This blog post is for people who want to invest in Tesla, but have no idea how to invest or what it means to invest. In other words, this post is for who I was last year. I had no knowledge of the stock market (still consider myself a newbie), and when Elon shared my open letter, commented on my Medium article last year, it boosted my jewelry sales up and I wanted to give back.
So I asked around and was told to check out Stockpile. It’s a micro-investing app where you pay a buck ($.99) per transaction. You can start with $5 and just micro-invest your way up to a full share. So, I was doing that right when I started my new job last year and suddenly I had to pay a bill. I had to sell.
This made me realize something: I can’t afford to invest at this time. Investing is a great way to show your support for a company you believe in, but you can not take care of others until you are able to fully take care of yourself. This means, making sure you have a steady income and making sure your bills are paid. If you have a family, make sure they are fed, clothed and taken care of first.
Right after Thanksgiving, I had a workweek of 101 hours. I had exactly enough extra cash after paying my bills to invest in Tesla. So I did. And I still have the share and plan to hang onto it for the long run. But, I didn’t use Stockpile, I used another app called Robinhood.
— ????????Johnna???????? (@JohnnaCrider1) December 7, 2018
Robinhood makes you buy the whole share. And it’s 100% free. They do have a paid option, but I honestly do not know enough about margins or have the $1000 at this time to open an account for that option. My advice is to learn about that before you dive in.
Types Of Tesla Investors
There are, from what I have seen, are three major types of investors.
1. Shorts and Bears. These are people who profit when Tesla stock goes down. Bears are the term used to describe those who do not support Tesla while Shorts are those who actively promote its failure. They bet against Tesla and honestly, actively promote its failure. They celebrate all the negative headlines because these headlines do affect the stock market.
2. Bulls. Bulls are people who are for Tesla and are holding their stock until the value reaches $2500, $1T, or whatever their goal is for it to reach. They have many different reasons but one core reason is that of their faith in Elon Musk and appreciation of all the good things Tesla has done for the environment.
3. Fans of Elon Who Don’t Know Much About Stock. This group is who I am addressing. I’ve had conversations with many people about investing just to support Elon. I believe in Elon and admire him for starting Tesla, SpaceX, TBC, and just for hanging tough despite all the critics and negative press. His “never give up” mentality is what inspired me to write that open letter last year.
If you are new to investing, please make sure you can afford to invest. Whether it’s micro investing using apps like Stockpile or Stash, or fully investing via apps like Robinhood. Don’t dip into your rent money. In fact, before you jump in, do your research.
Don’t freak out over the intense swings of the Tesla stock. It’s volatile, meaning, it’s going to be bumpy. If Elon blinks the wrong way, the stocks go down. If he blinks without moving his eyelids, the stocks go up–this kind of thing. In fact, the only reason you should be monitoring the stock price is to buy more when it’s low.
Follow people like Ross Gerber, who often tweets about stocks and is the CEO of Gerber Kawasaki.
When I asked Ross Gerber if he had any advice for the new investor, he gave this wise piece of gold:
“Work with a financial advisor. Have a diversified portfolio. Tesla has risk and might not be right for many investors. Use retirement plans. Tesla in a Roth IRA, for example, would get you all tax-free gains in the future,”
Ross is in the business of stocks and several people have told me nothing but positive things about him. So be sure to look into retirement plans and financial advisors if you decided that you want to start investing in the stock market.
Supporting Elon is great, but you need to remember to support number one. I may sound repetitive here, but before you invest, make sure you can invest. Take care of yourself first. As that old saying goes, you can not pour from an empty cup.
Also, you will come across shorts and bears. Some will troll you. Don’t be like them. Remember, life is too short and precious to worry about what someone on Twitter with a fake profile photo, 4 followers and a timeline full of hate thinks about you.
About The Author
Johnna Crider is one of the Tesla Social writers. She is inspired by Elon Musk and Tesla as well as the many people in the Tesla community who are positive and care about the world we live in. Johnna is also a jewelry designer who gifted Elon one of her designs and you can learn more about her art here.
Tesla Social is mostly about the social aspects of the Tesla community. There are many stories like this that bring the community together and have fun. Do you have a story to share? email us at: firstname.lastname@example.org You can also tweet to us at Tesla Social or reach out to Johnna.
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