Money MythBuster: Only the rich can invest

Morningstar's new series tackles money myths starting with, 'You need to be rich to invest'. Spoiler: you don't!

Ruth Saldanha 21 May, 2019 | 5:00PM

 

 

Mr Morningstar Money Man: Let's start with the big one. You do not need to be rich to invest. You can start investing with as little as $50 at a time. Deciding where and how to invest depends on many factors; goals, time horizon and risk. But you definitely do NOT have to have a massive amount saved up before you start. What you need to be a successful investor is time. Because the longer you stay invested, the harder your money works for you. Because like we always say, the key to investing is not timing the market, it's time in the market. This myth busted.

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Ruth Saldanha  Ruth Saldanha is Senior Editor at Morningstar.ca