Whats the secret to investing?
There really isnt one.
Most Americans dont have a ton of money to throw around.
But theres no secret investing knowledge that youre lacking, no fancy strategies you better learn first.
You just need to get started.
As Iwrotepreviously:
To save effectively, you have to start small and make it consistent.
You build up the habit, and it gets easier to save over time.
How long will it take until its second nature?
Well, that will depend a lot on you and your individual circumstances, of course.
Live below your means, automate your savings, dont cut corners.
Look, I am bored just typing these words, but it works.
you’re free to get started with a few bucks and a few minutes research.
Heres how to do it.
Dont just pick at randomnot all brokers are created equal.
Youll want to pick the one that best aligns with your goals.
Yes, there will be setbacks.
But generally, the marketdoesgo up, which means your investments will become more valuable over time.
So, pick low-cost mutual orindex funds.
You want to pick a couple of these.
Thats because one of the keys to investing,besides time, is to keep doing it.
So, once youve opened your account and made an initial deposit, set up automated contributions into it.
Treat it like a bill you have to pay on time.
Youll want to check in on your investments periodically, of course.
In many cases, you dont need a ton of money to get started.
This post was originally published in 2019 and was updated on June 23, 2020 by Lisa Rowan.
