Some people think you need a lot of money to invest. You need a good salary, a financial advisor, and hundreds or even thousands of dollars just to start investing. Let me tell you something: They’re wrong.
What they say may have once been the case: Where you need a ton of money just to start investing. But now, things have changed. For example, earlier you needed to pay a lot of money just in commissions, but now, commissions are pretty much nonexistent. In this video, I’ll show you how to take advantage of this change, and invest with pretty much no money – and also become rich while doing so.
So, you think you need to wait till you have accumulated a lot of money to invest. I disagree. Let me show you an example. If you set aside just a dollar a day – which is doable for just about everyone – and invested it for forty years – you’d have… Drum roll please… Over Two Hundred Thousand Dollars.
That’s right – with just a dollar a day, your investment will grow to over two hundred thousand dollars. But when you’re investing, do you know what is the most important thing to keep in mind? It’s surely not that you need hundreds or thousands of dollars to start. It’s that time is your best friend. No matter how little you start with, you need to start investing early. The number one regret most grownups have is not how little they invested – but how late they started!
You see, the earlier you start investing, the more money you’ll end up having – a lot more money. Let me give you an example.
If you started investing at age forty, and invested $50 a month for twenty years, this $12,000 investment would have grown into $40,000 when you’re 60. But if you started making the same $50 a month investment starting at age twenty, and invested for twenty years, this same $12,000 investment would have grown into $300,000 when you’re sixty, even if you had made no further contribution after the initial 20 years!
Starting at age twenty instead of age forty would mean your investment would be worth 7 and a half times more. Just think, you could make an extra two hundred and sixty thousand dollars just by starting early. That’s the magical power of compounding.
The key message of this video is that you need to start investing now – even if you don’t have a ton of money. Just one dollar a day can grow to become so much more if you start early.
So start investing now. What are you waiting for? You want those three hundred thousand dollars – don’t you?
Podcast: Investing with No Money – How YOU Can Do It
Fun, informative and concise episodes by a 10-year old, breaking down complex financial concepts in a way that kids and beginners can understand. Episodes cover personal finance topics like saving, investing, banking, credit cards, insurance, real estate, mortgage, retirement planning, 401k, stocks, bonds, income tax, and more, and are in the form of a conversation between a cowboy (a finance novice) and his friend, a stock broker. Making finance your friend, only at Easy Peasy Finance.
A little bit about me: I have been fascinated with the world of personal finance since I was 6! I love to read personal finance books, and keep myself updated on the latest by reading various personal finance magazines. My friends often ask me questions about finance because they find it complex and intimidating. That’s what inspired me to start my YouTube channel called Easy Peasy Finance when I was 8, and this podcast 2 years later.
The episode talks about how to invest with no money or savings, and how to benefit from starting early and compounding.
Show notes and transcript at: https://www.easypeasyfinance.com/investing-with-no-money-how-you-can-do-it/
