Edwards Family Empowerment

How To Invest ~ Part 5 Written by Melica Niccole Author, Stock BossUp App Mentor, and Blogger  The  fifth step  is the most important step of the five. Have fun while investing. A great way to have fun is to only invest what you are able to invest and that can be used as recreational funding activities. If you are strapped for cash or only have money for rent and utilities, please pay your rent and utilities first. The stock market has been around for years and will be here after your responsibilities get paid. In order to have fun, you have to make sure your basic needs are met. As discussed in part 4, investing with friends and family can be fun; from discussing short term and long-term stock options to stock splits and reverse stock splits. The other fun thing is getting other people’s perspective about a stock. There are many different reasons why people invest in certain stock. Some reasons are because of price, history, future, volatility, and just because it seems ...

  How To Invest ~ Part    4 Written by Melica Niccole Author, Stock BossUp App Mentor, and Blogger  The  Fourth Step  is to create or seek an investment support group to discuss stock. My family and I have a text messaging group to discuss stocks to look into. This group includes my sisters, nieces, and nephews. My mother has also joined the stock talking discussions and does research on what individuals discuss. We discuss electric vehicles, pharmaceuticals, cryptocurrency, technology, and more. A lot of us are at different stages of investing, from just starting out to 3 years into investing.  I am saying this to let you know that you don’t have to be an investment guru. You just have to want to invest, develop a plan, implement that, and invest. A support group gives you depth to surface information. They provide context to what you know and what you think you know. They may also have questions, which helps you establish a better investment pla...

The  Third Step  is to research companies via the company website, Google, brokerage website/app, and other methods you found useful. This can be the most challenging step because it’s a self-directed search, which can be tedious and time consuming. It truly does not have to be tedious. I would suggest researching products you currently buy and the companies who make them, such as household products, apparel, consumer companies, technology, and energy. Examples of some companies listed on the stock exchange are: Target, Lucid Motors, Apple, Discover Card, and Airbnb. That’s only a few companies listed; however, there are many more. In your research, make sure you understand what you are reading. Some information can be confusing, but you have the World Wide Web at your figure tips. Use all your resources to help you invest in your future. When I first started investing, I was a bit confused about a stock split, reverse stock split, market orders, limit orders, calls, puts, sup...

Step two  is to set up/ register your brokerage account. When you set up your account, you will be asked to provide your social security number. This can be off putting to some people; however, this is for tax purposes. The brokerage company has to provide you an end of the year tax statement that identifies your gains and losses. As long as it is a reputable company, you should have nothing to worry about. While registering your account, you can include beneficiaries, just in case. I like just in case scenarios because who knows what life has in store for any of us. So we plan for the future now to make sure our family is provided for in our absence. This is also a great way to create generational wealth. Sometimes, families have to start from scratch when an unfortunate situation has occurred because a plan was never put into place. Let’s start planning and helping our family plan for these unfortunate situations to make life much easier, at least financially. If you are consider...

  INVESTING Written by Melica Niccole Author, Stock Mentor, and Blogger    This is the question that I get asked a lot, which is a very important question. Below, I provide you with the first step in investing. Now these steps can be modified or adjusted to meet your needs, so please do not feel as though these are the only steps to investing.   The  first step  is identifying the brokerage company you would like to work with. This will assist you with choosing the best company that meets your needs.    Choosing a brokerage company is very similar to choosing a bank and a checking account. Most people tend to  choose a bank and bank account that offers them some sort of benefits. Same with a brokerage company. Some of theses befits could include low fee/no fee trades and low fee or no administrative cost. Some accounts may have fees associated with owning the account. Make sure you know this information before you open up a...

Let’s talk investing. The last four steps can be done simultaneously, but I am going to address them separately. Baby Step 4 involves investing. You should invest 15% of your gross household income into Roth IRAs and tax-favored retirement plans. Why 15%? You can work on the last 4 of the baby steps simultaneously: pay off your mortgage, save for college for your kids, etc. while investing at the same time. 15% is a safe rate to invest. Once you have paid off your home and your kid’s college fund is fully funded you can always increase the amount that you are investing. One thing you should check on is whether your company offers a Roth 401(k) option. Companies sometimes offer matching funds for your 401(k). What this means is that for every dollar that you put into your Roth 401(k) your company may match that amount. This is free money. If you are on this step, you should be maxing your 401(k) option. Invest your entire 15% here. The best part about this is that the dollars in...

Investing in the black community is both novel and perilous; despite that, we must invest in ourselves, because the truth is no one else will. This organization is designed to channel resources to much needed causes of wealth creation in our community. Some of my favorite places are Normandale Mall in Montgomery, Alabama, and downtown Selma, along with Bush Blvd in Ensley, Alabama. These to me are beautiful places with character and history. Due to a lack of capital, they are left to be abandoned and to decay. This organization will not only help to strengthen our Family but also rebuild communities.  By: Renardo Edwards