Building Up My Dividend Portfolio
Starting To Invest On Robinhood
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Back in November I ran across a YouTube channel called Mommy Trader. I don’t remember who it was who recommended this channel, but I was curious enough to check it out.
As I started watching some of her videos, several things went through my mind. First, the economy sucks right now and the market is down. What that means though is that now is not a bad time to jump in. It’s almost like stocks are on sale right now.
I know a lot of people are worried about what is going to happen to the stockmarket, but that’s something that doesn’t worry me too much. It’s got around one hundred years of history to look back on to see the highs, the lows and everything in between. It might be down right now, but it will eventually bounce back.
What I like about this channel is she is easy to follow, shows her actual account balances and explains why she is doing what she is doing. She’s not a financial advisor and does not claim to be, but at the same time, she motivated me to get going.
I already had a Robinhood account. I’d purchased one stock that had gone through a couple of splits and I had no clue about what it was doing. So, I started doing some research and decided that I would start off small and focus on stocks that would provide dividend income.
I started in November and purchased a small handful of different stocks. There were a couple that the stock price was high so I was only able to purchase a fraction of a share, and others that were cheaper and I could buy multiple shares.
This money was my fun money. It wasn’t something I was counting on, and knew that if for some reason I picked bad ones, I wasn’t going to lose my shirt. Throughout December, every paycheck I’d transfer over another small amount and distribute it how I wanted to.
Right now, my account sits at around $450.
For me, that’s great. I know it’s not much, but it’s a start.
