This post brought to you by LikeFolio. All opinions are 100% mine.
One of the most difficult things about getting into stock investing is understanding what makes a good company. Is it their profit margins? Their earnings per share? Their liquid cash? The vast majority of us will never understand what all of this means, but what we do grasp is what products we like to buy, and that’s where a service such as LikeFolio comes in.
Investors such as the infamous Warren Buffet have said for ages that you should invest in companies you like and use their products, but you may not realize just how much you truly like a company. With LikeFolio you can now connect your Twitter and Facebook accounts to a service that will scour all of your activities as well as those of whom you interact with and see which products you already talk about that are made by companies you can invest in. You can then set up a mock stock portfolio to see how your investment would be doing, and look back to see where you would be at had you decided to invest a year ago.
Take the recently released Nexus 5 for example. We’ve all been waiting for the announcement of this phone, and eagerly anticipating the upgrade to Android 4.4 KitKat, but what if you had taken some of that love and put it into a $2,000 investment a year ago? According to my activity on LikeFolio I would have seen a profit of $987 by now should I choose to sell it.
Should you decide that it actually looks like there is an investment you should be making after doing some research, LikeFolio has partnered up with TD Ameritrade to help you get started down the road of actually investing in stocks.
Investing is something that strikes fear in the heart of many people because they feel it is just too incomprehensible to understand. With LikeFolio it tries to even the playing field so that you can see what is already in your life, and investing in the things you already love.
LikeFolio is free, and it is interesting to see which brands really do dominate you conversations. There were definitely a few that surprised me.
So what are you waiting for? invest with LikeFolio
This post was sponsored by LikeFolio.