Why Start Investing
When looking at where to put your savings aside. Sometimes, a bank account is not the best answer. Sure everyone should save up and have a healthy amount of savings in your bank account but where else is a good place to park your money for future growth? Real estate comes to mind as there have been countless people who’s wealth has stemmed from it. But what if you don’t have the means to buy property? What if you’re a student with a limited budget. Investing in the stock market may be your calling to jump in.
Is Investing in the Stock Market Safe?
Many people believe the stock market is an extremely risky investment and not worth the potential returns it yields. Every investment comes with risk, however, there are actually very conservative and safe ways to invest in the stock market. Starting with even buying shares, a share or a fractional share of a good company can be very risk adverse.
Where to start.
Many Canadians would like to dip into the stock market but just aren’t sure where to start. The easy answer would be Wealthsimple. Wealthsimple is a commission-free trading platform that allows users to buy and sell shares, as well as fractional shares. Wealthsimple allows investors to dip into American and Canadian stocks. You can deposit as little as $100 and buy a fractional share of your favorite company, or a few shares of a company you believe in!
Conclusion
Entering the stock market can be a scary thought with all the stories of investors/traders ruining their livelihoods. But being safe, doing your own research and investing in good companies with great long-term outlooks can be one of the best risk-to-reward investments someone can make!
What do I do with this information?
In our most recent blog we covered fundamental analysis. After you open an account and are ready to invest you can use fundamental analysis to choose what companies to invest in! Read it all here.
Continue to educate yourself by joining our mailing list and receive free content along the way. For those who would like to take action, we have premium (paid) products and services. With the stock market and the general economy at crossroads, it is time to get educated so that you are ready for the next opportunity and/mitigate against the next potential dip in the stock market.
That’s all for now.
Happy trading and investing,
Your fellow Stock Hackers,
🍒Cherry & Erwin
P.S. The market dropped almost 20% between January and June this year. Many are worried it could keep going. Will the market crash? What are you supposed to do if it does crash? We unpack all of these questions in our latest FREE report, “What to do if the Market Crashes in 2022.” Download your free copy now!
