Bryan C. Fleming

Well I’m happy to say to I just checked my ING direct account. There’s $1,056.34 in it. I think that’s impressive because if you read from the beginning, we started with just one dollar.

So if you’ve been playing along you should have a thousand bucks too. Hopefully you’ve set up your ING direct account and you’ve decided to be a Gold, Silver, or Bronze saver. If you have then you’re seeing your bank account grow and grow. It’s fun isn’t it?

I haven’t written about the Million Dollar Savings club in a while because everything is so automatic. That’s what I like about ING Direct and other online savings accounts. Everything happens automatically without even thinking about it.

Last time I told you I had some big news when I broke $1,000 and here it is:

If you’re any good at math, you know that we’ll need to earn more than 4% on our money to have a million dollars (It’s called the Million Dollar Savings Club right?). Why not look to the stock market? Many fortunes have been made (and lost) in the stock market. It’s a great place to look for investing money.

The only problem is you can’t really play the stock market if you have only $1,000. Why? Because each time you buy or sell a stock you pay a commission fee. These can be $8, or $10, or $20. You’d have to make some pretty impressive gains to just pay your commission fees. So it doesn’t make any sense.

But what if we didn’t have to pay commission fees? We could grow our fortune with the stock market and learn in the process. Read the last part of that sentence again because it’s important. Doesn’t it make sense to make all your mistakes with a small fortune than with a big one? Let’s do all our learning when we’re still small. That way we don’t make big mistakes down the road.

Well, I found a service that will let us set up a stock trading account with only $1,000 and we won’t have to pay any trading fees. It really is a breakthrough in how stocks are bought and sold. Now we can play with the big boys. Long live the Internet I say!

I’m setting my account up today and I’ll report on my findings soon. If you want to set up an account also you can do so here. So stay tuned, things are about to get really exciting. Until next time, keep on saving!

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