Older person adjusting the thermostat to save money.

Last Updated on November 8, 2023 by Stacy Earl

You might think that if you have a fixed income, like money that comes in the same amount every month, you shouldn’t or can’t invest. But that’s not true! Investing isn’t just for the rich. Even if you have a set amount of money coming in, you can still invest. Here’s why and how.

1. Money Today and Money Tomorrow:
Inflation is the rate at which things get more expensive over time. That loaf of bread or gallon of gas that costs a dollar more next year? That’s inflation at work. If you’re just saving without investing, the purchasing power of your money decreases over time. But investments, especially those that offer returns above the rate of inflation, can help your money keep up with or even outpace rising costs.

2. Start Small:
You don’t need a lot of money to start investing. Some investment accounts even let you start with just a few dollars. It’s like planting a tiny seed that grows into a big tree over time. Little bits of money can add up over the years. Check out some of these investment opportunities at kashkick.com that let you start small:

  • Stash: Stash is an investment app for beginners. As a special bonus, you can receive $10 to invest from Stash when you fund your investment account with $5 or more!
  • Acorns invests your spare change from everyday purchases into a professionally built portfolio of ETFs consisting of up to 7,000 stocks and bonds. Invest as little as $5 to get a $20 bonus (when you keep your account open at least 30 days.)
  • Plynk™ is an investing app designed to help make investing easier using clear and simple language. Their goal is to help you learn investing, build confidence, and grow your knowledge along the way. 

3. Safety First:
Now, all investments have some risk. But there are safe investments out there. These are like riding a bike with training wheels. They might not go super fast, but they’re less likely to fall over. Things like savings accounts at banks or certain bonds are safer choices.

4. Get Help:
If you need help figuring out where to start, that’s okay! Just like you’d ask a teacher for help in school, you can ask a financial advisor about investing. They can give you advice and help you make good choices.

Even if you have a fixed income, investing is a smart move. It’s a way to help your money grow over time. Remember, it’s not about being rich or having a lot of money right now. It’s about planning for the future and making the most of what you have. So, think about investing, start small, and get help if you need it. Your future self will thank you!