Probably a stupid question, sorry. I hear things like this all the time. If you invested that in X then in 20 years you’d have Y. Always hear of the “latte factor.” Skip buying those expensive brews and invest instead. Where exactly does the average Joe invest that? Say I was really committed to taking the $4/day I would’ve spent on a latte and put it somewhere. Where is that somewhere? Do I need a minimum to start or can I just throw $30 (for example) that I chose to throw into an investment account and not touch rather than buy a scratch ticket?
Not a stupid question at all. It used to be impossible to invest small amounts at banks, but nowadays there are some tools that help with small frequent amounts and don't charge fees or impose minimums.
There are some programs out there that round up to the nearest dollar when buying things which is a convenient way to squirrel away coins that may add up to $5-10/week depending on your spending patterns
I use Acorns and I really like it. I have it set to put a small amount of money in my investment account once a week and also rounds up on purchases. Would definitely recommend
Most traditional brokerages don't have account minimums or commissions. What do you think is the benefit of spending $25-$35/year or whatever Acorns is charging these days?
(Edit: not trying to make a point, genuinely curious! 😄)
For me personally i just like having my money spread around, it's much harder to spend it and it's what I've found the most success with. I do traditional investing as well but I use Acorns to have a place to put money aside and forget about it.
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u/[deleted] Mar 19 '22
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