Some people choose to invest in the bank. Some people choose to invest in real estate. Some people choose to invest in life insurance. Some people choose not to invest in anything. Last Monday, I chose to invest in the stock market. It took me a year before doing so but now that I finally did, I only have high hopes and aspirations.
I decided to invest in the stock market directly through COL Financial (www.colfinancial.com), an online broker. This way, I get to have more control over my money and less fees to pay as compared to when I invest in the stock market indirectly through mutual funds. Just to be clear, I have nothing against people who invest in mutual funds. I even think they have an edge because their money is managed by financial experts. I just prefer an online broker over a traditional broker, that’s all. Plus, I like the accessibility and convenience it gives me.
Opening an account with COL Financial is easy and doesn’t require a big fortune. There are three types of account on offer: COL Starter, COL Plus and COL Premium. Each account type has different features; I suggest you visit the site to know more about them.
Anyway, I signed up for a COL Starter account whose minimum investment is just P5,000. The hubby and I went to their business center in Ortigas and filed my application. It was approved in minutes! I was issued an account number (which would also serve as my username) by the kind service associate and was told that my password will be emailed to me within the day. I received my password via email in the evening and I immediately logged into my account to have a look and change my password for security purposes. I also transferred more money to my COL Financial account through BDO online banking. (Yes, you don’t have to go to their business center to fund your account as you can do this through banks.)
I am proud to say that I now have a stocks portfolio after buying some shares from “good companies”. I plan to invest regularly and apply strategic averaging method (SAM) as advised by stock market experts. Right now, I’m researching more on how the stock market works because there are tons of things that I still need to learn. I also plan to write more about my experience and share new learnings on this blog in the coming days. Stay tuned for that!
I’ve always believed that we should never put all our eggs in one basket. And that we should invest while we’re young and able. After investing in RTBs last year, I think I’m now ready to invest in the stock market. I also want to invest in variable life insurance, but that can wait, for now. Maybe next year, I’ll give it some serious thought already.
Wish me lots of luck, friends!