3 Ways Senior Citizens Can Invest Without Much Money
Who said that you must have much money for you to start investing? At 65 or older, you are probably not working, and chances are that you are living in reduced income. So, you basically don’t have much money. Good news is, not having much money cannot stand in your way to investing. You don’t have to put down thousands of dollars in investment at once so why not get info on Humana Health Insurance 2020 at https://www.healthinsurance2020.org . You can simply start with small amount of money – like $ 100 or less – and then build up your portfolio over time. Without much ado, let us learn simple ways in which you can invest without necessarily having much money.
- Direct investing
Direct investing is a great option for elderly individuals who don’t have much money but want to invest. You can use few dollars to purchase stocks from the company directly. There are many companies that offer direct investment options. Among them include Verizon, General Mills, and Ford. While there are some companies have fees and minimum requirements for you to buy stocks from them, there are others that don’t have any fees or any requirements at all. Actually, you can start investing with even one share.
- Mutual funds
In case you have no idea what mutual funds are, they are simply a group of bonds, stocks, or a mixture of both stocks and bonds. Together with other people, you pool resources and then hire a company to do the management of the portfolio and to also keep track of the paperwork. You will get at least a portion of the portfolio and a slice of the profits. Even though many mutual funds require few thousands up front before they can allow you to invest, there are others that do allow investors to start investing with even $50, provided you are ready to invest the same amount of money at regular intervals, often monthly.
- Exchange-trade funds
ETFs or Exchange-trade funds are another popular type of investment fund. They are more or less the same as mutual funds, but they differ from traditional mutual funds in that they are bought and sold on exchanges throughout the day just like stocks. Investing in exchange-trade funds is a great option for elderly individuals who don’t have much money. When you invest in exchange-trade funds, you are investing basically on mutual fund which trades just like any other stocks. To start investing in ETFs, you can start by buying even one share. Good news is, there are brokerages that do not even charge a commission on the deal.