If you've ever wondered how to trade stocks in the stock market you are not alone. There are many different schools of thought on trading - day trading, index fund trading, dividend investing, and much more. In part 3 of The Wealthy AchieveHer Financial Freedom Course, Trade Wages for Stocks, we learn about the financial independence retire early (FIRE) methodology. It's how I accumulated my wealth over the past four years. FIRE is the movement of deciding to work fewer years and retire before 65 years old. It's the ability to live off of passive income well before the traditional retirement age. It's very attractive to those who live outside the box and thrive on having a more flexible schedule. FIRE requires you to save and invest more than the traditional 10% that we have been taught for years because the more you invest the faster you can become financially independent and live a life of financial freedom.
The FIRE community believes that whether you have a financial planner or not, you should be responsible for your financial future and understand budgeting, saving, and basic investing in the stock market. It honestly isn't hard, but we've been taught that we can't do it, only a certified professional can do it. That's where Jack Bogle comes in. Jack Bogle was the founder and chief executive of The Vanguard Group and is credited with creating the first index fund. An avid investor and money manager himself, he preached investment over-speculation, long-term patience over short-term action, and reducing broker fees as much as possible.
Vanguard has extensive and advanced security measures in place. Here is a checklist of actions to take to secure your account:
In the video below, we will walk through the steps to open a brokerage account at Vanguard (founded by Jack Bogle), the first step to investing in stocks on your own. In Trade Wages for Stocks, you can follow along and learn how to use their platform. In general, the steps are as follows:
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FREE Saving Planner (Download)!
I am a serious money saver and I want you to be the same. The first thing I recommend is that you download this free app from Personal Capital to start organizing all of the money you have in different places so you can easily see your net worth and invest more! I’ve used their free tools for years and they are extremely helpful. Download it here: Personal Capital Free Tools
I am thankful you are here to learn and hope you find value here. I am not a financial advisor and this is not advice. I am sharing how I became financially independent in hopes that the information is useful to you in your research journey. Also consult your tax accountant and do your own follow up research :) If you purchase on my Amazon Store links or other affiliate links, you are supporting me and this free information with no additional cost to you. Thank you!