I was able to save a few bucks again ($100) and deposit to my ROTH IRA account. Yes, my ability to save is limited therefore I depend on increasing my income and thus I trade options to make more money. But if you are just starting the investing journey and you only have a few dollars to invest, I hope this will be a good inspiration for you how you can start with small money.
There are other strategies out there, but this one works best for me.
I invest a few dollars into commission free ETF which pays dividends and save money this way. Once I save enough (I have a minimum limit of $1,000 per stock purchase), I sell the ETF and buy a dividend growth stock.
I use RWX ETF for this purpose which pays around 3% dividend and so far I was able to make money with this ETF, unlike the others where I mostly lost money.
Tomorrow, I will be adding 2 shares for free to my RWX holding. That means I will have saved $765.17 dollars. I will need to save another $234.83 dollars to have $1,000. After that, I will be able to sell RWX and buy another stock in my ROTH IRA.
Which of the following stocks would you buy if it were you?
Thanks for voting! And if you have any other stock idea, use comments below to share your tip!