About half of Americans own stocks. They understand the secret to getting wealthy and financially healthy.
The U.S. stock market has been on steroids. It’s gained about 200% since 2009. The rich (and many people in the middle class) have figured out that you can make money without getting off the couch.
You can do it too. Here’s how:
1. Enroll in your 401k plan at work
If your company offers any sort of retirement plan, get in it. It’s a painless way to save and invest.
2. Invest your ‘extra’ cash
Did you get some money for Christmas or Hanukkah or a work bonus? Ask yourself if you REALLY need to spend it on a new smartphone/Star Wars toy/drone. Imagine how much happier you’ll be if you used it to make even more money.
3. Download an app (or two)
An explosion of new apps have made buying and selling stocks cheap and easy. If you’re not sure where to begin, check out the app Robinhood. There are no fees on Robinhood when you buy a stock like Facebook (FB, Tech30) (current price $105) or a popular fund like SPY (current price $205).
4. Talk about money with friends
Tired of playing Words with Friends? How about playing “let’s make money” with friends.
Form an investment group where you can learn and trade ideas. For inspiration, check out CNNMoney’s profiles of the Stock Wizards in Cincinnati, Ohio, and the Ellerbroek family in the Midwest who talk about stocks at the dinner table with their kids.