Investing as a Groom with a Low Income May Seem Challenging, but It’s Possible.

What you have to invest is income minus expenses. You can work on both sides of that equation. Look for ways to save, either by spending less or finding government benefits as well as building income through side gigs and inventions.

Now, here are some steps you can take to start investing:

1. Start Small

You don’t need a lot of money to start investing. Start with what you can afford, even if it’s just a few dollars a week. Consistency is key when it comes to investing, so make it a habit to invest regularly. 

Thanks to competitive pressures from Robinhood, now Schwab and Fidelity have near zero minimum balances, and most ETFs can be purchased in fractions, so you can start very small. The earlier you start, the longer it compounds.

Start early and often!

But wait there’s more!

Emmy Sobieski’s “HorseGrooms’ Guide to Finance” continues in the HorseGrooms Community. She discusses compound interest, robo-advisors, retirement accounts and more. Don’t miss a thing and log onto the HorseGrooms Community.

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This is NOT a financial, legal, tax or investment advice.

This article is for educational purposes only. It is not advice. Why isn’t it advice? First, I don’t have the licenses necessary to advise you. Second, I don’t know your specific situation, which I would need to know in order to advise you (if I had the licenses, which I do not).  

Whenever someone gives you advice, ask yourself these two questions above: do they have the credentials, and do they know your specifics? If either answer is no, treat their advice like a starting point of learning and not as advice.

Let these blogs serve as a starting point in your education, not an end answer. Only you can find your answers to your specific situation.