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Summer Stock Challenge: Day 1 – Investment Goals

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Summer Stock Challenge: Day 1 – Investment Goals

Learn more about the challenge HERE.

This training/challenge is for educational and informational purposes only.  These materials do not constitute a recommendation to engage in any particular securities transactions.

Investment products are: Not FDIC Insured | Not Guaranteed by the bank | May lose value

Week 1: Stock Basics

This week’s goal is to introduce you to stocks and help you build a foundation for investing in the stock market.  This is a great place to start if you are a beginning investor or would like a refresher if you have already started your investing journey.

Stock

A stock is a type of security that provides for part ownership in a company.  There are two main types of stocks: Common and Preferred.  For the purposes of this challenge, we will discuss common stock.  When you own common stock, you are entitled to vote as a shareholder and receive dividends.  Stocks can also be referred to as shares and equity.

Day 1: Why Invest? Setting Goals

Owning stock allows you to participate in the growth of the stock without taking on the risk of starting or managing the company.  But, it is important to understand why you want to invest and what you would like to achieve by investing in stocks.  Of course, the goal will be to grow your money, but WHY do you want to grow your money? Your WHY helps you to better identify your goals.

Today’s Investing Activity:  Select your investing goals, know your why, and write them down.

You can use my to help you with today’s activity.  Click Here ==> “InvestingGoals-Wksht” 

  • Write down your investing goals
  • Indicate why each goal is important
  • Rank them in order of importance to YOU
  • Share your goals in The Stocks & Stilettos Facebook Group or in the comments below.

 

Today’s activity focuses on setting goals because it’s not about how you start, but how you finish.  Setting investing goals are similar to setting and working towards any other goals in your life.  Your investing goals should be SMART.  Here’s and example:

SSpecific: I want my ROTH IRA to grow to $100,000

MMeasurable: For my ROTH IRA to grow, I must contribute $2,000/year (or $84/pay period)

AAchievable:  I can achieve my goal if I consistently make contributions to my investment account

RRealistic: I know that the stock market is no guarantee, but it is one of the better options to grow my money over time

TTime-Based: I will need the money from my ROTH IRA in 20 years, but I must start building it up today.

It is important to be a SMART investor with SMART goals.  This will allow you to keep your eyes on the prize and manifest your goals.  It also provides a way for you to keep track at regular intervals to see the progress you are making towards your goals and if you need to make adjustments along the way.

Tomorrow: Day 2 – Anatomy of a Stock

Follow me here:

Instagram: @StocksandStilettos       

Facebook: @StocksandStilettos

Twitter: @StocknStiletto

Group: bit.ly/stocksandstilettos

Happy Investing!

Cassandra

By | 2017-06-12T09:19:50+00:00 June 12th, 2017|Categories: Uncategorized|5 Comments

5 Comments

  1. Regina L Robinson June 12, 2017 at 3:53 pm - Reply

    This is so AWESOME! I’ve completed the assignment. It’s amazing when putting your goals on paper – IT MAKES A DIFFERENCE! Looking forward to the remainder of the challenge!

  2. Maranda June 12, 2017 at 6:46 pm - Reply

    Investment Goals
    Goal #1
    S – Specific: I will increase my knowledge of investing specific to stocks and the foreign exchange (Forex).
    M – Measurable: I will read 2 financial books per year and participate in 2 training opportunities per year.
    A – Achievable: I can achieve my goal by multiple means of education i.e. reading 2, participating in free online trainings, video’s, workshops, etc.
    R – Realistic: The goal elements are obtainable and within reason for myself.
    T – Time-Based: I will begin implementation of this goal June 2016 and seek to achieve/accomplish by May 2017.

    Goal #2
    S – Specific: My ROTH IRA will have consistent investment gains and growth of at least $10,000 a year.
    M – Measurable: For my ROTH IRA to grow, I will contribute $2,000/year (preferably lump sum).
    A – Achievable: I can achieve my goal if I earmark a portion of tax refund or two contract payments per year to my investment account.
    R – Realistic: I know that the stock market is no guarantee, but it is one of the better options to grow my money over time
    T – Time-Based: I will contribute $2,000 by July of each year toward my ROTH IRA as evidenced by the monthly statement demonstrating the deposit.
    Goal #3
    S – Specific: I will begin investing in the foreign exchange.
    M – Measurable: I will contribute $500/year (preferably lump sum) in the foreign exchange to initiate my immersion into the foreign exchange.
    A – Achievable: I can achieve my goal if I earmark a portion of one of my contract payments per year to the foreign exchange.
    R – Realistic: I have set a contribution amount that is within reason for my budget and knowledge acquisition.
    T – Time-Based: I will contribute $500 by December of each year toward the foreign exchange as evidenced by the monthly statement demonstrating the deposit.

  3. Allyson June 12, 2017 at 9:53 pm - Reply

    You ladies have some good goals. I’ve been staring at this paper all day not knowing what to put. I’m overwhelmed

  4. Tiffany Riggins June 13, 2017 at 11:59 am - Reply

    Summer Stock Challenge: Day 1 – Investment Goals

    My 3 goals are 1. Pay off my Debt. My debt right now are student loans 2. Create a monthly income. I would like to create a monthly income to wear one day i can leave my job and live comfortable. I know i will have to day trade to achieve this. I am will to study and learn to achieve this goal. 3. Retirement. My ultimate goal is to have $500k in retirement by age 50. My short term goal is to have $100 in 3 years.

  5. Adrienne June 13, 2017 at 11:46 pm - Reply

    I have to get more specific because I need to figure out exact amounts needed. For each of the following.
    1.Retire in 9 years. No need to leave before because I enjoy my job. I will have 30 yrs at that point but no where near the age. I want to be comfortable and not a burden on my children.
    2. I want to start investment portfolios for/with them and my grandchildren.
    3. I want to be a philanthropist that can sew into the lives of many. $100,000yr

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