Hi, all. In November of 2017, soon after this blog was born, AnneMarie posted here as a new investor. She posted a follow-up in August 2018. Here’s where she is today.
THE STOCK MARKET IS STILL FOR ME, by AnneMarie Balogh
Hi Wealthy Joe readers!
It’s been close to two and a half years ago since I started investing in the stock market at Eric’s strong suggestion.
Some things have changed since then. What hasn’t changed, though, is this: I’m still in the market, holding my stocks.
As I said in my follow-up post nine months after my first, I opened a Roth IRA with TD Ameritrade to complement the brokerage account I had with Robinhood.
Last year, when TD Ameritrade started offering commission-free trades, I opened a brokerage account with them as well, and transferred my Robinhood portfolio into it.
It was simply a no-brainer: as a TD Ameritrade client, you receive 24/7 phone support (from some very nice and knowledgeable people!). Robinhood doesn’t even offer phone support.
And – very important as we advance in age – Robinhood does not allow you to name a beneficiary of your account. Eric discovered this over a year ago, and amazingly they have not changed this yet!
Unless you’ve been living under a rock, you know that over the past couple weeks, the market’s gone down significantly, culminating in a near 10% drop yesterday which brought us officially into a bear market. So…what effect has this had on me?
My account, which had been on the up and up until now, is now down. Over the time I’ve been in the market, I’ve invested a total of about $20,000. As of this evening, I’m at a little less than $14,000.
Does it hurt? Yes. Am I worried? No.
Eric’s shared this graphic from The Motley Fool’s Morgan Housel a few times on this blog. It reminds us that despite what has gone on around it over time, the market has continued to go up:
I’m still in the market, holding my stocks.
The stock market is still for me.
If you’re not yet invested, now is the perfect time to start. Stocks are on sale right now! You can get some fabulous bargains.
If you are currently an investor, see if you can find some cash to take advantage of the low prices. That’s what I’m going to do.
The stock market is still for me and it’s for you, too!
Go buy Eric’s book at the link following this post. 🙂
My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)