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Is it really worth it to invest such a small amount?
Is it really worth it to invest $1000 into a no-low mutual fund? Don't get me wrong, I am a big fan of investing and having money work for money, but by investing that $1000, you would lose the liquidity to your money for approximately $100 or 10 percent return. Subtract commissions from that and you would have about $86. Is it worth it to go through risk and lost of liquidity for $86? I personally would feel ripped off, but I got friends who wish to invest so little.
The only good thing I see is that once they get in a habit of saving, small amounts would eventually add up to something big. But what I don't understand is, why not keep their money in a checking account until you have maybe like $5000 before investing it.
2 Answers
- Anonymous1 decade agoFavorite Answer
If you are young, it is very much worth it. Just look at how that can grow with just average of say 8 percent growth.
- bob sharkLv 71 decade ago
A no-load mutual fund means you pay no commissions.
And the sooner you start to save this way, the sooner it will grow.
You get no interest in a chequing acct, why would you put it there.
You lose no liquidity having it in a mutual fund, you can get your money in a couple of days.
But read the fine print on redemptions, they may charge you 2% for selling within 3 months of of your itial purchase.