8 Tips for Investing Your First $1,000

It's a common myth that you need to be rich to invest. In reality, you can get started with very little money. If you have $1,000 to kick off your investing career, here are a few key moves to make.

5 Winning Stocks Under $49
We hear it over and over from investors, “I wish I had bought Amazon or Netflix when they were first recommended by the Motley Fool. I’d be sitting on a gold mine!” And it’s true. And while Amazon and Netflix have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Simply click here to learn how to get your copy of “5 Growth Stocks Under $49” for FREE for a limited time only.

There's no such thing as a risk-free investment, but different options carry different risks. Figure out how strong an appetite for risk you have before putting together a portfolio.

ALSO READ: 3 Tech Stocks for Under $20 a Share

Exchange-traded funds, or ETFs, are a good bet for newer investors. ETFs let you own a bunch of stocks with a single investment. And they don't require a lot of research.

Dividend stocks pay you for owning them. Once you start collecting dividends, you'll have the option to cash them out or reinvest those payments.

Fractional shares allow you to purchase a portion of a share of stock rather than a full share. If you only have $1,000 to start out with, you can use fractional shares to assemble a more diverse investment mix.

ALSO READ: Have $300? 2 Ridiculously Cheap Stocks to Buy Right Now

A lot of people these days are investing in digital coins. Cryptocurrency is a pretty risky investment, but if you have the appetite for it, it could be rewarding. It pays to look at different currencies and see which, if any, are right for you.

5 Winning Stocks Under $49
We hear it over and over from investors, “I wish I had bought Amazon or Netflix when they were first recommended by the Motley Fool. I’d be sitting on a gold mine!” And it’s true. And while Amazon and Netflix have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Simply click here to learn how to get your copy of “5 Growth Stocks Under $49” for FREE for a limited time only.

If you're going to invest in a brokerage account, finding the right one is crucial. A good bet is to choose a brokerage that doesn't charge commissions every time you make a trade. You may also want to favor an account that will allow you to buy both stocks and cryptocurrencies (not every brokerage offers the option to buy digital coins).

When you put money into a brokerage account, you're able to access it any time. When you invest in an IRA or 401(k) plan, you commit to leaving your money alone until at least age 59 1/2. But there are tax breaks associated with these accounts, so if you're investing for the long haul, they make sense.

ALSO READ: 3 Beaten-Up Stocks for Bargain Hunters

No matter where and how you’re investing, make sure you know what you’re getting into. Don't just buy stocks at random. Instead, dig into each company's financials before adding it to your portfolio. Similarly, learn more about crypto if it's something you're interested in owning. The more research you do, the more confident you'll be.

5 Winning Stocks Under $49
We hear it over and over from investors, “I wish I had bought Amazon or Netflix when they were first recommended by the Motley Fool. I’d be sitting on a gold mine!” And it’s true. And while Amazon and Netflix have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Simply click here to learn how to get your copy of “5 Growth Stocks Under $49” for FREE for a limited time only.

The sooner you begin investing, the sooner you can begin to grow wealth. And that's a great way to help ensure that you're able to meet your financial goals.

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