Many people believe that you need a ton of money in order to invest. However, with as little as $150 initially and $50 a month after that you can get your investing started early by opening an account.
It’s important to note though, that opening an account with $150 and adding $50 every month will not make for an adequate retirement. It’s important that over time you invest more money and continue to build your wealth and advance your retirement picture.
Starting your investment journey with $50 a month is a great way to get used to consistently putting away money for yourself in the future. Not only can you get the benefits of compounding interest, but you will also be able to motivate yourself by watching your money work for you.
Investing is not just for rich people. Start your investment journey today!
This is meant for educational purposes only. It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions. Investing involves risk and the potential for loss. There is no guarantee that any investment or strategy will be successful. (12/20)