Empower is offering free financial consultations until October 31, 2024, for anyone with over $250,000 in investable assets. I wanted to share my experience speaking with them and how I began my investing journey. If you complete two video calls by the deadline, you’ll receive a free $100 Visa gift card. There is no obligation to use their services afterward.
The Start Of An Investing Journey
I’ve been a DIY investor since 1995 when I first opened an Ameritrade account with my dad’s help. The year before, he had sat me down at the breakfast table and explained what the various ticker symbols meant at the back of the local newspaper. I was fascinated.
I started with $500 in my online brokerage account, mostly money I earned working at McDonald’s for $4 an hour. Then, like a coke fiend chasing his next hit, I dove into day trading. Within six months, I lost most of my money.
All those hours standing in front of a hot stove making Egg McMuffins and Big Macs were for nothing! I wish I could have spoken to a financial advisor to give me some guidance. My dad was good at telling me about the basics of stocks. But he didn’t explain to me how to invest or the purpose of investing.
As a father now, I also realize kids often listen to an instructor more than their parents. I can’t tell you how many times I brushed off my wife’s advice, only to agree later after listening to an expert share their same thoughts online!
The Rise of the Stock Market Addict
You’d think I would have learned my lesson in high school and college about the dangers of day trading. But no, my stock