Thursday, March 24, 2011

Financial Success for starters appetizer recipe

So you have been reading the blog and listening to me talk about all this investment stuff and are ready for a step by step instructions on how to start investing. We will cover it like a recipe.

Ingredients
  1. Money: $100 (Its a good starting point, and what I started with)
  2. Routing Number 
    1. Found on the bottom of your check or your banks website
  3. Checking Account Number
    1.  Also found on one of your checks or call your bank
  4.  Social Security Number (for tax purposes)
Process
  1. Go to Sharebuilder
  2. Create an account
  3. Link your checking account to your new brokerage account
  4. Deposit your money
  5. Set up your automatic investment plan with the symbol SPY (this is the S&P 500 that I have mentioned before)
  6. Continue to add 10% of your paycheck to your account
  7. Wait till retirement or whatever your goal is and enjoy the fruits of money working for you instead of you working for money.

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