Now is the time for the working man (person) to buy stock. I joined E-Trade a couple of weeks ago and I think it will end up being the smartest thing I will ever have done in my lifetime. Stocks are now affordable for the average Jane and Joe. The market will rebound, as it always does, and when it does… I will end up with a nice little nest egg.
I am investing in American companies, trying to do my little part in keeping it here. I started out with 50.00 and then added another 100.00. I invested all but 9.00 of it in three companies. Stocks are so low now that anyone can afford to do this. Where they get you is in the commissions, but that is a per item, one time fee.
The commissions will not be an issue once the stocks level out and go back in the right direction. I am going to add more money as it comes available and buy more stocks while they are still low. I admit it is a gamble, but it is one I, for one, am willing to take.
The key is to invest your first time in well established companies. Do your research, but take that chance. For people like me that could never afford to do this before… I just can’t see why anyone wouldn’t gamble a little for a chance to pull yourself up out of the mire of struggling paycheck to paycheck. Heck, I have spent more at the movies in just a few visits than I have put into stocks. Why not put it in a place where there is a chance to get something back other than a good time for a few hours?
I will admit that watching the DOW go down can definitely get your heart rate up… but I truely believe that after the election in November, things will settle back into the semi-norm. Gas prices are lower. People are now starting to drive and go out to do things again… and when people are out and about, they spend money. All it took was lower gas prices to get things moving again.
I can hear you now saying that it will not be an instant fix to the recession but I do believe that in less than 2 years the economy will right itself and I will be there waiting with my stocks to enjoy it.
What are your thoughts on this subject? Do you agree or disagree? I would love to hear what you think.
Hmmm.. maybe I should buy me some Harley stock!
Phoenix, you are exactly correct. What most people don’t realize is that the majority of stocks were overpriced these last 15-20 years, anyway, and, when they say that this is a “correction,” they are correct. If you do the research and buy in established companies and hold the stocks for long-term gain, then you will make money. The trick is discipline and not to panic…
Steel, Harley stock very rarely goes down, so you won’t get a lot of profit, but you won’t take much risk, either.
You are exactly right on. Just wish I had even two pennies to rub together right now in order to get in on this. Sigh….
The other thing about this whole situation is that the more the media keeps saying how horrendous the entire world economy is, the more people panic and start pulling everything out. Tailspin through media spin….
Hugs and smiles
Been thinking on doing this myself….maybe time now to jump in!