Can I invest even if I only have an extra $100 a month?
Yes, but is a C-note all you can cough up? Cut your phone service and just use a cell if you need to scrape up extra cash. Your grandfather probably worked two jobs his whole life you can survive with one phone. “You need to invest subconsciously out of sight, out of mind,” says Bryan D. Beatty, a CFP in Vienna, Virginia. “The idea behind investing isn’t necessarily which fund, it’s discipline.” If you are just starting out, Beatty suggests choosing a broadly diverse mutual fund that uses asset allocation modeling. That means you’re going to get a diversified portfolio even with an initial small investment. And have all subsequent investments set to automatically come out of your bank account and into your fund each month so you’re not tempted to reinstall that landline. Check out the John Hancock Lifestyles Aggressive Growth portfolio: It has low fees so you’re minimal investment won’t be eaten up and it will help spread your cash around.
by Alonna Friedman
6/19/08
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