Want to Invest But Have No Clue About The Market? Here’s What You Can Do
Everyone knows that investing in the stock market reaps big rewards. We’ve all come across rags to riches investment stories that make us want to take a plunge ourselves. But the catch is that not everyone is a keen follower of the stock market. And putting money on the line without any background can be a disaster.
Well thankfully, the good news is that you can still invest without the need to keep an eye on the market. You don’t have to be the “Wolf of Wall Street.” You can still make money by being a witty cat on the main street!
If that sounds interesting to you, hop on as we discuss a few pointers to help you realize how addictive growing your money can be.
Start with a little money
For novice investors, cost is the major barrier when it comes to investing in the stock market. While most beginners think that to grow money you need money, the tables have turned in today’s time.
With the internet at your fingertips, things have become so easy that you can start with as low as $1 with no charge for trade commissions. Starting small is a great way to begin investing. And specialized apps like Public and Robinhood offer thousands of stocks and ETFs with no commission fee and no amount minimums for young traders.
Take the benefit of retirement plans
While being on a tight budget, saving money to invest might seem to be challenging. But the fact is that you can simply register for your company’s 401(k) retirement plans and start investing with small amounts that you won’t even notice. For example, you can plan to invest just 1% of your salary into an employer plan and gradually increase it each year.
Let a robotic investment advisor assist you
Robotic money advisors have made investing as simple and accessible as possible. With such AI-powered advisors, you don’t need any prior investing experience.
They work wonders when it comes to long-term investments by asking you a few questions to determine your goal and risk tolerance. Thereafter, they start investing your money for you in a diversified and low-cost portfolio of stocks. Being reasonable, robotic investment advisors are truly worth it.
To sum it up
You can never undermine the importance of investing. Putting away even a very small amount of money can reap significant rewards down the line. The key is to regularly save money with the sole purpose of investing it. When you can automate your bills, why not investment?
More in Pocket Change
Writing a Kick-Ass Business Plan
When starting a business, the first and foremost thing you’d require is a business plan. A business plan acts as a...January 14, 2021
Tried and Tested Job Tips for 2021
Coronavirus has gobbled up every ounce of normalcy that was ever present in the world. Your Christmas dinner became a solemn...January 13, 2021
Here’s All You Need to Know About Job Hunting During The Pandemic
From patience to generosity, from looking out for each other to standing against racism, 2020 has taught us a lot. But...January 12, 2021
Managing an Engineering Career During a Pandemic
Undoubtedly, 2020 was a less than ideal year for everyone alike. With the world engulfed in a pandemic, businesses swinging between...January 12, 2021
Dreaming of Owning a New Gas-powered Car in Massachusetts? Do It Before 2035!
Today, millions of people drive gas-fueled vehicles, but very few understand the ill-impact of the emissions from them. It is in...January 7, 2021
Career Expert Lists 6 Things You Must Not Say at a Job Interview
You can never know what’s going on in the interviewer’s mind when you walk into the interview room. Everything you say...January 4, 2021
5 Tips On How to Successfully Change Your Career in 2021
Let’s face it, 2020 has been hard on everyone, with millions stuck to deal with unforeseen financial troubles. Global industries are...January 4, 2021
Civil Leaders Offer Advice on How to Advance Your Career
The climb up is never smooth or easy. After all, there is a lot of competition, with everyone coveting prestige, power,...December 31, 2020
Here’s How You Can Use Both Your Strengths and Weaknesses to Your Advantage at the Next Interview
Everyone wants to believe that they are invincible. The reality, however, is always in much contrast to it. Obviously, you are...December 30, 2020