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Investing for Beginners | How I Got Started With No Money (broke as a joke 😫)

1274 ratings | 36239 views
How to start investing when you're a beginner and only have small amounts of money, a.k.a. you're "broke as a joke" was me many years ago. I had barely little money to my name in my early 20's because I was blowing it on junk I didn't need. Thankfully, I started an internship with a local investment firm and I started to learn a thing or two about investing. This led to me making my first investment into a mutual fund which opened the door for so many things. That's why I'm a HUGE advocate for people to start investing even if you don't have a lot of money to get started. I started with only $25 per month into mutual funds. Even though the mutual funds weren't that good (I found this out later on) I still learned a ton throughout the process. ➡➡➡And if you haven't started investing yet, here are some of my favorite online brokers to check out: ⬅⬅⬅ ✅ Betterment - Best company if you don't want to choose the investments. They do all the pickin' for you! https://www.goodfinancialcents.com/resources/betterment-youtube-roth-ira-millionaire.php 🆓💲5️⃣ Stash - Stash only requires $5 to open an investment account. Best part is you get $5 for opening an account. #boom https://www.goodfinancialcents.com/stash These options let you pick the stocks, ETF's or mutual funds YOU want to buy. If you want more control ✊🏼 then these are the ones to pick: ✅ Ally Financial https://www.goodfinancialcents.com/resources/ally-youtube-roth-ira-milionaire.php ✅ TD Ameritrade https://www.goodfinancialcents.com/resources/tdameritrade-youtube-roth-ira-millionaire.php ✅ Etrade https://www.goodfinancialcents.com/resources/etrade-youtube-roth-ira-millionaire.php Don't want to mess with the stock market? Then take a look at Peer to Peer Lending giant Lending Club: ✅ Lending Club https://www.goodfinancialcents.com/resources/lendingclub-youtube-roth-ira-millionaire.php ★☆★ Want More Good Financial Cents? ★☆★ 💻 Check out my blog here: https://www.goodfinancialcents.com/ Listen to my podcast here: 🎙 https://itunes.apple.com/us/podcast/good-financial-cents-podcast-investing-building-wealth/id775107294?mt=2 Pick up my best selling book, Soldier of Finance, here: 📗 http://amzn.to/2xOH78V Connect with me on Twitter: https://twitter.com/jjeffrose My most favorite inspiration T-shirt line, Compete Every Day: 👕 https://www.goodfinancialcents.com/compete
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Text Comments (107)
Gregg Jaclin (24 days ago)
Good advice. Even inexperienced investors can profit in the long run. Thanks for sharing your experience.
Thank you for watching 😀👍
Tyty Taytay (6 months ago)
Really loved this video im trying to get started and waisting my time bless you
MrGattor33 (7 months ago)
Little disappointed here cause you said you'd put the link for that $500 to half a mil in the description and it's not there.... what gives 😳😒
MatoMusic805 (8 months ago)
Hey Jeff Great videos. I’ve been wanting to better my financial situation as I’ve been living out of my car working 8-4:30 but really struggling to save. I am a high school drop out and lack confidence to take the step towards investing but your videos make me really want to start. I’ve been sharing your vids with all my loved ones. If there’s any advise you have for someone like myself or possibility for 1 on 1 coaching it’s greatly appreciated. Thank you.
MatoMusic805 (8 months ago)
Thank you!
Anthony Rojas (8 months ago)
I’m so glad I found your YouTube channel, thank you
Dea Lafi (8 months ago)
good encouragement Jeff!
Robbie Ragsdale (9 months ago)
Do you have a video on whole life insurance as your own bank and retirement plan
B Funky (9 months ago)
Are these accounts available for only US citizens?
Kat Lee (10 months ago)
Early morning motivation 😁 Thanks, I will get started today! Also subscribed 😃
TorchBaby (10 months ago)
This was amazing
Barbara Brinkmeyer (10 months ago)
My worst mistake cost me about $63,000. Ouch. I'll recover ... but it's embarassing.
Uhfgood (10 months ago)
I have social anxiety so I don't have a regular job. I make just enough to pay for my internet. I almost can't afford 50 dollars a month extra but I might be able to just do that. And I have to work my butt off just doing that.
Uhfgood (10 months ago)
Jeff Rose - right now I'm doing what I can do but I'm still looking. This is how I actually pay for my internet. Amazon's Mechanical Turk basically had me filling out surveys and various other odd jobs. Also user testing. Basically you test out a website or app and get paid for giving your thoughts. I love user testing it's just I don't tend to qualify for a lot of them so it's not like regular work.
sundrillmwd 11 (11 months ago)
How do you see betterment as a good short term option. say you put 10,000 in over a year. and your up 11,000. yes they say they wont penalize you for your withdrawal, but youll get taxed. so at 10 percent taxed your back to square one, dont make since even if you do like a 5 year short term withdrawal you still get taxed.
