How To Actually Invest (Steps to Investing w/Robin Hood)

Intro

You might have some general knowledge of investing and understand the benefits. When it comes to actually investing your money, do you know how? Here’s a step-by-step guide on how to set up a brokerage account with Robin Hood.

Creating the Account

First things first, you want to go to robinhood.com where you will make an account. They will ask for your email, phone number, date of birth, citizenship, and social security number.

Home Page/ Looking for a stock

This is what the home page of Robin Hood looks like. On the right-hand side, you will see the stocks you have as well as the stocks you could potentially buy. They also have a search feature where you can look for stocks you have an interest in buying.

Buying A Stock

You can buy in dollars or shares. If you buy in shares then you're buying one share. There will be a price for each of the shares you can buy.

If you give a certain amount of dollars then it will automatically give you the number of shares you could get with the dollars you contribute.

The buying power is how much money you have contributed and earned while using Robin Hood.

Tracking the Stock

The value of the stock you buy will increase and decrease in value over time. The analysis rating section gives you information on what people are doing with the stock you’re going to buy. According to this photo, a majority of people hold the stock.

The earnings section gives you the estimated earnings as well as the actual earnings from the stock.

Key Statistics and Related Info

The key statistics give a good range of information about the stock.

The related lists provide you with stock similar to the one you’re going to purchase.

The News is there to give you information about the most current events relating to companies and industries.

End

In short, it’s good to know about investing and use those skills to actually invest. There are many other websites you can use to make an account including Charles Schwab, Acorn, and more. With this guide, you will be able to take the first steps in improving your finances and becoming financially literate.