How to Invest Your First $100–$5,000 (Best Ways for Beginners!)

Episode #439

Only have $100 – $5,000 but want to know how to invest it wisely? No amount is too small to start building smart money habits today. While some asset classes may not be viable for you just yet, there are still all kinds of ways to invest with a modest amount of money. Making the most of what you have now can set you up for a bright financial future.

In this episode of the “BiggerPockets Money” podcast, Scott and Mindy have brought in reinforcements to discuss the best ways for beginners to invest a small amount of money—whether it’s $5,000 or as little as $100. With four unique perspectives on investing, you’ll find that there are several ways to make your money work harder for you. There is one common message, however: educate yourself and take action!

Not everyone has a large nest egg to throw around. In fact, most Americans live paycheck to paycheck. If you don’t have much money to spare, this is the episode for you. You’ll learn about the investing order of operations, different types of retirement accounts and how they work, and ways to purchase real estate with no money down!

Show Notes at:
https://www.biggerpockets.com/blog/money-439?utm_source=youtube&utm_medium=description&utm_campaign=none
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Books Mentioned in This Episode:
“The One Thing”: https://store.biggerpockets.com/products/the-one-thing?utm_source=youtube&utm_medium=description&utm_campaign=none
“Rich Dad Poor Dad”: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
“Set for Life”: https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media
“The Compound Effect”: https://www.amazon.com/Compound-Effect-Darren-Hardy/dp/159315724X
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Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan: https://www.biggerpockets.com/blog/money-362?utm_source=youtube&utm_medium=description&utm_campaign=none
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Check Your USDA Loan Eligibility: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp
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Connect with Amanda:
Instagram: @shewolfeofwallstreet or https://www.instagram.com/shewolfeofwallstreet
Website: https://shewolfeofwallstreet.com/
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Connect with Kyle:
Twitter: @financialkyle or https://twitter.com/financialkyle
Website: https://www.kylemast.com/
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Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none


00:00 Intro

01:00 Money Moment

01:37 How to Invest with $100

08:45 How to Invest with $500

15:03 How to Invest with $1,000

20:59 How to Invest with $2,500

25:09 How to Invest with $5,000

34:08 Invest in Yourself!