The other day, J. Money posted about how he’s planning to start buying stocks again. I commented that buying stocks scared me a bit, but it got me to thinking. I’m not in a position to start heavily investing in the stock market, but I think it might be a good idea to take a little bit of money, do some research, and start buying stocks.
I didn’t put much thought into it, and then I was reading Smart Money magazine on the way to work (got a free subscription, so I thought I’d try it out), and I started thinking about stocks again. But I didn’t know how much money I wanted to invest.
Turns out I planned this without thinking about it. When budgeting for my Dollar a Day plan in YNAB, I put the funds into the “Investing” category. I’m not sure why I didn’t re-name this category, as all my other categories are personalized, but for some reason, this money was termed “investments.” I was pondering earlier this year what the best use of this money would be, and I think I have the answer. I’m going to take about $350 of that money and put it into stocks. What stocks? Not sure yet. There will be much research to be done.
I won’t get rich on this plan, and I’m sure I’ll lose some money, but if nothing else, it’s a good learning experience. It seems like a good time to buy, with the market low, and I’m not looking for a get rich quick scheme, but rather a long-term investment plan, so here goes nothing!