Steps for Successful Investing

  • Research
  • Setup
  • Research again
  • Create|Join
  • Enjoy

There are many steps to Invest. Above, I provide my top five list on how to be successful in investing. The very first step is to research how to invest. This is the most important step. This step teaches you the fundamentals on investing.

Depending on your research methods, this may take you a long time to complete . However, we all know that learning never ends, so some of the processes can overlap each other. You can learn as you invest.

The next step is to setup your investment account so you can start investing. When doing so, you will have to provide the company you are working with your social security number. This is for tax purposes.

Once your account is set up, use the site to research stocks. This is the third step. You can also use Yahoo Finance, Motley Fool, and other reputable sites to research this information. In 2022, The Dream Stock Exchange will make its debut on the stock exchange ( https://dreamex.com). Dream “will focus on small business capital formation and diversity using the power of the American investing.” Make sure you check it out.

The next step is to create or join an investment support group. This group can be made up of friends, family, and even strangers. This will allow everyone to discuss stocks in detail and get others opinions.

The last step is to have fun. Investing should be fun and you should only invest what you can. Have fun, but not too much fun. You also have to be responsible while investing.

PJ’s World

It’s the re-release of PJ’s World. PJ’s World is a children’s book about family, adventure, and fun. Interesting as his activities are, he also talks Hip-Hop with his cousin, drives a train as a conductor, and becomes a dancer at the dance studio of a world renowned choreographer. Come and explore with him and be a part of all the fun.

The Omen

Episode 8

Have you read Tested on Kindle Vella? Episode 8 (The Omen) was released on Friday, November 12th. Episode 9 (The Mood/Still Standing) is scheduled to be released on Friday.

Check out the episodes here: https://www.amazon.com/Tested/dp/B09H36T3S4/ref=mp_s_a_1_23?crid=1P0GGH5BAARON&keywords=melica+niccole&qid=1637105796&sprefix=melica+%2Caps%2C96&sr=8-23. First three episodes are free.

Football Season

It’s Football Season and she ready! Football Fumblina is ready to fumble, tumble, and have fun. This book is similar to a nursery rhyme with a couple of poems and affirmations in the book.

Check out this unconventional little girl who will have you singing, shouting, and just enjoying a great sport. Grab your very own copy here: Amazon

Making the Cut: Crypto Current

How often have you been keeping up with cryptocurrency? With the markets being open 24/7 you don’t have to wait for certain days or hours for the market to open. This allows you to stay current with the market.

Staying current with the market allows you to evaluate and re-evaluate your top five cryptocurrencies. 

Below are some of the currencies on my watchlist. I’ve been watching BTC since it was around $30,000, ETH around $1,800, and SOL around $85. All of these currencies are on the move. Are you moving and grooving with them?

Short Term vs. Long Term Investing


How long Should I Invest? This question truly depends on your financial goals. Some people have short term goals, while other people’s goals are long term. It’s good to have short term and long goals. This allows you to invest in your present and future.

When investing you may want to consider the taxes you have to pay on stock sold before 1 year compared to stock sold after 1 year. Your annual income and filing status also pays a part in how much you will be taxed for the year. Let’s look at an individual filing head of household bringing home around 53,701 to $85,500 a year. Say this individual brings home $69,600.5 (The median between $53,701 and $85,500). She has capital gains of $10,000, which brings her annual income to $79,600.50. Her short term taxable rate is 22% compared to a 15% long term taxable rate for an individual filing head of household, bringing home between $53,600 to $469,050.

As you can see, it pays to invest long term; however, there are those occasions where short term investments are inevitably. Some examples are reverse stock splits, trying to save some portion of your investment, and day trading of course.

Now I can’t tell you what you should do. All I can say is to do what’s best for your wallet.

These are a few long term and short term stocks that you should consider.

  • Ford
  • Apple
  • Lucid Motors
  • Airbnb
  • Discover
  • Energy Transfer LP

Work, Hustle, And Invest

One thing I’ve heard from individuals, especially those who are successful, is to create different streams of income. Creating different streams of income allows you to diversify your income streams.

I remember when I worked for a non-profit organization about 8 years ago. Our Workforce Development Director talked with the staff about not relying heavily on funding from one entity and diversifying our income streams as an organization. This really worked in her favor, because there was one funding source that had decreased drastically. Now there were a lot of changes made and she had to lay off some staff. However, she brought those individuals back once she had the opportunity. 

Work

This is your main source of income. This income should allow you to pay the majority of your bills. This source should, but doesn’t necessarily have to, allow you to obtain health insurance, life insurance, and meet your basic needs in life. This also should be a job you enjoy. Have you heard the saying from Winston Churchill? “If you find a job you love, you’ll never work again.” This is true.

Side Hustle 

The side hustle should be something you love to do to generate additional income. Whether it’s creating and selling books, baking and selling cookies, or creating marketing material for companies and individuals. Now a side hustle can definitely turn into permanent work. It just depends on you, your market, and the needs of your customer. Once you figure out if there’s a market for what you’re selling, you’ll be able to determine your next steps.

Investing

This allows you to sit back and let your money work for you. Now there is some work involved, such as researching companies, selecting a great investment, and continuing to watch the market and what’s going on in the news, and reallocating your investments if needed. Work on finding a strategy that works for you and your pocket.

~Work, Hustle, and Invest