Sharebuilder: Investing for cheapskates
Posted in Money on Friday, March 17, 2006
A few weeks ago, incentivized by my mad dash to accumulate as many Delta SkyMiles as humanly possible to fulfill my skiing addiction, I signed up for a ShareBuilder account to do something good with the money I previously used to pay my car payment until I paid it off last month. I really am impressed with the service, especially the online interface. For the measley sum of $12/mo I get 6 scheduled investments. Thats $2 per trade! Add to that the fact that you can buy partial shares of stocks, it’s really a great program. I’m now investing $300 a month into 6 stocks on the third week of the month. The money is automatically debited from my savings account so there’s no excuse to skip an investment. After only one month, my portfolio is up 8% with some of the top performers being Vail Resorts and Chipotle Restaurants that were both up about 25%. Sadly, Google has not been doing so well, so that’s my biggest loser at about a 5% loss for the month. Though $300 a month isn’t much money, it’s a good start, and in addition to my Roth IRA should give me a nice pad for retirement or a good down payment when I buy my first home.
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