Friday, February 10, 2006

Making some money:

Well after over a month of having my money in the stock market, I have finally started to see some return on my investment. I made one bad choice on a stock, well more like bad timing on a stock purchase because I think it will end up being a strong stock, one okay choice, it fluctuates quite a bit from week to week so it is hard to read, and one great decision on a stock. The return is only 2.88%, but that is still better than it sitting in my checking account or, what it would more likely be doing, getting spent.

You might say Mike, you are such a hypocrite, you told us that we should start by investing our money in an Index Fund, and you are telling us that you have no money in an Index Fund, are you trying to screw us over so you are the only one making money? My answer is NO! I wasn't educated enough when I started investing and that's why I invested into straight stocks rather than any sort of fund. That's also why I started this blog, so that other people wouldn't make the same mistakes that I made! I'm saving up my paychecks now so that I can have enough money to open up an Index Fund. In fact I should have enough within two weeks.

Even though it was some what of a stupid decision for me to put money into straight stocks rather than a fund, I did do something right. I stopped being lazy and opened a brokerage account. I had been saying I wanted to do it sense high school but I always thought that it was too hard. I realized I was stupid and I should have done it when I got my first job. Now I am so happy with myself that I actually did it and I am interested in saving some of my money rather then spending it all.

Invest! Invest! Invest!

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