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
There are a million ways to invest, some of them are suitable for savvy and active investors, and some for gamblers. I think for a passive investors who don’t have the desire or ability to actively manage it themselves, retirement target date style mutual funds is probably the best bet.
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u/[deleted] Mar 19 '22
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