Personal Finance - Choosing My First Stock

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(Edited)

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When I first got into investing, it was after a long period of saving up my funds and with a lot of responsibility placed on my shoulders. Always the responsible one in the family, I was tasked with the care of a number of people dependent on me.

I was raising kids when I was a kid due to a violent and very often drunk single mother. Thus I had to grow up fast and never got to experience the wonders of childhood that many others did which is why I could always understand what Michael Jackson meant when he tried to relive the childhood he never had.

I had been working at a low-paying job in fast food and wanted to better my lot in life. So I first opened a savings account at my bank and deposited a small portion of my pay each week and watched it build up over time. After a few years, it had built up to over the minimum amount I thought I needed in order to begin my investing journey.

I Was Willing To Learn

However, I'd heard horror stories of new people jumping into things and losing their shirts, and that's when I began researching in earnest. I wasn't about to make any moves until I'd learned as much about the subject that I could in order to become an informed investor.

I've always respected the knowledge that older people had as they'd had much more life experience than I did at the time. They were happily surprised that I wasn't the usual know-it-all teen-early twenties jerk and were eager to share what they knew. I learned of the pitfalls that they'd navigated and the benefits of starting out with something relatively safe.

Over and over again I found that many of them held shares in utility stocks for their stability and dividend income. So that went on the list I was building to help me choose my first stock.

During that time, I read everything I could get my hands on, including the WSJ, Barrons, and many of the top financial publications. I also browsed the investing section at the library so much so, that I became a regular with the staff.

After six months of intense research I was ready to pull the trigger and purchased shared in an electric utility and later on, a conservative mutual fund. Both of them did well and I reinvested my dividends into new shares which really helped to build my holdings over time.

Prepped And Ready For Crypto

All of that ended up preparing me well when crypto came around. I'd gotten accustomed to the swings in the market, so wasn't fazed when the Bitcoin price started swinging like a hooker on meth.

These strong hands were strengthened over time and through much education and being willing to take part in opportunity when they came along. The more you take the time to do your due diligence, the more doors to a better financial future will be open for you.

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Most of the times, I feel we have a similar story, you and I. Same family issues, same responsibility at an early age, only difference was, I was battling serious health issues at the same time.
Glad all those experiences prepared you for Crypto, the mental readiness can be baffling sometimes. Good to see how far you've come

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Ain't that the truth! And while I didn't have any physical health issues and never get sick, I was under constant immense mental strain from a mother who placed adult responsibilities on us at a very young age.

You know how it is.

Mom had 5 kids from 4 different men none of which she married. When I was 9 and my older sister was 10, we were often left alone for days at a time caring for the other three kids two of which were infants.

She also expected us to bring money in to compensate for their not being a man around and I was referred to as "the man of the house" at 9-years-old. Me and my sister sold seeds, post cards, and publications door to door and were not allowed to come home until we had enough money for her cigarettes, booze and lottery tickets.

If we didn't have enough money, she'd send us back out until we did...

I'm not looking for a pity party, but we would be out until late in the night far from home pleading with people to buy our seeds so we could be allowed to go home and sleep, only to be put to work cleaning until early in the morning.

We were hungry all of the time because she pissed her money away on booze, cigarettes, and gambling, and refused every serious offer of marriage. I was so hungry that I dreamed of food.

Everything that she did wrong, I learned to avoid as an adult. I don't smoke, drink, and have never done drugs, as they rob you of your money and dim your intellect.

That's one of the reasons I can relate to the Africans sharing how they suffer in their countries and are looking for a way out, because I lived it too.

But you know what @josediccus we made it through because we're strong, have learned from their mistakes, and others depend on us, rarely the other way around. I'm almost always the favor giver here, rarely having to ask anyone for anything.

So when I see your growing account on Hive and LeoFinance, I say "good on him, he fucking deserves it!" and I'm working to be right up there with you someday. Stay strong! :)

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I could relate to your issues, I know what you mean when you talked about your mum. While my mum wasn't doing all that, it was still hellish for me and my brother growing up and it nearly ruined us, coupled with the health issues I had. It's crazy that you had to deal with all that. You're an absolute champion for overcoming all that and didn't end up in the street afterall

So when I see your growing account on Hive and LeoFinance, I say "good on him, he fucking deserves it!" and I'm working to be right up there with you someday. Stay strong! :)

Thanks a lot, well it's taken 5 active years on the Blockchain and I still think there is room for improvement. At the end of the day, I'm happy for how far I've come and how far I still want to get to, it takes a lot but it's achievable.

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Life brings you on a path to take your time before becoming an investor who takes wise decisions. At least you take your responsibilities at a young age.

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