When I used to think of investors, I pictured a bunch of elderly gentleman wearing top hats and puffing away on cigars in their Country Clubs.
I know, kind of stereotypical of me.
My understanding of investing used to be that it was for the wealthy to get wealthier and that it was out of reach for everyday people like you and me.What I’ve discovered over the years and in my journey with investing, is that investing is for everyone. You don’t need to be wealthy to start, in fact, it’s how you get wealthy. You can even start with as little as $5.
Why should you be investing?
There are two main ways to make money:
1. By working for yourself or for someone else (trading your time for money)
2. By having your money work for you.
Investing is a fundamental part of building wealth and being able to live life on your terms into the future, because it’s how you start to get your money working for you. Investing will help you start to generate passive income. This passive income is what will allow you to one day flip the switch from having to work for your money to instead having it fully work for you, so that you can have the financial freedom to choose what you want to do in life.
Investing does not have to be complicated or scary
One of the biggest misconceptions out there – aside from having to be rich to invest – is that investing is hard and takes a whole bunch of time and know-how. I promise you, that it’s not. By taking a little bit of time to understand investments, you will soon see how they have the ability to have such a beneficial impact on your future financial freedom.
How you can start investing with as little as $5
You don’t need to be an investment whiz with 7 figures in your bank account to get started. Micro-investing is a very quick and easy way to dip your toes into the magical water of investing. Micro-investing has become very popular in Australia within the last 5 years, because it makes investing very accessible to everyone. The idea behind micro-investing is that you invest very small amounts of money regularly, with them aim that these will add up to a lot of money over time.
In Australia, we have two main players in the Micro-investing space:
– Raiz (formerly Acorns).
Both of these platforms offer simple apps that you can use to start investing. Raiz offers a variety of Australian and International Exchange Traded Funds (ETFs) that you can select to invest in, based on your preference and comfort levels. Spaceship Voyager have the option to invest in an index portfolio or their Universe Portfolio where their investment team works behind the scenes to pick and choose investments based on their methodology.
Micro-investing is a fantastic way to get started in investing, by increasing your comfort levels and knowledge when it comes to investing. There will one day, however, come a time where you will want to graduate and explore what other options are out there to accelerate your investment journey.
There is only one guarantee when it comes to investing…
Doing nothing is doing nothing for you.I’m a big advocate for investing, because it has such power to completely allow you to master your money and live life the way that you want to one day by creating financial freedom.But it can only do that by you actually taking action and starting. As we’ve learned, it is simple and only requires $5 to jump in – so what are you waiting for?
Know that you want more money in the bank and need to improve your finances, but don’t know where to start? Book in a FREE Mini Money Mentoring session below and let’s work that out together!