What’s the best way to start investing? And do you need lots of money to begin with?
These are common questions and ones you’ve probably asked yourself many times. Today’s article will help answer them for you, by revealing three investment strategies. Each centered around a different income level.
You’ll learn what to do whether you have $100 to deposit, or $10,000.
Ready?
1. How To Invest $100 A Month
Many so-called experts dismiss the idea of saving small amounts of money. They consider it inconsequential or “a waste of time.”
This couldn’t be further from the truth!
Saving and budgeting are both importantly skills, and ones you need to develop as early as possible.
If you start investing $100 a month, you’re on the right track.
And, you’ll get a first-class financial education while building wealth.
Personally, I’d suggest going ultra low-risk and putting your money into a CIT high-yield savings account. You’ll earn 2.25% annual interest, and there’s virtually no downside.
What’s more, your money remains liquid, letting you access it if you need to.
In terms of safe, beginner friendly investments, opening a CIT savings account is a perfect starting point.
2. How To Invest $1,000 A Month
This is the point where you’ve got more money to invest, allowing you to take bigger risks.
Assuming you already have an emergency fund and some money saved up, I’d split your monthly investment between dividend ETFs and Crypto.
Personally, I’d put most of my money (75% or so) into a safe ETF like VOO. And I’d buy it through the Robinhood App in order to avoid paying a commission fee. And I’d put the other 25% into BitCoin.
BitCoin is in a slump right now (and prices will probably get worse for a few more months), but there is potential for a big turn-around.
Because of this, I’d bet on Crypto’s comeback and buy at least one full BitCoin.
Even if prices *only* recover to $8,000 or $9,000 per coin, you’re still getting a huge return on investment.
3. How To Invest $10,000 A Month
Investing huge sums of money lets you see a sizable return even when you “play it safe.”
$10,000 a month into a CIT bank account generates $250 in passive income with each deposit.
Or $10,000 in bonds will net you $300 – $500 a month.
Not bad!
In you’re investing big money, you might as well play it safe. This means bonds, an ETF like VOO, or a high-yield index fund.
You’re making several hundred dollars per month in passive income, without much risk.
Final Thoughts On How To Start Investing
Many people fail to build wealth because they’re scared.
When it comes to maximizing their money, they get cold feet. Choosing to do nothing, letting their cash sit there and lose value as inflation eats away at it.
These people worry that they don’t have enough to start investing. Or they’re afraid of losing whatever money they’ve built-up.
Don’t make this same mistake.
There are plenty of safe, stable ways to grow your wealth. Take advantage of them and let your money work for you.
P.S. I highly recommend opening a CIT savings account as a bare minimum investment vehicle. You’re getting great, safe returns, with virtually no risk at all.
