{"id":2128,"date":"2016-09-28T00:15:59","date_gmt":"2016-09-28T08:15:59","guid":{"rendered":"http:\/\/www.cultofmoney.com\/?p=2128"},"modified":"2016-09-27T09:48:57","modified_gmt":"2016-09-27T17:48:57","slug":"start-investing-500","status":"publish","type":"post","link":"https:\/\/www.cultofmoney.com\/start-investing-500\/","title":{"rendered":"How to Start Investing with $500"},"content":{"rendered":"

\"ifLong gone are the days where you need a minimum of $2,500 to start investing. In fact, you can now start with as little as your spare change. (Yes, seriously and there\u2019s even an app for it.)<\/p>\n

And if you\u2019re worried about the complexity of investing, don\u2019t be. You can do it inexpensively and easily. Here\u2019s how to start investing with $500.<\/p>\n

First Determine What You Want to Invest In<\/h2>\n

Different investments work for different people. Some are die-hard when it comes to the stock market while others prefer alternative investments like real estate<\/a> or businesses.<\/p>\n

You need to figure out what works for you. If real estate is your chosen route you\u2019re not going to be able to do much with $500. In this instance keep saving and educate yourself while you save.<\/p>\n

If you\u2019re interested in investing in the stock market here\u2019s how to do it.<\/p>\n

Start with Your 401k<\/h2>\n

If you have an employer sponsored retirement plan it\u2019s generally a good idea to start with it. This is especially true if your employer offers a match.<\/p>\n

If you aren\u2019t yet participating in your 401k program<\/a> at work then go ahead and sign up.<\/p>\n

Don\u2019t have an employer sponsored retirement plan? No worries. There are plenty more options for you to choose from.<\/p>\n

Invest in ETFs with Betterment<\/h2>\n

Betterment<\/a> is where I keep my retirement account and my kids\u2019 investment accounts mainly because it is SO simple to use!<\/p>\n

With Betterment there\u2019s only a $10 minimum to open an account. If you have an automatic withdrawal of $100 or more per month you\u2019ll only pay an annual of fee of .35%. (If you have more than $10k that fee drops.)<\/p>\n

That\u2019s a pretty low fee considering Betterment helps you determine your risk, selects ETFs for you and rebalances your account on your behalf. It really is \u201cset it and forget it\u201d which I truly love.<\/p>\n

Invest in Stocks with Loyal3<\/h2>\n

My first investments were in the form of individual stocks. Based on my experience I definitely don\u2019t recommend brand new investors start with this route.<\/p>\n

However, if you\u2019re going to pick a few stocks to add to your portfolio I do recommend Loyal3<\/a>. Loyal3 is a brokerage that is completely fee free. While most brokerages require to pay upwards of $10 to buy stock and then another $10 to sell, Loyal3 makes you pay nothing.<\/em><\/p>\n

Plus this company lets you purchase partial stocks \u2013 this mean you can get started with only $10.<\/p>\n

Invest in Yourself<\/h2>\n

Is there a course you could take to improve you earning power? A side business you\u2019ve dying to start up? Time and time again I stand by the fact that the best investments I\u2019ve ever made are the ones in myself.<\/p>\n

If there\u2019s something you know you could do to invest in yourself please don\u2019t overlook it.<\/p>\n

Keep Consistency<\/h2>\n

Once you\u2019ve decided what to do with your $500 make a follow up plan. Being consistent, even if that means repeated small amounts like $20 at a time, will add up and create huge results.<\/p>\n

Go ahead and invest your $500 but also be consistent with doing more and more in the future.<\/p>\n

Have you started investing yet?<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Long gone are the days where you need a minimum of $2,500 to start investing. In fact, you can now start with as little as your spare change. (Yes, seriously and there\u2019s even an app for it.) And if you\u2019re worried about the complexity of investing, don\u2019t be. You can do it inexpensively and easily. […]<\/p>\n","protected":false},"author":4,"featured_media":2129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[8],"tags":[608,90,47],"acf":[],"_links":{"self":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts\/2128"}],"collection":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/comments?post=2128"}],"version-history":[{"count":0,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts\/2128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/media\/2129"}],"wp:attachment":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/media?parent=2128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/categories?post=2128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/tags?post=2128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}