by Diana Faddoul
To state that I am a novice at investing is NOT an exaggeration! The most experience I have is attempting to read a very large and overwhelming book I picked up my junior year of college; combined with any general knowledge I gained from the news on trending stocks and what would affect the price (whether it be positive or negative).
As a brief background, for all you readers out there; I came from a predominately lifestyle marketing/public relations background and was thrilled to be presented the opportunity to work at a fin-tech company and break into the “real world.” Voila, here I am!
Prior to coming in for an interview at DriveWealth, I downloaded the app to see what additional features were included other than general investing. Shortly thereafter, I started a practice account. Everything turned out to be user-friendly- I could utilize dollar-based investing and stay up-to-date on financial news all on the same platform.
Allowing everyone with a few bucks in their pocket to be able to invest in fractions of shares rather than purchasing a whole share was both fascinating and inviting to me. Investing was no longer out of reach it seemed as though purchasing stocks for an obscene amount of money was easily a fad of the past.
Fast-forwarding to last week:
I graciously accepted the offer and settled into my new role at DriveWealth. My team and I decided it would be helpful for new investors to document and share my activity as a first-time investor. So here it goes; I’m a live test of how investing is possible with a little bit of cash and knowledge. We could all use a push to learn more about how the stock market works and how it can impact you!
Day 1: Monday, November 14th, 2016
After the market closed, I submitted all my information which included proof of identity and linking my bank account. I received an email confirmation that my documentation was received and the next step was to wait for the funds to clear within the next 3-5 business days.
Day 2 & 3: Tuesday, November 15th, 2016 & Wednesday, November 16th, 2016
My funds were still pending!
Day 4: Thursday, November 17th, 2016
Shorter than expected and as promised my account was funded with the $50 I had transferred in. I was so excited to add my favorite companies into my shopping cart, referred to as the “basket” on the app. After choosing stocks and including them into your basket, the funds are evenly distributed into each company you included it making it seamless. I invested in Walmart, Amazon, Google, Disney, and Apple. My picks were based on that fact that I actually believe and incorporate these companies into my everyday life. I also factored in some trending things such as upcoming holidays, new product launches, etc.
I plan on investing more funds slowly but surely, so please keep a lookout for my second installment of The Chronicles. Coming in two weeks!
The inclusion of specific company names in the material is for illustrative purposes only, and does not constitute a recommendation to buy or sell a particular security.