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So I did it. I invested in the stock market for the first time. It was actually really easy once the discount brokerage account was set up. I just picked the stock, typed in the amount of shares I wanted and clicked “buy”. When I submitted the order, the share price was $19.55 but the shares were purchased at $19.60 so it was a tiny bit higher than I expected but still a good price considering the payout.

So far the price is staying around the what that I bought it at. This is not a growth stock and I am not expecting huge gains in the price. My first dividend payout will be sent to me on the 15th. I will receive a whopping $11. As I add to my investments that amount will grow, I hope to eventually be collecting enough dividends to support myself. This will take a while but I am patient.

Wish me luck!

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As mentioned in a previous post, I recently read a book called “Stop Working, Here’s How You Can“. This book inspired me to start investing in the stock market for the first time. The problem was that I had no idea how to do it. Where do I go to buy stocks? How do I choose a good company? How does it all work?

I solved that problem by reading a couple of books on the stock market, these books talked about how to get started, how to evaluate the companies that you are investing in and what kinds of things to avoid.

The first thing I found out is that I needed a brokerage account. I also found out that there were different types of brokerage accounts. The more traditional option is the full service brokerage account where you get one-on-one guidance and advice from a qualified broker. These brokers will give you stock tips and even make purchases on your behalf. The downside is that you will pay hundrends of dollars in comissions for each trade that you make and there is always the risk that you are getting biased advice from someone who will benefit from your decisions.

Another option is to get a discount brokerage account which is more of a self serve type of service where you can buy your shares online. This only costs $29/transaction (sometimes less) but you have to do all of the research yourself. There will usually still be a lot of company financial infomation available to you with these types of services.

Since I am starting with a small amount of money, I decided that it would be best for me to set up a discount brokerage account. I did that through my bank and then found a stock that is currently paying an annual dividend of almost 14%, has a high growth rate, and has a long history of high dividend payouts. I am going to start with that one.

So now I am all set up. I have my discount brokerage account, I have $1000 ready to go and I have my company all picked out. Tomorrow I am going to invest in the stock market for the first time. I am so excited! I will let you know how it goes.

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I’ve been hearing all of these doom and gloom stories about how the world is ending, the stock market is falling and people are loosing their jobs in the United States. I do agree that a lot of people are having a really tough time right now to say the least; some have been loosing everything they have.

This is very sad; it should be a lesson, and an early warning sign for us Canadians who are knee deep in debt, and maxed out on our mortgages. For those of us who aren’t, the recent economic troubles could mean a huge opportunity for investing in the United States and around the world. Our dollar is up, our real estate market is healthy, and our unemployment rate is low.

In contrast, in the United States foreclosures were up 75% in 2007, there were more than 2.2 million filings for foreclosures! That’s 2.2 million homes being sold at bargain basement prices. (Check out foreclosure.com to see all of the homes that are “on sale”) Also the US unemployment rate is on the rise, and their dollar is has been falling steadily for quite a while.

In spite of all of that, we Canadians are still going strong. This presents a rare opportunity for us. Many of us can now afford to buy beautiful homes in the US that we never would have dreamed of buying even a year ago. This weekend my boyfriend and I went for a drive south of the border. It is unbelievable how much cheaper the houses are there compared to here. A house that you would normally pay $300,000 for here in the Toronto area you can get there for under $80,000 in many towns and cities in Western New York. Some that are even right on a lake!

Other exciting oppotunities can be seen in the US stock market. I’m sure you’ve heard the term buy low, sell high. Buying now may be a good example of buying low, although there’s no way to pinpoint exactly when the market will turn around.

Investing south of the border may also help to provide income for you in the event that the Canadian economy suffers a blow. Just make sure that you do your research before you invest in any company, or property in Canada, the US or anywhere else.

As bad as things seem now in the United States economy, why look at the glass as being half empty when there are so many opportunities out there?

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