Mark Pelsone (11 months ago)
Check out my channel! You guys will like the lesson I made
justin Nelson (1 year ago)
Is there anywhere I can email you and ask you for advice. I'm straight out of college. Currently are investing in the stock market but need advice as far as where I should funnel money
Raul Ruiz (1 year ago)
Thanks Jeff love your videos very inspiring and moving.
Raul Ruiz (1 year ago)
Almost all of it. I'm from Australia and I came across your videos and kinda liking it. I started watching them (or listen while driving) and it starting to give me different perspective in terms of investing. I might consider ETF for diversification on my next investment. I also started reading books where I just purchased 'Rich Dad, Poor Dad' by R.K. as you mentioned one of the cheapest investments one could make but has huge benefit. Keep it up mate!
Family Trip (1 year ago)
Fluffy Bunny (1 year ago)
I’m just a stay at home mom, but the best advice I can give someone is start saving today, when you’re old you cant makeup for the lost saving years.
silver lining (1 year ago)
Hey Jeff, great video! I am new to your channel but look forward to seeing more. Do you trade futures at all?
silver lining (1 year ago)
https://youtu.be/dOVql0Cl0og Thanks Jeff
silver lining (1 year ago)
This would be 100% risk free for you. Just looking for your opinion. If you like it I think it will make a lot of money for you. Leave a comment in one of my videos if interested. Thanks
silver lining (1 year ago)
Yes I do. I am new to youtube but have spent 5 years learning how to do this. I have come up with a strategy I think you would be interested in. I would be very curious about your opinion of it.
Yasin Jibrel (1 year ago)
Yes please
Yasin Jibrel (1 year ago)
What is the something? Please explain.
rico211 (1 year ago)
Hey Jeff I'm 36 with two kids (6 & 3) & I'm a felon who turned my life around but unfortunately I won't be able to get the same job opportunities as the rest of society. I realize this & I kno I need to start investing for my wife & I so we're not working like a slave at 65 plus I'd like to start teaching my kids early about investing for their future. I think I should start with mutual funds but what do I read, where do I start), to learn which are the Good, the Bad, & the Ugly?
rico211 (1 year ago)
Jeff Rose did you mean to say that I'll "make more than 25%" ???
John Bernal (1 year ago)
Hello Jeff, late into coming into the game. 39 and just about to start investing and blogging. I am 1k challenging myself. Here is to the future.
Laura Rubio (1 year ago)
Hey Jeff. Im Laura from Colombia. I just came across your channel because I have been researching about investments. Im 30yo and I have a bank debt of almost sixty thousand dollars. Three years ago I made a huge mistake and I trusted people who convinced me to "invest" in this forex exchange company that ended up being a ponzi scam. I didnt have the money to star so I went to the bank and took a forty k loan. Needless to say I lost it all so now I have to pay the bank back those 40 plus interests which add up to 60k. Im working my ass off just to pay that money back. I dont have any savings or any other income and its been killing me. I realized that I need another way of saving for my future as I cant save money from my salary so your channel appeared from heaven. Thanks for your advice I will start investing in mutual funds and ETFs for the future. If I could I would take my first 100 dollars investment and I would take you out for a friendly dinner or coffee, but for now just reading your blog and watching your videos is good enough. Keep it up boy.
Jameson 87 (1 year ago)
I'll be honest. I'm as good as broke and I'm between jobs. And I have no more than $1200 to my name. So I'm not qualified to be giving anyone advise on money. But according to Dave Ramsey, the rule of thumb is do NOT take advise from broke people. So if I'm ever gonna grow this $1200; I know what I'm NOT going to do.
Erick Delgado (1 year ago)
Great Video Jeff ! I read the book of rich dad poor dad, can you do a video of some of your favorite books !
SHISLA Q (1 year ago)
Great video!
Tim Vecchioni (1 year ago)
Hey Jeff, Love the videos! Learning a lot. I worked at a job for almost 10 years and attempted to put some money into their 457 plan throughout those years. I have always been bad with money! I have about 8k in there but no longer work there because I am staying at home to take care of my son, soon to be sons this month! The wife is the breadwinner employment wise as my government job didn't pay much, in fact not enough to cover childcare...However, upon leaving my job, it's just sitting in my TRowe price account. To be more specific, it's the TRowe retirement 2050 plan. It has earned me over 11% over the course of the span of these 10 years. The question is that I can not add to this anymore. Would you recommend letting it sit? Withdraw it, pay taxes and use it to pay down debt first? Can you transfer it somehow to an individual account (index/mutual funds?) If not, would you recommend withdrawing it and reinvesting it? Just look for some solid advice! Hope you read this!
