You’ve heard it before – you should invest your money, not spend it. Investing simply isn’t that easy, though.
Popular blue-chip stocks cost well over 1,000 dollars. The entire market is also a complex mess of numbers of letters, literally flying by on a screen. It’s intimidating when you don’t have a lot of money.
Without that starting capital, knowing how to get started investing can seem impossible.
Luckily, new apps and technology are helping people invest with just their spare change. New investment opportunities are making the whole market less complicated.
This all means that there is a smaller barrier-to-entry for people interested in investing. The best part of it is that you can invest by yourself, without having to find a broker.
You are the master of your own finances. Keep reading to learn how to make them work for you!
Apps Will Help You Learn How to Get Started Investing
You used to need to find a broker and pay them to build a portfolio for you. Now, you can do that yourself.
Apps like Acorns or Robinhood allow you to take control over your portfolio. They also allow you to take control in any way that’s comfortable for you. Basically, they’re the future of investing.
Acorns will offer you premade portfolios with different levels of risk. All you need to do is choose how much risk you’re willing to take on. Their portfolios mostly use ETFs, otherwise known as exchange-traded firms. These basically put a middleman between you and an expensive stock, so the middleman can bring down the price.
Robinhood gives you even more control. They give you basic information about stocks, and you choose which ones to invest in. This gives you complete control over your portfolio. They also recently added cryptocurrency exchanges, giving you even more opportunities to grow your wealth.
You Don’t Need a Lot of Wealth to Get Started
Not all stocks cost multi-thousands of dollars. There are cheaper options that cost a couple bucks a pop. While these are often riskier stocks, they also provide the biggest rewards. Some stocks under 5 dollars can double or triple in value.
Most people will choose to invest in middle-tier stocks. AMD, which makes processors and graphics cards, recently reached over 30 dollars after a year and half of struggling to overcome 15 dollars. That sort of rapid growth means a lot to investors, and as its competition struggles, it’ll become a more appealing stock.
AMD, and similar companies, only cost about the same as a good dinner out. That means average people can also take part in the growth and reap the wealth usually reserved for large investors.
Make Your Money Work for You
Investing is about accumulating wealth. You position the money you already have in such a way that it will attract more of it. As an investor, you also get to participate in one of the largest markets there are. US exchanges are currently valued at 27.4 trillion dollars.
Getting the money to invest in the first place is the most challenging part. You can build that initial capital by saving with every paycheck. You can also start a side hustle to fund your investing adventure.
It’s never a bad time to make your money work for you. All you need is the right app, a few starting bucks, and the knowledge on how to get started investing.
Just download one of the above apps, and watch the market for a few days. Then when it’s time to strike, buy a few stocks and watch your wealth grow!
And don’t forget, the stock market covers many industries. You need to stay informed on all of them. You can keep reading here to stay in the loop and be confident about your next investment choice.