Reader - investing is not just for The Rich™.

In today’s newsletter, we’re debunking the myth that you need a lot of money to start investing.

The Lie: You Need a Lot of Money to Start Investing

Many believe investing is only for the wealthy, but this isn't true! Even if you're only starting with a little, starting as soon as possible is the best way to grow wealth. When it comes to investing, time is your best friend.

It used to be true that you needed a lot of money to invest when investing options were much more limited. With the advent of investing apps, robo-advisors, and the ability to open an investing account from your computer at any time, investing no longer has the same barriers as it used to. Now, you can invest in partial shares and do so without the help of an investment broker - enabling you to start today with as little as $5.

The Truth:

Investing can be accessible for you if you start small.

With certain platforms, you can begin investing as little as $50 or even less. Because you can now buy partial shares, you can start with much smaller amounts. If you want to get started investing but don't have a lot of free cash, commit to starting with even just $5 a month and increase when you have the financial means to do so.

Here are a few ways to get started investing:

• Micro-Investing Apps: Apps like Acorns and Robinhood allow you to invest spare change or small amounts regularly. The spare change investing feature on Acorns is one of the easiest ways to invest and grow your wealth without even noticing. How often do you check on that spare change in your account from a $6.73 latte?
• Employer Plans: If your employer offers a 401(k), start with small contributions and gradually increase them. Because these get pulled directly out of your paycheck, they help you save on taxes, and most likely, you won't even miss that money in your bank account! A good starting point is meeting your employer match, which is often around 3% but can be more. Just don't forget to actually invest those contributions! More on employer 401(k) matches here.​
• Other Retirement Accounts: No employer-funded 401(k)? No problem. You can open your own retirement investment account (a Traditional or Roth IRA) for free and start investing with as little as $1, depending on the provider you choose. Fidelity is a great choice if you want to avoid starting fees and account minimum requirements.
• An HSA Account: This is one not everyone knows about. If you have a high-deductible health care plan through your employer, you likely have a Health Savings Account (HSA) available to you. This account lets you put pre-tax money into it for future medical expenses, BUT the really cool part is that once you hit $1000 in that account - you can invest the rest! That invested money basically becomes another retirement account for you. Of course, this does require you to have a certain kind of health plan through an employer and the ability to put at least $1000 into it. But if you're able to do that, this is a great way to lower your taxes and invest at the same time!

Remember: a 401(k) or IRA account will allow you to invest for retirement, but those funds won't be available before then (without heavy penalties). The micro-investing apps mentioned above give you access to your money whenever you want.

Investing doesn’t have to be intimidating, and it doesn't have to be only for the rich. Start small, stay consistent, and watch your investments grow over time!

Questions?! Let us know - just respond to this email!

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With love and empowerment,

Lora at She's a Lot

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