How Much Money Should I Have to Start Investing?
A question that I think many people on this site have right now is: how much money should I have to start investing?
The fact is, you don’t need to have a lot of money to start investing.
You can start with $10000 and then you can add three hundred or five hundred dollars to your portfolio every month.
It’s fine to start investing if you don’t have $10000.
Maybe you have $3000 or $5000 right now.
However you should take the trading fee into consideration.
That’s because trading and commission fees charged by your stockbroker will potentially outweigh your profits if you trade with a smaller account.
I’d strongly recommend that you only invest when you have no debt and you have some money that you can afford to lose.
And always make sure that you’ll invest in your education first.
You cannot succeed if you don’t know exactly what you’re doing.
If you don’t have $10000 to invest now don’t worry just save up more cash and start investing later.
After you open a trading account you can frequently add more cash to your portfolio, so you can take advantage of that compound interest to grow your money.