Block 22: The Practical
By this point you are probably wondering where you can buy these things called stocks. Our recommendation is to open up a Robinhood account because it has a nice user interface and it offers commission-free buying and selling. Robinhood is a brokerage, a platform for buying and selling stock, and by clicking here you can also get a free stock to start! Just make an account, link your bank account, wait until you get approved and then fund the account with an amount you would be comfortable losing 50% on. We say this because you should not invest your mortgage payment or your tuition for next semester. This is important: you should only invest money you would be comfortable losing 50% of. This is certainly not to say you will lose 50% but that is the mindset you need to have.
Typically, brokerages charge $3-7 per trade. This can really add up if you don’t have a whole lot to invest. So that is why we suggest Robinhood. There are other brokerages that are solid too like Schwab, TD Ameritrade, and Interactive Brokers.
The next natural question is: what stocks should I buy? There it is…what we have all been waiting for…