Saturday, November 01, 2008

Lock, Stock and Teardrops

In one more attempt to be an adult, I purchased my first stocks yesterday.

I know very little about the market - sure, I got the terms of high yield, low risk, and crash down, but other than that.......

My company, at a very last minute, offered at least some of us in management the option to purchase stock. I'd been kicking around the idea in the last few weeks just because every stock price was in the toilet. I had heard XM/Sirius was going for $0.06 a share!!! I should have snatched up $100 of that.

But like always, I was immobile on these things. At least until it came right to my door - literally. The company had mailed me all the info I would ever need to make my decision.

There is no cash out of pocket, though I could have paid for it that way. No, it will be by payroll deduction. My financial planner seemed to think that was best, and I heard that from my peers and their financial planners as well.

I know, I'm dropping the term "financial planner" like I'm Jed Clampett. Even Jethro had more business savvy when it comes to the market, I'm sure.

The stock price I agreed to purchase at was locked in at market close yesterday. Naturally, I was hoping for some big drop - but there was none. Dow was up - so was my stock. The latter by only a quarter of a percent, but up by about 5% from the beginning of the week.

It's not a large amount by any means. We can only purchase up to 10% of our annual salary - which I did. It doesn't seem I'll be dying anytime soon, so I might want to have some money accruing somewhere.

Time will tell people. Time will tell.

song by: k.d. lang

1 comment:

RJ March said...

good luck, there, bro-- seems like a good time to buy, no?