An app called Stockpile can help users start investing, as well as give stock as gifts. This includes giving someone an e-gift or giving them a physical stock gift card.
The CCO of Stockpile, Dan Schatt, sent KENS 5 five suggestions for first-time investors to be successful:
- Take the long view: Despite booms and busts over the last 100 years, the stock market has historically performed better than bonds and real estate.
- Invest at your comfort level: Make sure you're only investing an amount that you can afford to lose.
- Diversify your investments: Don't put it all in one place! Diversification is important in any portfolio.
- Actively follow your investments: Follow the news, as well as the quarterly and annual reports of companies you have invested in.
- Invest as consistently as you can: Nobody really knows what will happen in the future, it’s very hard to be successful by timing the markets.