You don't have to be rich to start investing. In fact, if you want to become rich, one way to do so is by investing. Even if you can only spare ten dollars a week, you can still start investing.
Enrollment in Your Employee-Sponsored 401(k) Plan
If your employer offers a 401(k) plan, enroll in the plan, even if you can only dedicate 1% of your income towards it. Most employers will match your contribution to a certain level, so not participating in your employee 401(k) plan is literally leaving money on the table. The money you put into your 401(k) plan is not just going to sit there; it will be invested into a managed investment portfolio, and that money will grow over time.
Low Initial Investment Mutual Fund
Next, with a mutual fund, you can invest in a portfolio of different stocks and bonds all at once. The ability to make multiple investments in one move can make a low initial investment mutual find an attractive option if you are just starting investing. With this type of fund, you will be required to put down a small minimum investment, which depending on the company providing the service, could be as low as $500. Other mutual fund businesses will allow you to make monthly investments of a set amount instead of requiring a minimum to get your account started. Your investments will be automated based on the mutual fund you choose, so you don't have to do much other than enjoying your investment growth.
Purchase a U.S. Treasure Security
A treasure security is a way to keep your money safe and make a very tiny amount of interest in your investment. With government-based security, you can choose different maturity times, from a few months to decades, allowing you to keep some of your money secure and earn a small amount of interest in it.
Stock Market Investments
You can also start investing in the stock market with small amounts of money. There are many apps and websites that allow you to choose the stocks and ETFs you want to invest in. Then, instead of purchasing an entire share, you are able to purchase a slice or partial share. Partial shares have made it easier to get involved in the stock market and start learning how the market works. As your money grows, you can make larger, more informed investments.
Even if you have a small amount of money, you can start investing. Talk with an investment planning consultant, and create an investment plan that will put you on the path towards long-term wealth.