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Hey Wealthie Besties, it’s MONEY MONDAY and today I am sharing my PERSONAL TRADING STRATEGY and answer the one question I get ALL the time.
Let’s do this 😉
Hey, Priiincesss, what are the best stocks to invest in?
The number one question I get all the time since I’ve been trading within the last few months is what are the best stocks to invest in? And my I answer remains the same, the best stocks to invest in are the companies you love and consume DAILY.
What do I mean by that?
What are some of your favorite things? What kind of car do you drive? What’s your cellphone service provider? WHO makes your cell-phone, the computer you use every day. Where do you shop? Which airline do you fly with? Who do you bank with? Which social media platforms do you spend most of your time on? If you can answer any of those questions those are the best stocks to invest in.
As a new investor myself I don’t want to waste my money on risky stocks. My ultimate goal is to build wealth for myself and my future family through ownership not get rich quickly. So I created a simple and specific trading strategy for myself.
My Trading Strategy
Knowledge is power; I have been learning everything I can about the stock market. I have been reading articles, listening to podcasts, and getting real insights from the financial gurus that are where I hope to be in the Stock Market.
Investing Plan: As I said my goal is to create wealth for myself so I created a REALISTIC 5-year investing plan for myself. Then I break it down to a yearly plan, monthly plan, and a weekly plan.
Investing Budget: Based on my current income and current bills I set a very specific investing budget. My monthly investing budget is $500. Each week I transfer $125 to my brokerage account. I currently use @Robinhood.
Stocks Wishlist: I created a list of the 10 companies I consume on a regular and decide how many shares I want in each; (most of these companies pay dividends. So I make Monthly/Quarterly money back to re-invest.)
- Comcast: Kirklan and I been using Comcast for our internet and cable for YEARS and I recently switched to Xfinity Mobile.
- Delta: first I live in Atlanta so of course Delta is my go-to airline.
- Bank of America: I have been banking with Bank of America for years for all of my business banking needs.
- Capital One: All of my credit cards are with Capital One and I do all of my personal banking with them.
- Facebook: Like the rest of the world I am OBSESSED with Instagram and Facebook.
- Walmart: I’m pretty sure I go to Walmart 5x a week, crazy, I know, but it’s Walmart.
- Apple: I am definitely an Apple EVERYTHING girl. I have an iPhone, Apple Watch, MacBook Air, iPad, and Apple tv.
- Nissan: While I will be buying a Tesla SOON, I have been a Nissan driver for years now. I am currently on my 4th Nissan. I’ve had a Nissan Sentra, 2 Nissan Altima and now I drive the Nissan Leaf.
- Canon: Yes, I am #TeamCanon ALL DAY. When I launched my blog over 9 years ago my very first DSLR was the Canon T3. Then I upgraded to the Canon T6 and I now shoot with the Canon 6D.
- New York & Company: NY&CO stock ain’t doing nothing yall, they like 18 cents right now, but I LOVEEEE NY&CO, they literally get ALL of my money on a regular. So why not.
Shares Goal: After I created my Wishlist of the 10 companies I consume on a regular I decided how many shares I want to have in each within the next 5 years. While I watch the stock market closely and spend my money on what makes the most sense. Each week I decided which stocks I’m spending my $125 on. I do have a cushion in case something major happens and my stocks drop I’m ready to double up and go all in.
Current Focus: What stocks I focus on changes with the market and as we are dealing with the Corona Virus Crisis I have been stocking up on DELTA and Bank of America.
And that’s my exact strategy, the stock market can be very intimated and honestly, there are a million companies we can all invest in but what’s important is that know exactly what we can want and create a PERSONALIZE plan for ourselves. I want to build WEALTH. So it’s important that I invest in solid companies that can stand the test of time with a great reputation and consistently grow so MY money can continue to grow as well!!!
Homework: of course I have some homework for you. It’s your turn to create your own trading strategy or 5-year investing plan. Start with a financial goal. Where are you now financially and where do you hope to be within the next 5 years. And create a plan with your 5-year financial plan in mind.
And of course, I want to know ALL about your financial goals, let’s chat on Instagram, comment under the #MoneyMonday post HERE and let’s hold each other accountable.
