Investing can seem intimidating. Some people think they need a lot of money to start, others worry that the stock market is too volatile and they’ll lose their hard-earned money. In reality, you can Start Investing with a small amount and grow your wealth over time through the power of compound interest. Before investing, you’ll want to do some homework and make sure your finances are stable. A financial professional can help you do that and recommend an investment strategy for your specific needs.

How to Start Investing: A Step-by-Step Guide

Adding investments to your savings is one way to get closer to long-term goals, like buying a home or paying for college. Unlike savings accounts, which are guaranteed and easily accessible, investing means you’ll have to wait a little while before you can withdraw the money you put into it. Investing also typically has higher returns than savings, but comes with more risk.

If you’re thinking about investing, the most important thing is consistency and commitment. You can choose to manage your own investments with low or no minimums and convenient online platforms, or work with a financial advisor that’s focused on helping new investors. Whether you go it alone or with a professional, a key consideration is your ability to stick with the plan when markets dip. If you’re unable to stomach the ups and downs, it may be best to hold off until you feel ready to take on more risk.