The Best Way To Invest $1,000 – 7 Methods To Grow Your Money

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When you have $1,000 or less to invest, there may seem to be only a few options. But the good news is some of the wealthiest investors in the world started somewhere. And though it doesn’t get a whole lot of publicity, there are actually numerous options available for your small amount of money. We list the best way to invest that $1,000 and make it grow into a bigger nest egg.

But before we get into the investment options, it’s important to realize there are some caveats to investing when you’re just starting out.

Make sure you’ve checked off your other financial goals before investing money into the stock market. Here are some points to consider first:

  • Little Consumer Debt — You should be relatively debt-free.
  • Diversify — For the amount you are starting to invest, aim for as much diversification as you can so you minimize the possibility of being wiped out by a single investment.
  • Fees MatterWatch out for fees. You should not pay more than 1% in investment fees annually.
  • Create Regular Savings — $1,000 should be your starting point only — have a plan to make regular monthly contributions.

If your finances are in good shape, and you’ve completed this financial checklist, let’s move on to where to start invest your money.

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1. Start with Acorns

You don’t have to begin with large amounts when first starting off. In fact with Acorns you can start investing with pennies.

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