Get your share of a rich future
If you're already into shares, this one's a doddle. A nice way to wrap up the Act stage!
You’re on the Act home stretch now - banking done, super shifted, now it’s just your shares to sort.
Nice one!
Given you’re looking at switching shares, I’m going to assume you’ve already got a brokerage account and are familiar with the process to buy or sell a share.
Which saves a lot of explaining (phew!)
Side note: If you’re not already across it, MoneySmart has a comprehensive guide. Though they do quote $20 per buy order as the typical brokerage price, which sounds too high to me. You can get plenty of platforms with brokerage of $10 or less per trade.
As discussed in the Planning step for shares, this is one area where tax really comes into play. So, if you didn’t already, consider getting tax advice especially, along with any other advice you feel you need.
Done that? On with the show…
Update recurring orders
Buying small allotments of shares frequently has become more and more popular, particularly with the rise of the Financially Independent, Retiring Early (FIRE) movement.
Some services automate this process for you. Usually they buy the same shares each time, at whatever frequency and to whatever amount you’ve specified.
If you have such order/s in place, update the share ticker you’re instructing your broker to buy for you. And that’s it! You’re done.
If you’re going to sell
Now, this is not for everyone. Again, tax comes into play.
I was personally willing to pay that tax, but no shade or shame from me if you’re not in a position to do the same.
…but if you are, then it’s as simple as putting in a sell order for the shares you want to offload.
Once they’ve settled and the cash is in your account, set aside whatever you’ll owe for tax so you’re not caught short when it’s time to submit your return.
Then, you can buy replacement shares free of fossil fuels with whatever’s left.
And Robert’s your father’s brother!
That brings us to the end of the Act step 🥳
You’ve done a stellar job! Big pats on the back.
There’s just a couple of steps left in this adventure, and they’re really important.
The first - Check - because it makes sure all the work you’ve done isn’t undone by a sneaky change.
The second - Explore - because you might find a way to 100x the impact you’ve had already.
You’re in for a treat!