In January 2022 I made a decision to start investing $5 a day into the stock market and into crypto to see if you could grow a portfolio with only investing $5 daily. After 2 years of consistently investing, today I bring you my results as of January 2024!
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✨ The Challenge: In January 2022, I embarked on a unique financial adventure – investing just $5 every day. This experiment aimed to demonstrate the power of small, consistent investments over time.
💡 The Inspiration: The idea struck me as I sipped my daily Starbucks. What if, instead of spending on coffee, I invested that amount daily? This thought was the seed for my $5 daily investment challenge.
📊 The Approach: I diversified my approach – half into the U.S. stock market and half into cryptocurrency, particularly Ethereum, to explore different investment avenues.
📈 Stock Market Strategy: I chose VOO, an ETF representing the S&P 500, allowing a diversified portfolio in top U.S. companies without the risk of single-stock investments.
💰 Crypto Choice: Ethereum was my crypto pick, a deviation from the popular Bitcoin, to add variety to my portfolio.
🧮 Calculating Investments: Addressing the non-trading days, I adjusted my investment strategy to ensure a consistent $5 daily investment equivalent throughout the year.
🔍 Platforms Used: I started with Robinhood but also recommend WeBull for its high interest on uninvested cash, enhancing the investment strategy.
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📅 Results and Reflections: I share detailed results of my investments, including the number of shares accumulated, market value, average cost, and total returns in both stock and crypto investments.
💭 Personal Thoughts: Reflecting on the lack of financial education in schools, I emphasize the importance and impact of starting to invest early.
🔥 Join the Challenge!: I invite you to start your own $5 daily investment journey and share your progress for mutual learning and encouragement.
👉 Subscribe for More: Stay tuned for continuous updates on this journey and more insights into smart investing.
#investingchallenge #financialeducation #investing
*Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
