Here are a few ways to invest $100.
Betterment is part of the class of investment advisers that provide portfolio management online without the need for much human interaction, called Robo advisers. Instead of sitting down with a financial adviser and paying them for their time or pay them fees for your investment, Robo advisers asks you a series of questions and then invest your money automatically based upon your tolerance for risk.
#2: Open a Savings Account
Savings accounts are one of the most boring investments around but they are super safe. The idea isn’t to leave your money here for very long but to build up your savings until you can get into some higher yield investments.
#3: Ally Invest
Ally Invest, formerly known as Trade Key, is an online broker that allows you to trade for $4.95 a pop. E*Trade, TD Ameritrade, Scottrade, Charles Schwab and Fidelity all have higher fees. And here’s the deal, you can fund an IRA or a Roth IRA with as little as $100! That’s right, there’s no minimum at Ally Invest so you have no excuses to get started investing.
#4: Lending Club
Lending Club is a peer-to-peer lending service. Peer-to-peer lending is just what it sounds like. It’s lending to someone else. Ordinary folks lend and borrow from each other to make a profit. Lending Club is actually the world’s largest online marketplace for connecting borrowers and investors. You can actually make some pretty sweet returns at Lending Club and the good news is you can invest as little as $25 plus there’s no account minimum currently at Lending Club.
#5: Your 401k
This is the easiest way to invest your money. You can have money taken directly out of your paycheck and then deposit into your 401k starting with the first $100 you make. This is so simple to do yet so many people don’t and hey if you have a 401k match why not take advantage of it? Keep in mind however that you better know what you’re investing into within your 401k.
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