In the past, investing might have been only for rich people. Today, this is a myth!
It’s never been easier for anyone to invest, even if money is tight. You can invest with just a few hundred dollars and receive a personalized, diversified investment that meets your needs.
If you want to start investing, consider these tips.
Pay yourself first and start small
Anyone can put away a small portion of their earnings for the future. Even if it’s only a few dollars a week, your savings can add up to a sizeable sum over time.
We recommend having at least three months’ living expenses in a savings account or other cash equivalent before starting to invest. This allows easy to your money if there’s an emergency and protects from investment risk.
Most investments allow for automatic contributions from your bank account. Regular investment plans are a great way to get in the habit of investing and saving.
For example, you can contribute as little as $25 to an HSBC Mutual Fund account through a regular investment plan: $25 every week adds up to $1,300 at the end of the year—that’s a fantastic start!
Keep your goals in mind
While you’re deciding how much to invest, consider why you want to invest.
A comfortable retirement, a down payment on a home, a loved one’s post-secondary education or a sabbatical are all life goals that investing can support.
Get started or review your plan
Don’t worry if you haven’t given much thought to your financial goals, or if you get stressed out thinking about money. You’re already on the way to better outcomes by just this reading this article!
Explore the investment options out there, and start with a solution that works for you. A qualified professional may be able to help, and you may not even need to meet in person. Or take a look at online investment services that can provide financial advice, recommendations and low-cost products and solutions.
Do-it-yourself investing, which comes with no advice, can also be an option depending on your interest and comfort level.
If you have an investment plan in place, congratulations! When was the last time you gave it some thought? Check-in or book an appointment with an advisor to review your progress and make sure you’re still on track to meet your goals.
See what you could get if you invest
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