Here are a few ways to invest $100…
Betterment is part of a class of investment adviser that provides portfolio management online without the need for much human interaction, called “robo-advisors”. Instead of having to sit down with a financial advisor and pay them for their time, or pay them by having fees on your investments, robo-advisors ask you a series of questions and then invest your money automatically, based on 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 yielding investments.
3. Ally Invest
Ally Invest (formerly TradeKing) is an online broker that allows you to trade for only $4.95 a pop. That’s not a lot, folks. E*Trade, TD Ameritrade, Scottrade, Charles Schwab, and Fidelity all have higher trading fees. And here’s the deal: you can fund an IRA or Roth IRA with as little as $100. That’s right, there’s no minimum at Ally Invest, so you have no excuse not 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 with as little as $25. Plus, there’s no account minimum currently at Lending Club.
5. Your 401(k)
This is the easiest way to invest your money. You can have money taken directly out of your paycheck and deposited into your 401(k), starting with your first $100. This is so simple to do, yet so many people don’t. And hey, if you have a 401(k) match, why not take advantage of it? Keep in mind, however, that you better know what you’re investing into within the 401(k)
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