Mr. RoloElPablo (1 year ago)
Penny stocks on ally not at all worth it for a first timer?Following advice from Matt Morris news letter on the stocks not picking myself? Still no?
enis shllaku (1 year ago)
Hey Jeff, could you give a list of all the books that you would recommend?
futanari keekee (1 year ago)
Know what I like better than my Lamborghini..... Knowledge Lmfao
One Purple Flower (1 year ago)
Did you get mutual funds from the bank?
Jonvolca Man (1 year ago)
Ok I have finally done my emergency savings, budget, roth, 401ks, etc. Now what I don't have is an investment accounts due to the fear of fees. I want to start with one that is low cost like "Betterment" but not sure if I have to make monthly deposits for it to grow or if I can just make monthly deposits for a year then let it grow on its own.
Dave Lemberg (1 year ago)
Love this style of video compared to your goofy one liner inserts. Keep it up!
Terre Alexander (1 year ago)
Expecting a penny stock to rise to $20 is never a smart move. now from $1 to $5 or $1 to $7 or even up to $10- is Risky, but that's more realistic.
Rocky Hasan (1 year ago)
Rocky Hasan (1 year ago)
Yes i can JEFF.
Bryan O'Toole (1 year ago)
Really enjoy all your videos Jeff! Your channel has definitely come a long way since you first started and you make things simple and easy to relate to for someone from almost any background. Keep it up! On an unrelated note to this video, I’ve been investing in silver bullion for about 4 years and the price has dropped about 50% since then. What are your hones thoughts on precious metals as part of an investment portfolio, and where do you see them going?
Ds Fg (1 year ago)
Hey Jeff! Thanks for the video they r very informative
Joshua Mansfield (1 year ago)
Investing in books is probably the first step in my opinion. Great video by the way Jeff!
Joshua Mansfield (1 year ago)
Jeff Rose I started reading: "Think and Grow Rich" by Napoleon Hill. 💯
j lopez (1 year ago)
j lopez (1 year ago)
Sorry I had caps lock on lol , but thank you for that I been confused just started my 401k and a 401k roth and wasn't sure what it was because they had me sign up online, but thanks again for that and your videos , you been a good help to having me think and start in my future more, thanks again.
Gonzalo Saldana (1 year ago)
Why do I get a warning when I try to follow links of possible malware?
IS 4LIFE (1 year ago)
Thanks for the info!! Saved me some money!!!
Jade S (1 year ago)
Hey Jeff, have you ever heard of Folio first. If so, what do you think about them. I have an account with them and I'm thinking about closing it and going over to Schwab or betterment
Jade S (1 year ago)
Jeff Rose great thanks. I will be closing mine soon. They suck.
Kirtianand Sharma (1 year ago)
The soon is now....👍
Joseph Parton (1 year ago)
Online Investments referenced as "Online Properties." What are those?
Joseph Parton (1 year ago)
I agree. It is internet jargon and a way to sound more sophisticated but I just thought I'd pick on you about it a little bit. I've been on a sabbatical from the online World due to some things that have been going on with family but I have been continuing to watch and follow and looking really break back into it this year. Investing is a real interest area of mine as books like Rich Dad Poor Dad Cashflow quadrant did turn me on to that idea many years ago but just now getting to the place where I can actually dive into that more. Definitely want to get back into the online world with online properties, businesses and one of my goals is to become a successful published author as well
Joseph Parton (1 year ago)
LOL. Why didn't you just say websites in the video? LOL what type of website properties do you own other than your blog and some of the things I've see you reference before in videos?
Ernesto Alvarez (1 year ago)
Really like the style of your videos. This was very informative, Thanks a lot ! Happy New Year!
Brian Robben (1 year ago)
What are your thoughts on Bitcoin, Jeff?
Brian Robben (1 year ago)
Wow I missed that. My bad.
Johari Jaafar (1 year ago)
Very very true about the books. Great video Jeff
Johari Jaafar (1 year ago)
Believe it or not I finished the second book from Robert Kiyosaki "Rich Dad Guide to Investing." Finished the book two weeks ago after finishing his best seller Rich Dad Poor Dad. It's no secret that I am inspired to start investing and currently took the step to learn more and have my financial plan ready.. My current read is Business Adventure by John Brooks recommended by Bill Gates. Spending on a book worth every penny.
user_name_hidden (1 year ago)
Is LendingClub worth the investment?
Mery Kim (1 year ago)
Please can I investe in US bank account if I live in morroco or I most invested only in my country banks ? Thank you
eddgiles (1 year ago)
What's your take on precious metals ???
Tina teews (1 year ago)
Great video Jeff, can you recommend some investment companies with good reputation? Your thoughts of companies like fidelity or vanguard?
