The market has opened up for those with a smaller budget to invest. Here are some of the ways that make it possible to invest with just a little money without having the need for an ability to forecast markets.
Before you can reap the benefits of a big financial reward with investing, you have to start somewhere.
If you don’t have the financial means to go big from the start, you may think that investing won’t be worth your time. However, some opportunities don’t require you to part with $10,000 or more just to open an account, there are nowadays ways to invest $1,000 or even less.
The market has opened up for those with a smaller budget to invest. Here are some of the ways that make it possible:
Investing apps
Some apps do not require significant initial investments. With a small recurring payment, you can start a snowball rolling that results in an annual investment that you could not have made all at once.
If you invest just $50 a month, by the end of one year, you will have invested $600. Even if you need to start smaller than that, you will end the year with more invested than if you hadn’t started at all.
Maybe you can stop buying coffee from Starbucks, and put that spare change into an investment account.
Robinhood
Not taking from the rich, or the poor, Robinhood doesn’t charge a brokerage fee for trades.
It’s only available online or via the app, which means they can offer free trading. All you need to get going is a cell phone, internet access, and a social security number. Once you are up and running, you can be trading with your spare change.
The trading hours are limited, so if you want to get a bit more out of the experience, and you can spare $10 a month, you can use Robinhood Gold. This option allows you to gain access to pre and post-trading hours and instant deposits.
Betterment
A good app for beginners because it helps you to select stocks based on details you provide. This includes questions about your age, income, how much risk you wish to take on and more.
After Betterment has taken a look at who you are, the app will suggest stocks based on their advanced technology. There is also ongoing advice available to make sure you stay up to date.
You only need a dollar to start, and the fees are low; expect it to be under 0.35%. This will leave you with more money to invest.
Acorns
For as little as one dollar a month, you could be putting your spare change to use.
There is no minimum balance needed to set up an account, and once connected to your bank card it will round up any purchases and invest the difference.
For instance, if you purchase groceries for $48.20, the app will deposit $0.80 into your investment portfolio. Every dollar in your account will be invested into ETFs (Exchange Traded Funds).
It’s a popular app with over 3.5 million users already. Using your spare change is one of the easiest ways to invest with just a little money.
Stockpile
Stocks by the dollar is a term that should be appealing to anyone with just a bit of spare funds to invest.
You only need $5 to get going, and you can start by buying fractions of shares. Signing up is free, and each trade is just $0.99. With no monthly fees to pay, it’s a good option for those on a budget.
Invest in big companies such as Amazon and Coca-Cola but without the need to buy whole shares at a time.
M1 Finance
One of the easiest ways to build wealth with low investments is through M1 Finance.
Investing is automated and simple, not to mention free to get started. Once you add money to your account, M1 Finance will take care of the hard part, and invest it in your portfolio intelligently.
Having been featured in Forbes, Bloomberg, Business Insider and more, they have a solid reputation.
Cryptocurrency
Cryptocurrencies are considered to be a more volatile investment, and as with any trading investment, you should educate yourself on some of the processes before jumping in. Still, if you’re in for the long-term, cryptocurrencies can yield some sizable profits. There’s also a chance that your investment could grow at a greater rate than traditional trades.
Some alt-coins are available for a couple of cents, and even below that. You’ll need to set up a wallet. You can get started by downloading an app such as Coinbase. Do your research, as there are plenty of disreputable companies out there.
There are many options when it comes to investing money, even if you don’t have the budget to make a big initial investment. You can start small, and over time you might be pleasantly surprised at how far your investments have come.
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