picking stocks and taking risks, you can buy a piece of the market and get the average return every year.
- If you invested in the ETF by Vanguard called S&P 500 ( VOO)
- The average annual return is around 7%
- Meaning that every year you can expect that, plus the dividend
Tip: I recommend you use the Acorns app, and get a moderately aggressive portfolio, and then you can also copy those investments into any other app you want to use.
Active investors: Read a book called the intelligent investor by Benjamin graham. And take courses on accounting and finance and valuation of companies.
- If you invest in apple, tesla, or delta, because you like the companies that are not investing and you’re putting your hard earn money at risk.
4. Potential of your investments
- Like I mentioned before
- The key to growing your portfolio is not making risky trades
- But instead consistently investing
- If you got the acorns app and invest every time you get paid 10% of your income or more
- In my case, I tend to do $500 bucks a month
- That’s means in 10 years I will have $88k and in 40 years I will have around 1.2 million at 7% interest rate
Tip: drip investment to spread the risk and that’s why I tell you to invest every time you get paid. That way you can spread the risk.
Used: a compound interest calculator to see your investment potential
5. Goal: financial freedom
- Everyone here watching this video will have similar goals
- Whether its passive income and low risk
- Whether its faster growth with stock picking
So Overall after watching this video:
- Pick an app you want to use ( or use them all and try it )
- Set aside money every time you get paid
- Keep track of your growth and your goals and stay consistent
Tip: I have a video on my full portfolio.
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.