We set the report straight on widespread misconceptions that may very well be leaving you out of pocket.
Fable 1: You want numerous cash to speculate
Fable busted: You can begin investing with as little as $5.
What could also be shocking about investing is how little cash you want to get began. It takes simply $500 to put money into shares and exchange-traded funds (ETFs), however you possibly can turn out to be an investor for a fraction of that.
Micro-investing apps reminiscent of Raiz and FirstStep spherical up the free change on purchases and make investments the cash throughout quite a lot of readymade portfolios made up of ETFs, or you possibly can develop your portfolio with common deposits. With a Raiz account, you’ll must accumulate $5 earlier than the cash is invested.
When you’ve got greater than a fiver to spare, CommSec Pocket permits you to put money into seven themed portfolios – additionally comprised of ETFs, with as little as $50.
Certain, these small sums gained’t see Warren Buffett shedding sleep. However micro-investing is usually a stepping stone to greater issues as you acquire confidence by investing.