Today, less than half of the American population has money invested in stocks.
This isn’t a good thing – especially when you also consider that 1 out of every 3 Americans has no money saved for retirement.
Investments are a crucial way not only to make more money on what you’ve earned, but also to save and provide for yourself and your family in the future.
These days, people simply aren’t investing enough.
The reality is though, there are lots of affordable investment opportunities for every budget.
Here, we’ll show you some of the best ones, no matter how much you have to play with.
We know it can be tempting to spend that paycheck as soon as you get it!
Luckily, today there are many programs that take the work out of saving (and the temptation to spend away from you!)
Many banks today have programs that round your credit/debit card purchases up to the nearest dollar, putting the extra funds into a savings account.
Also, if you earn any “extra” income – like from a bonus or a side gig – use that as your “investment money.” That way, you’ll be able to keep up your current quality of life, and still have money to invest with!
Exchange Traded Funds are a great solution for those who can’t afford a financial advisor but still want to make smart investment decisions.
In a nutshell, ETFs are created to give you similar results to major investments on the S&P 500 without the risk and the cost of buying 500 different stocks!
Basically, they’re a package of diverse investments, meaning that it’s easy to find a solution that will help you to invest in the sectors you’re interested in.
If your employer offers a 401(k) matching plan, that’s a great way to get your feet wet when it comes to investing.
Still, we advise you to be very careful with the choices you make here.
Look at the history of your 401(k). Ask yourself: has it done better than the S&P 500?
Have you read the prospectus about the potential investments? How has past performance gone?
Finally, we advise you to also take a careful look at any fees associated with your 401(k) plan.
These are great investment opportunities for those who want financial advice on any budget!
You may even be able to get investment plans and strategies that are automatic and in line with your financial goals. You can find options for one-off trades and longer term plans.
Many of these brokers don’t require a minimum investment, meaning they’re right for any budget.
We hope this article has inspired you to start investing for your future plans, and taught you that even on a tight budget, you can still invest.
Looking for more advice about managing your money on a budget?
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We can help with all that and more. Spend some time on our site, and let’s achieve your financial goals together.