But if you think you don't have enough money to invest because your net worth isn't six or seven figures and you aren't flush with cash, you're mistaken. All it takes is a few hundred dollars, if that, to get into the stock market.
"The landscape has improved immensely just over the last decade for small investors with the proliferation of exchanged-traded funds ," Christine Benz, director of personal finance at Morningstar, told Business Insider. "You have firms like Schwab and Fidelity that have zero minimum initial purchase funds. So I think that's a non-issue these days — I would set that [concern] aside. A couple of decades ago, you certainly did need $2,500 or $5,000, but that's all changed," Benz says.Face it: You'll never win if you try to time the market. Most of the biggest opportunities to make money in the stock market happen without warning.
"Cash isn't going to provide you with enough growth opportunities long term and the best opportunities you'll have at market growth is by being in the market," says Andrew Westlin, a certified financial planner at"In hindsight, we can always look back and see, 'Oh if I had waited a week, if I had waited a month, would I have better returns?' but none of us have that [ability to go back].
One way to do this is through a target-date fund, Benz says. This type of all-in-one fund has built-in safeguards that minimize risk by automatically shifting to a more conservative allocation as you get closer to retirement.
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