How to Start Investing: A Guide for Beginners

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To get started investing, pick a strategy based on the amount you'll invest, the timelines for your investment goals, and the amount of risk that makes sense for you.

Rent, utility bills, debt payments and groceries might seem like all you can afford when you're just starting out, much less during inflationary times when your paycheck buys less bread, gas or home than it used to. But once you've wrangled budgeting for those monthly expenses (and set aside at least a little cash in an emergency fund), it's time to start investing. The tricky part is figuring out what to invest in — and how much.

As a newbie to the world of investing, you'll have a lot of questions, not the least of which is: How much money do I need, how do I get started and what are the best investment strategies for beginners? Our guide will answer those questions and more.

Here's what you should know to start investing.

Start investing as early as possible
Investing when you’re young is one of the best ways to see solid returns on your money. That's thanks to compound earnings, which means your investment returns start earning their own return. Compounding allows your account balance to snowball over time.

At the same time, people often wonder if it's possible to get started with a little money. In short: Yes.

Investing with smaller dollar amounts is possible now more than ever, thanks to low or no investment minimums, zero commissions and fractional shares. There are plenty of investments available for relatively small amounts, such as index funds, exchange-traded funds and mutual funds.

If you’re stressed about whether your contribution is enough, focus instead on what amount feels manageable given your financial situation and goals. “It doesn't matter if it's $5,000 a month or $50 a month, have a regular contribution to your investments,” says St. Petersburg, Florida-based certified financial planner and Founding Member of Facet Wealth Brent Weiss.

How that works, in practice: Let's say you invest $200 every month for 10 years and earn a 6% average annual return. At the end of the 10-year period, you'll have $33,300. Of that amount, $24,200 is money you've contributed — those $200 monthly contributions — and $9,100 is interest you've earned on your investment.

There will be ups and downs in the stock market, of course, but investing young means you have decades to ride them out — and decades for your money to grow. Start now, even if you have to start small.

If you're still unconvinced by the power of investing, use our inflation calculator to see how inflation can cut into your savings if you don't invest.

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