If you read our post on investing, you have since become familiar with the time value of money, stocks, bonds, etc. You may now be more aware of the risks and rewards associated with investing. The best way to learn how to swim is to jump into the water! Jump into the world of investing and stocks without using your own money!
To better expand on the concept of investing, TCA will be conducting a case study over the next few weeks. We will be starting an investment challenge by investing small amounts of money overtime and updating you on our progress.
To begin investing, you will need a broker. For this exercise, we will be using Robinhood because it is simple, free, and easy to use. In addition, they are currently giving free stocks to any new user that signs up. These stocks will be randomly given to you after registering. So whether you receive a stock worth $5 or $500, free money is always a plus. You should also not underestimate the opportunity to dive into the world of investing without using your own money!
Left – the login homepage for Robinhood on iOS.
Right– An example profile page. Since opening a Robinhood account and placing $1050 into 4 different stocks, the value of this account has grown an additional $248.32 or roughly 23%. By comparison, an initial investment of $10,000 would have made a net gain of $2,365!
How it works:
Robinhood is a useful application when it comes to trading and monitoring stocks. Sign up using this referral link here:
No credit checks or hassles although you must provide your SSN for taxation purposes. After registering, you will receive a free stock. For transparency, TCA will also receive a free stock for each referral. TCA will monitor these stocks and track their progress in the coming weeks providing further insight.
THE CLEVER AFRICAN: INVEST IN YOU
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