Last month, we hosted a Sweepstakes offering $500 of free stock in your favorite company for referring friends and family to Stockpile. The more people who opened accounts with your referral link, the more entries you received in our contest.
Well the results are in, and the winner is 27-year-old Kiera!!! We sat down with Kiera and asked her a few questions about her experience with Stockpile.
Q. Hi Kiera, congrats on winning our Stockpile sweepstakes! What do you do for a living?
Kiera: Thank you, ma’am! I am very excited to have won. I am a medical assistant at a doctor’s office near where I live in Alabama.
Q. How did you first hear about Stockpile?
Kiera: I heard about Stockpile from an online ad, and I actually bought my sister a Stockpile Amazon gift card. After that, I opened my own Stockpile account. I had never bought a stock or opened a brokerage account before investing with Stockpile. I was a first time investor!
“I am excited to have won… I was a first time investor!” – Kiera
Q. How much did you know about investing before opening a Stockpile account?
Kiera: I knew nothing. I don’t really have time to keep up with daily financial news and I didn’t know what a stock was before opening up an account with y’all. Now I check my account almost every day and love to see if my stocks have gone up.
Q. Why did you choose $500 of the SPDR Dow Jones Industrial ETF ($DIA) for your win?
Kiera: At first I thought I wanted to select Amazon ($AMZN) stock because I am familiar with the company and I had bought my sister a gift card of that stock in the past. When I told my sister that I won and that I was thinking of choosing Amazon, she said that the stock has been going down recently and to look at the Dow instead. I didn’t really know what an ETF was, but I trusted my sister and it has worked out well.
Stockpile: We agree, an ETF is a powerful diversification tool and it is smart to not put all of your eggs in one basket! For anyone reading this who wants to know what an ETF is as well, learn more about ETFs here.
Q. What is the most frustrating part about investing?
Kiera: I would say that the most frustrating part is not really knowing where to start. There is just a lot of options and you don’t really know which is the best choice for you, what you should invest in and if the stock your choose will be the best route for your money. Stockpile has helped me though because I can put in a little here and there, and there are resources on the app if I have any questions. I like how if there is something I don’t know I can find out about it on Stockpile.
Q. What is your favorite part about using the Stockpile app?
Kiera: I love how it’s just easy to use. As a Millennial, I would get turned off if I had to sit down and look over a bunch of financial papers. I love that everything is through the app or website. I also really like the colors; it is fun and inviting and doesn’t look as stiff as traditional financial things. The branding isn’t as intimidating and makes me think I can do it too.
Q. As a young woman of color, what do you think we can do to introduce investing to minorities and females to get them started?
Kiera: A lot of minorities think that investing is not for them because it can be confusing. The stereotype is that you have to be really rich to invest or that you have to be well-educated. It’s not true anymore with apps like Stockpile. I think it would be helpful if y’all went to schools and showed kids that they can start investing early and tell them that the stock market IS for everyone.