Slay with Stocks Challenge: Day 1 – Investment Goals

//Slay with Stocks Challenge: Day 1 – Investment Goals

Slay with Stocks 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 “InvestingGoals” worksheet to help you with today’s activity.

  • 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 – Here – 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.

 

ADVANCED ACTIVITY:  Write one BIG, HAIRY, AUDACIOUS, FINANCIAL GOAL you want to achieve THIS YEAR!  It can be to contribute the maximum on your 401k.  It can be to purchase an investment property.  Whatever it is, it should be a stretch.  Write it down and at least 3 steps you’ll need to take to achieve your goal.  Then, take a screenshot and change it to your wallpaper on your phone for the duration of the challenge.  Be sure to share your BIG, HAIRY, AUDACIOUS, FINANCIAL GOAL with at least one person.  Remember, you have 12 months to make it happen!

 

Tomorrow: Day 2 – Anatomy of a Stock

Follow me here:

Instagram: @StocksandStilettos       

Facebook: @StocksandStilettos

Twitter: @StocknStiletto

Group: bit.ly/stocksandstilettos

Happy Investing!

Cassandra

By | 2018-01-08T09:54:37+00:00 January 8th, 2018|Categories: Uncategorized|20 Comments

20 Comments

  1. Tamatha January 8, 2018 at 9:14 pm - Reply

    My BIG, HAIRY, AUDACIOUS, FINANCIAL GOAL is to max out my TSP/401K…

    Question: Which is better Roth or Traditional IRA?

  2. Laesha knox January 8, 2018 at 11:09 pm - Reply

    My Why?
    1. Purchase land
    2. Home built from the ground up
    3. Real estate buy lot build apartments
    4.Save for daughters college tuition
    5. Invest have a fund that my daughters can cash in on at 21.
    6. Save for retirement so I don’t rely on social security.
    7. Make money in my sleep so that I can focus on more important things in life.

  3. Buffy January 8, 2018 at 11:56 pm - Reply

    Hey there! I did not receive the email for day one of the challenge.

  4. Lawanda Shepherd January 9, 2018 at 12:34 am - Reply

    Hello All,

    Ultimately, my investing goals are to lay the foundation to generate generational wealth for my descendants.

    My shorter term goals are as follows:

    1) Aquire as much knowledge of stocks as possible within the next 21 day’s.

    2). I’m a proud owner of 1 stock of Siri, my goal is to aquire two more by the end of 21 day’s. (I linked my Robinhood account to my bank account and received two deposits totaling .15 cent’s today (yah me) my grin could not have been bigger.)

    3). Open my first EFT account and purchase 1/2 to 1 1/2 stock/s.

    4) Aquire how to knowledge of saving for retirement and how/where to get started.

  5. Andrea January 9, 2018 at 2:20 am - Reply

    My investing goals in order of importance are:

    1.To have security/retirement for myself.
    2. Savings for myself because I have health issues.
    3. Travel because I love the experiences!

  6. Virginia S. Leon January 9, 2018 at 6:37 am - Reply

    My investment goals is to build a strong portfolio that will grow and help me put money up for my families future.

  7. Alysande January 9, 2018 at 1:16 pm - Reply

    My goal is to build wralth and leave wealth for my family. Also share witj others what i learn.

  8. Alysande January 9, 2018 at 1:17 pm - Reply

    Excuse my errors!

  9. Lashawn January 9, 2018 at 4:04 pm - Reply

    My investments goals are:
    become more knowledgeable with investing
    open ROTH IRA
    purchase stocks 3 times by year’s end

    My big hairy audacious financial goal is to save 10k while paying down credit card to half of 2017 ending balance.

  10. Zelda Freeman January 10, 2018 at 12:27 am - Reply

    My investment goals are:
    Save for retirement
    Save for travel
    Save to leave an inheritance for my children and hopefully grandchildren

    My big audacious goal is for my investment account to grow by 25%.

  11. Tonya Chester January 10, 2018 at 12:45 am - Reply

    My investment goals…
    1. Start a Roth IRA by the end of the course
    2. Learn as much as possible on different types of investment
    3. Invest in stock through my IRA in 6 months

    I want to learn about investment so my husband and I can travel after retirement and not live off social security.

  12. Lee H January 10, 2018 at 2:27 am - Reply

    To grow my retirement portfolio, open up an investment account and learn about investing. Become a home owner. Longterm owning investment rental properties.

  13. Kandice January 10, 2018 at 3:07 am - Reply

    My investment goals from smallest to largest:
    1. Save an emergency fund of $500
    2. Save $10,000 Investment fund
    3. Clear Credit and pay off all debt
    4. Buy at least one rental property
    5. Invest in at least one stock

    They are all important to me because they all bring me one step closure to financial freedom and safer retirement. My end goal is to have enough money not to be a burden to my children financially.

  14. Dex January 10, 2018 at 6:24 pm - Reply

    My goal for this 21 day challenge is to learn as much as I can about investing in the Stock Market and day trading.

    My crazy, wild, far-stretching goal is to own multi-unit residential property and a mixed-use commercial property by close of 2018. Three steps to get there.

    1. Build Capital (Reconstructing and paying off debt)
    2. Build (Create) Equity
    3. Build a team and make the purchase.

  15. TIFFANY HAMMOND January 10, 2018 at 9:58 pm - Reply

    My investment goals are:

    1.Save a emergency fund of $1000
    2.Buying property
    3.Pay of my debt and student loans
    4.invest in a couple of stocks
    5.Growing my IRA as much as possible by the end of the end

    These are important goals and achievable for me because it will help me plan a better financial future for me and my family. It want to travel the world and own my own business.

  16. Arnel Richardson January 10, 2018 at 11:08 pm - Reply

    1-Learn more about how to maximize my 403B and mutual funds
    This is important because I want to have a say in how my money is currently being invested.

    2-Teach my kids about the importance of investing
    This is important because we want to teach our kids the importance of building wealth and watching their money grow. We want them to become investers and producers not just consumers.

    3-Grow our investment account to $10,000
    This is important because we want to start saving our money and create a nest egg to be able to do more things.

    4-Purchase an investment property
    This is important because we want to establish generational wealth for our family thst can provide residual income.

  17. Candle January 11, 2018 at 12:53 am - Reply

    My goal is to:
    1. Invest as a form of passive income
    2. Master investing to where it can replace my full-time job
    3. Use money from investments to purchase real estate and other assets

  18. DC January 11, 2018 at 4:06 am - Reply

    Day 1: My Why?

    1. I want to own where I spend. I have a high value for owning stock where I spend my money.
    2. I want to learn and master this wealth tool/resource and challenge others to do the same.
    3. I want to build this additional revenue stream.
    4. I want to sit in the shareholders meeting. Period.
    5. I want to rewrite my family’s story of lack and struggle and to abundance and generational wealth.

  19. Melissa B January 11, 2018 at 3:11 pm - Reply

    My investment goals are to :
    -Learn more information on stocks, IRAs, etc
    -Learn to properly manage previous finance portfolios and where to invest
    – Save to travel

    Big hairy audacious goal-save 10k to pay down on debt on credit cards

  20. Maxine January 11, 2018 at 3:41 pm - Reply

    My goal(s)
    1. Become knowledgeable on investing through stocks and other resources of additional income
    —->by end of challenge feel comfortable investing in a stock, even if a minimal amount.
    2. Pay off credit card debt
    3. Save 5,000 emergency fund by July

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.