facebookHi, a newbie looking at passive income, dividend stocks. i only hv 2-3k to start with, so was thinking about etfs. How should i plan out my first 2-3k into etfs and stocks? - Seedly

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Hi, a newbie looking at passive income, dividend stocks. i only hv 2-3k to start with, so was thinking about etfs. How should i plan out my first 2-3k into etfs and stocks?

Discussion (9)

What are your thoughts?

HI mose, 2-3k may be quite small an amount to start off with given that fees will eat considerably into your investment.

One strategy could be to adopt a DCA approach to automate the process of buying, say $500 per month, into any ETFs or stocks that you are comfortable with (after research, that is). While on the sidelines, you continue to read widely and increase your knowledge. This should beat you jumping into the market without the necessary tools and end up burning your fingers.

By starting small, you also help to overcome the first mental barrier that most investors have while making their first investments. And this sets you up for the journey ahead. All the best!

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Might as well spend more time to upgrade your financial literacy, and save up more starting invesmen...

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