How To Start Investing with Only $100?
It is high time you thought about building wealth over time.
You must have some investment goals before you start building some wealth. If you are looking forward to building wealth over time, then you need to first start investing. If you are a new investor, you will be wondering how you will get started. But you do not need to stress at all as you can get started easily, you just need to have $100. Yes $100 is not that huge you just need to have a bare minimum amount and you are good to go
Understand your investment objectives
Before you invest any money, you must have investment goals at the back of your mind. For example, you need to check if you want to save for retirement or just want to build up an emergency fund. Once you understand your goals when determining the investment type which aligns with them.
Have a brokerage account
You must open a brokerage account once your goals are determined. The brokerage account is an investment account type that will make it very easy for you to buy or sell investments. There are plenty of online brokerages out there which offer low-cost investment options.
Choose your investment type
You need to choose an investment that is low cost and has huge potential for growth if you are investing a small amount like $100. You can also go for a low-cost index fund which is a mutual fund that will track a specific index.
Set up your automatic investments
If you want to build wealth over time, then you should go for automatic investments. It means that a set amount of money would be transferred from the bank account to the brokerage account automatically every month. Even if you just can afford $10 a month, you can go for this automatic investment and get your investment started.
Even if you want to start your investment with $100, you can do so, and you just need to determine your investment objectives. This is all you need to know about investing just $100. Once you start investing you can reinvest the interest that you earn on your principal amount. It is always the first step which looks difficult, but the future always looks right.