Wednesday, November 7, 2012

Investing On Citiseconline For The Future

The concept of investing in stocks is no longer new in our family. After all, our mother invested in few blue-chip stocks when she was still alive. However, I never really understood how it worked before. What I initially understood was that you buy a number of shares at a particular price.

Last year, I got interested with investing in the stock market but I don’t really have any clue on where to begin much less find a good broker to rely on. It was only this March that I was able to encounter Citiseconline, an online stock broker, that is based in Ortigas, NCR. The company has been around for some time already and it got good reviews from a lot of local personal finance gurus.  Before enrolling to their Easy Installment Plan (EIP), I need to brush up with the investment jargon so I self-studied for  roughly about three months to understand the basics (and until now, I am still studying stock market to understand it further).

Being a freelancer, paying for my Pag-ibig and SSS fund is simply not enough to make me breathe easy throughout my retirement. Besides, the pensions that these two organizations currently give are not enough for an old person to live comfortably. Moreover, given my profession as a freelancer, I am not entitled to receive any separation pay when I reach the ripe age of 60. This is the reason why I see investing in the stock market as a great vehicle for me to prepare for my long term goal- my retirement.

Before I decided to invest in the stock market, some people told me that I could loose a lot of money. I got curious and went ahead with my research anyway. Personally, I don’t get into anything without trying to understand them first. My due diligence took me about two full months before I was able to somehow understand how the stock market works and what stock investing is all about. Contrary to what most people think, investing on stocks is  entirely different from stock trading. Stock trading means that you have to buy and sell stocks frequently while investing means you buy stocks regardless whether the market is good or bad and keeping it for a few years.

The cool thing about Citiseconline is that you don’t need to spend a lot of money in order to start investing on stocks. I thought that you have to spend  several thousands of pesos in order to start an account with this stock broker. With its Easy Investment Plan, you can buy stocks with a starting capital of 5,000PhP. As soon as you deposit the money, you are entitled to buy stocks on a regular basis. The rest is up to you. Once you get the hang of it, you will have fun tracking the performance of your stocks.  You might think that my idea of fun is weird but this is just me.

However, if you are a low risk-taker, then investing in stocks is not for you. The market can be very volatile thus the value of your stocks may  go up in one day and may go down the next day which is enough to give you a heart attack. The secret to investing in stocks is to keep it for the next 10 or 20 years. Thus, investing in the stock market is a great way to prepare for your long term goals. However, since this particular type of investment is a bit risky, this is not for everyone so it is important that you assess whether you  are willing to risk your money for higher returns or not. 

If you are interested, you can visit their website to find out the basic requirements on how to apply for your very own investment account. You can check their FAQs page for more details. All I can say is that they will really entertain you no matter who you are and even if you do not make a personal appearance in their office. I filed for my application by sending my requirements through snail mail and I got a reply within a week.  Good luck!

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