Big fan of the show! A quick question here regarding the transition from Micro-investing to stock picking/ETF’s.
16 months ago, I stumbled across your podcast and decided to try out the investing game. Naturally, I started small with the micro-investing app RAIZ before moving to Spaceship due to their no fees under $5000. I stared with a $500 initial deposit and deposited a further $100 each fortnight automatically.
The original goal was to get to $5000 and then move any money over $5000 to my investing account ie Superhero whilst leaving the $5000 in there for a long period of time. The reasoning behind this strategy was to take advantage of the “no fees” whilst dipping my tow in the water with investing before transitioning to stock picking or ETF’s. I’m now over $8000 (haven’t pulled any out) and not sure what to do next or how to move forward. Micro-investing has performed well, with an average of 25% return over the 16 or so months but i’m wanting to transition into other things an gain greater exposure to the markets. As far as I see it, I have 4 options:
a) Stick with my original strategy ie move any money over $5000 to an investment account
b) Leave the money in spaceship and forget stock picking/EFT’s for the time being.
c) Leaving all of the money in Spaceship but ceasing the incremental payments and instead move the incremental payments to Superhero
d) Remove all money from Spaceship and transfer to investing account.
– Whilst i understand you may not be able to give specific advice, I was wondering if you can address this transition conundrum. How would you move forward or how do people make the next step?
– Is there any literature you have come across which explains situations similar to this?
– You guys always talk about getting into the market but what do you do when you want to take the next step?