Saving for retirement when you don’t have a lot of money can seem like an impossible task. Micro Investing makes the impossible, possible.
Until recently, the minimum amount of money required to start investing in most companies was $500-$1000. That may not seem like a lot of money to most but to some, it is.
People living on one income (like me) are already living a life with little to no extras just to get by so $500-$1000 can seem like a fortune and not one you likely want to part with.
So what gives?
How are people living on a low income, with little to no savings, supposed to save for retirement? A retirement that is (almost) quite literally a lifetime away?
What if I told you $5 was all you needed to start investing for retirement? With the Micro Investing App from Stash, that’s all you need.
Micro Investing with Stash
This is huge for low-income families!
You can take some weight off of your shoulders because saving for retirement can be one less thing to worry so much about.
Stash Invest has 30 EFT’s (a group of investments like stocks and bonds bundled into a fund that’s traded) chosen based on past performance, risk profile, and expense ratio.
Stash will educate you too, which is another reason besides price, that this company is so ideal for beginners. They don’t want you blindly investing without knowing the terminology and process so you’ll get tips and guidance so you can go forward confidently.
Let’s take a look at what could be if you go with Stash Invest.
Let’s say you set up an auto-invest of $20/week. That’s not too much, right?
Based on an average 5% growth rate per year, you could save:
- $5,746 in 5 years
- $13,081 in 10 years
- $34,388 in 20 years
Now, let’s bump that up to $50/ week because we never know what the future holds; our financial standings could change.
The same principles apply, with an average 5% growth rate per year, you could save:
- $14,366 in 5 years
- $32,702 in 10 years
- $85,971 in 20 years
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What Are The Pros and Cons?
- Perfect for beginners.
- Get in App and email education to learn the ropes of investing.
- Your funds are protected through the Securities Investor Protection Corporation and with a 256-bit bank level encryption.
- App Access Only – Stash doesn’t have a website.
What’s the takeaway?
In my opinion, Stash is a lifesaver for us folk on low incomes. It allows us a chance to create a better future for very little upfront and that, to me, is huge.
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