First time buying stocks

May 26, 2020 14 Comments

Hi everyone, I just downloaded the Robinhood app and bought some stocks for the first time. Started out with $500 very conservatively. Any genuine advice/tip would be so much appreciated! Thank you.

p.s. I was targeted by a Motley Fool ad so I signed up and they recommended Slack, Stitch Fix which I ended up buying too. #investments #personalfinance

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  • Oracle / Eng
    Febt56

    Go to company page Oracle Eng

    PRE
    Amazon
     Febt56
    Robinhood doesn’t let you add beneficiaries
    May 26, 2020 2
  • Intuit
    BYun36

    Go to company page Intuit

    BYun36
    You're doing good! Sign up for Fractional Shares Trading on Robinhood if you can.

    Follow the companies/industries you're interested in, look up ETFs, see if you want to invest in some crypto.

    Also RH doesn't give you any info on how much you capital you put in, just your total portfolio value. Maybe maintain a spreadsheet for that on your side so you can see how your portfolio is growing/doing.
    May 26, 2020 2
    • OP
      Thank you so much for taking the time to encourage me and to give me some seriously valuable advice. I will!!
      May 26, 2020
    • Oracle
      fG3ds

      Go to company page Oracle

      fG3ds
      I would vehemently argue against the crypto part. You have the right to ignore my advice/argument.

      Crypto is pure gamble. It’s not a currency, it’s not an investment, it’s not an asset unless owning a few electrons count as assets. It’s pure trash.

      Sure, you can make tons of money by doing crypto. Same goes with gambling. My advice would be a newbie to learn what it means by being an investor vs speculator. You know what. Read Benjamin Graham’s Intelligent Investor.
      May 26, 2020
  • Dell
    xyzcyc

    Go to company page Dell

    xyzcyc
    I don't know how good Robin hood is at tax filing imports, but .. keep good records and thank me in April
    May 26, 2020 3
    • What do you mean tax filing imports? What records should one be keeping? I’m using Fidelity
      May 26, 2020
    • Dell
      xyzcyc

      Go to company page Dell

      xyzcyc
      Mostly cost basis for each batch of stock you buy. I've had a hard time with some platforms keeping track of that. Basically, does 'import from xxx' in TurboTax provide all required data. Often it does not even with schwab and fidelity
      May 26, 2020
  • Sephora
    175bdyo21

    Go to company page Sephora

    175bdyo21
    Don’t put more than 5% of your net worth in individual stocks. Buy ETFs.
    May 26, 2020 0
  • SAP
    VaderDarth

    Go to company page SAP

    VaderDarth
    Did you have to pay for Motley fool ?
    May 26, 2020 1