Johnny Cintron (1 year ago)
Book give away??? I’m only 16 and broke but I’m trying to invest in myself
Johnny Cintron (1 year ago)
Jeff Rose you’re right, thank you for your time
Deyan Dachev (1 year ago)
I just bought 3 Tesla shares by going in my overdraft. Don't do that people.
Bob Smiles (1 year ago)
Jeff Rose hell yeah I would buy Tesla You caught me at the right time to reply
Bob Smiles (1 year ago)
I got $1,600 and I want to invest in Tesla. But last time I checked, Tesla stock is $325 Is that worth it?
Deyan Dachev (1 year ago)
Haha, would be great if I can afford even one. I would preffer to have 3 propertys before my first Tesla though :D.
Derek Eudy (1 year ago)
Great video!
京都アンソニー (1 year ago)
Book shelf reveal?
京都アンソニー (1 year ago)
Awesome can't wait to get new recommendations. Plus I can throw some support from your affiliate links.
CSI (1 year ago)
I recently started investing in Wealthfront. So far so good. I’m thinking of opening a Roth IRA acct. Do you think it’s better to open it with the same company (like Wealthfront) or “diversify” with a diff company like Betterment? I’m not asking you to decide for me just wondering what you think about that for beginners. You are very motivating. Thx for your videos.
CSI (1 year ago)
Jeff Rose Thx so much for responding. You have an awesome Channel :)
Fu Lim (1 year ago)
Hey Jeff, unfortunately I am a current owner of a "penny stock", and lost 81% of its current value😭...i invested in it 6yrs ago. I was fortunate enough to make all my money back from individual stocks and ETFs this year in 2017! Great video Jeff, thumbs up!
Myraisins1 (1 year ago)
What's the difference between a Roth IRA and just putting say $500 per month into mutual funds until retirement?
Damini Djenaba (6 months ago)
You could pay taxes on any dividends collected from the mutual funds, but your Roth IRA is protected from taxes
Myraisins1 (1 year ago)
CSI (1 year ago)
Myraisins1 I’m not sure but it may have to do with taxes.
Vaibhav Brid (1 year ago)
Great video!!! This might be asking too much. Will love to see you make a video about the top 20 books you have read and the top 10 books you want to read. As usual your videos are always inspiring!
Tony Gonzalez (1 year ago)
SONNY da CUSE (1 year ago)
When I purchase any investments, I look at the fees. The fees can make or break your returns. 🤙
Erik P.T. (8 months ago)
I do too but I’m still financially illiterate when it comes down to investments
OrangeSodaTicTac (1 year ago)
Great video!
AJ K (1 year ago)
With the upcoming tax cut you can take that money you get extra and invest it You will not miss it and it will keep your wife from buying junk
Simon Bach (1 year ago)
Im going to be making a budget, and see how much I can begin investing, but im thinking about 20% on investing total, and also make an actual cash savings account, just incase, something goes wrong and I need cash.
sclyejt ly (1 year ago)
I’m beginner, thanks for sharing!
AJ K (1 year ago)
Good title because most Americans are broke
Crevetta (1 year ago)
Louisiana Cur I think it's obvious the middle class isn't getting richer but then again i don't live in america so i might be wrong
AJ K (1 year ago)
Crevetta so letting the government pick winners and losers is still not s good thing and because people get rich or richer doesn’t mean poor people get poorer Poor people in America have cars and cellphones and a better stocked fridge than I do
Crevetta (1 year ago)
Louisiana Cur I like how everyone thinks if you are against capitalism you are for communism... My family lost everything thanks to communism
AJ K (1 year ago)
Crevetta communism kills and everyone is equally poor
Crevetta (1 year ago)
The poor gets poorer and the rich gets richer... capitalism at his finest
Great video Jeff! I just uploaded a video talking about the five stocks that I recommend for beginners. Although there is upfront money needed, I think that these five stocks are solid for the long term
rico211 (1 year ago)
WhiteBoard Finance do you suggest MUTUAL FUNDS & ETFS as well for someone who hasn't started investing yet but is wanting to start today!
DougieFresh9 (1 year ago)
I subscribed to your channel
No, my video is for people who are 100% set on owning individual stocks rather than mutual funds or ETFs. I always recommend a solid mutual fund or ETF before diving into individual stocks.
Jean Cauvin (1 year ago)
Hey Jeff, Can you help me personally on a one on one basis. I'd greatly appreciate it. Let me know what steps to take
DavidM250 (1 year ago)
Jeff Rose what is your firm? I can’t seem to find it
Jean Cauvin (1 year ago)
Jeff Rose will do so. Thank you much
derrick smoove (1 year ago)
Hey Jeff can you make a video about the different places to put your money? I’m not sure how much I should be putting into a checking account, savings, or investment account etc. thanks
Purple Pixels (1 year ago)

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