Neighborhood Investment Club Going Strong After 17 Years, Now Looking for New Members
The very first stock the newly formed investment club bought was Apple. Seventeen years later, that $739 purchase is now worth $43,000! The timing was perfect as the iPhone was about to come onto the market. And we all know that the iPhone has changed the world and how we live in it. Almost a billion and a half people are active iPhone users.
None of the investments that the Cornerstone Common Cents Investment Club has made since then have been so successful. They currently have 20 companies and ETFs in their portfolio, which has a value of $163,000.
The investment club was organized by Rich McFarland, who was volunteering at Cornerstone Christian Academy (CCA) as part of Wayne Presbyterian Church’s mission to support organizations in Southwest Philadelphia. He was teaching math skills to students at CCA. McFarland is a retired investment advisor who feels making investments should not just be for people who have lots of money.
“Investments can be as little as $20 per month,” McFarland said. “The return on investments is going to be better than the interest rate from a savings account.”
There are 18 members who all live and/or work in Southwest Philadelphia. Members expect that they chip in at least $20/month, that they participate in the monthly meetings, and that they are engaged in the decision-making around buying, selling, and holding stocks each month. Members also take turns presenting new stocks.
If you are interested in joining the investment club, contact Donna Henry at 215-729-7441. Meetings are at 4:30 p.m. on the 3rd Tuesday of the month. Those interested are being asked to attend three meetings before they begin investing.