The experts say that you need to start investing for retirement by the time you are 30. I’m well past 30 and haven’t a single dime in my savings account. Isn’t that horrible?
I know I should. I always mean to and even sometimes I do. But life happens and it seems like every time I start to get ahead, something blows up.
But recently I discovered an app called Stash. They have a 30 day free trial so I decided to check it out.
Basically it’s an investment app. You put money into mutual funds. I intended to start out slow with $5, the minimum required. I messed up by clicking buttons without reading and ended up with $15 instead of $5 but that’s okay. I went ahead and pushed forward.
I spent $5 on three different funds.
Okay I know investing $5 in something isn’t going to make me rich. But that wasn’t really my point. I was just trying to learn how it all worked.
After two weeks I put another $5 into my Stash account, and then invested that in another fund.
At the end of the month, I seen a small return on all of my investment funds, except for one. I picked “All That Glitters” because someone told me that investing in things like Gold and Silver during times of political turmoil was a good idea. I put $5 into my fund during the Trump and Clinton election. So far I’m down 2.16%.
Overall though I was still ahead, making more than I invested, so I put another $5 in. This time I put it in a fund that I had previously invested in. The Raw Earth fund had the most gains so now with a $10 investment into Raw Earth, I’m happy to say that I now am showing a 4.27% growth.
By investing small amounts, $5 or $10 here and there, it makes saving money easier. My sister invests 4% of her check every month into her retirement account. That’s only $250 a month, and I know I should do that too but I just don’t. I’m sorry I’m just not that responsible.
Instead I’m going to try it this way. I’ll put $5 in every time I have a little bit of money. During the first 30 days of using this app that turned out to be $30.
By the way, you can find the STASH app in iTunes. It’s free to use for the first 30 days and then after that it cost $1 per month.
If you don’t know anything about investing, don’t worry. They make it easy.
- Step 1: Deposit some money into your Stash Account
- Step 2: Tell it something you like. ie: Movies, Jewelry, The Environment (You have a lost list to pick from)
- Step 3: Invest the money you put into your Stash account in one of the suggested funds.
- Step 4: Wait and watch your money grow.
You won’t get rich over night but it’s nice seeing that $5 you put in turn into $5.10 and then $5.43 and then who knows how much.
This isn’t really meant for short term earnings. It’s about the long haul. Put some money in today, invest it and forget about it. Over time that $5 will grow. It will one day because $10.
If you put just a tiny bit of money in your Stash account every time you can, it will start to add up.