| I am a bonafide investor in the stock market. I am truly an investor. As schmaltzy as this sounds, I feel such a sense of accomplishment. I consider myself a fairly well educated woman, who took the time and effort to pursue an advanced graduate degree, but I always felt that I had a dirty little secret hidden away, that I prayed no one would ever find out.
If someone had ever asked me to explain the stock market…I would have shriveled up into a fetal position and cried. My lack of knowledge about something that is so important to our economy, here in the United States, has always been an embarrassment to me.
Not anymore. The proverbial skeleton is out of the closet and it feels GREAT!
I've got a long ways to go and so much more to learn, but I've finally taken the time to learn the basics. In addition to the knowledge I've gained, I am pleased to announce that in just this short amount of time my stocks have made me $100.00! That's a gold mine to me.
So…let's back up and discuss the process involved in signing up with an online investment firm. I will use the contract examples from BUYandHOLD, which I signed and returned. I would imagine that the forms would be similar, no matter which online investment firm you choose to use.
And, no matter which source you do use, the following information is a heads-up to fellow newbie investors.
At a minimum, I did check the Privacy and Security statements on various web sites. I needed to insure that they use secure server software (SSL), which encrypts my information before it is sent to the web site. This security measure insures that ALL information you transmit goes only to your intended receiver. An important consideration since online trading requires that you provide your social security number for IRS purposes.
Online theft of secure information can be remarkably easy on the web. Taking a few minutes beforehand to reduce your fears and anxiety about this pitfall is well worth the effort. The use of security measures by your online investment firm should be a priority.
Fortunately for me, a single parent who floats between barely making a living and that ubiquitous poverty level, identity theft is the least of my worries. Who says it's so bad, not having a lot of money? I defy anyone to steal my credit card information or my social security number and use it. You know how far they'd get with that information?
Since I use my one and only credit card as a debit card also, it is linked to my checking account. The poor soul who ever bothered to steal my debit card number would be so sad. I recently wrote a check for $3.00 and didn't get the money in my account fast enough to cover it. That $3.00 check has cost me $45.00 in bounced check fees.
My average monthly balance in my checking account? Oh…usually about $22.00. The money isn't even in there long enough to earn interest. I put it in, pay my bills and it's gone in two days and down to nothing.
Being poor does have its bright spots and thankfully, for all of us, poverty is not a static process. I have the power to change that status and online investing is just one of my tools. The other is persistence, never giving up on my personal goals and time.
And this is fair warning to anyone who is considering identity theft from me. Part of the deal is that you have to take my precocious 8-year-old son with you. Be forewarned: you could only take his shenanigans for about two days and I trust that you would have my identity, and my son, back to me in the blink of an eye with nary a question asked. Take heed that I've given you fair warning.
Next time we continue with the forms and contracts that are necessary to activate your account and my encouragement to take the plunge and open that account.
Thank you for joining me,
Joyce |
