You can start with whatever you have. After all, if you put $500 into ten different investments, that diversification can protect you from a drop in value of any one of them.
Whether you only want to invest $500 at a time or that’s all you have to invest, you might be surprised by the variety of options you have.
Investing is a great way to begin building wealth and securing your financial future. You don’t need a lot of money to get started, and can start investing with as little as $500! Investing is one of those things that a lot of people say they want to do but they never actually get around to.
The truth is that investing isn’t as complicated as it seems and it doesn’t require a huge amount of cash to get started.
Think $500 is too small to get started with investing? Think again! Investing an amount as small as $500, can be a major turning point in your life and with your finances.
Invest in your retirement accounts
Another great way to invest a spare $500 is to put it into your retirement accounts. Consider using the money to contribute to or start a traditional. It’s never a bad idea to save more for the long term and you’ll get to take advantage of the associated tax benefits in addition to the long term growth of your money. Your future self will be proud!