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This article was updated on Dec. 30, 2015.
Got only $20 to put away right now?
It may not sound like much, but you can use it to buy shares in Ford
Motor. Or Bank of America. Or Hertz. And those are just a few of the
thousands of options available for cash-strapped investors. What if you
can spare $100 -- or $1,000? Your options are even broader.
We’re not here to tell you where to invest your money. We won’t lay out a
handful of stocks on a ’buy’ list. But what we can tell you is how you
can invest your money -- the mechanics of investing small, large, and
medium amounts of cash. We can even help you choose a broker.building
your position in that company, so your capital gains will increase
exponentially over time.
On top of that, DRIPs -- along with their cousins, Direct Stock Purchase
Plans (DSPP) -- allow you to bypass brokers (and their commissions) by
purchasing stock directly from the companies or their agents.
Thousands of major corporations offer these types of stock plans -- many
of them free, or with fees low enough to make it worthwhile to invest
as little as $20 or $30 at a time. DRIPs are ideal for those who are
starting out with small amounts and want to make frequent purchases (a
powerful investing tactic known as dollar-cost averaging). 7305
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