Investing doesn’t need to be scary.
It can be intimidating, sure. Especially to first-time or small-time investors. Where should I invest? How much? and especially: I’m living paycheck to paycheck. How do you expect me to save up the minimums to even open an account?
Now, Fidelity has answered that last one with, “You don’t have to.”
This opens investing to virtually everyone.
Starting now there are no minimum balances required to open a Fidelity brokerage account.
And on Friday, Aug 3, they will begin offering two index funds with ZERO minimums or fees. That means that, other than taxes, the gains are yours.
This eliminates the $1000-$3000 required by other brokerage firms like Vanguard, and the account fees charged by small investment options like Acorns. (Seriously, that $1/mo fee adds up. Why not pay it to yourself instead?)
So, what are you waiting for? Set up an account and start funneling the $5 or just the small change that you find in the couch cushions into a place where it will earn money for you. Your future self will thank you.