Ways to invest $1,000 - First Approach

There are two approaches to investing $1000 or less: the mutual fund route or the stock route.

Investing In Mutual Funds

The first step to investing in mutual funds is to research and find a mutual fund that suits your interests. It also has to have a minimum investment which you can afford. Most mutual funds have $2500 minimum investments for regular accounts but some funds let you start with $1000 or less like Invesco funds ($1000) or the Pax World Fund ($250).

The next step is to decide what kind of account you want to open up. The options usually include custodial, joint, IRA, and regular accounts. Custodial accounts are what you would open up if you are a kid and want to invest or if you are a parent who wants to open up an account for their child. You might consider a joint account if you want the account in both you and your spouse's name. Individual Retirement Accounts (IRA's) are excellent ways to save for retirement with tax benefits but you should only open up one of these if you plan on using the money for retirement. Regular accounts are the standard type of account.

Once you have decided what fund you want to invest in and what type of account you want to open, all you have to do is fill out the forms and mail them in and relax as your money grows. Since your money is managed by professionals, you probably won't have to worry about it as much if the market takes a little dip. You can also check how your mutual fund is doing online by entering in its ticker symbol.

Ways people get rich

Before you can start selling online, you need to find something you can sell! Clearing out your unwanted items could be a starting point - but it won't last forever.


The ideal thing to do is to choose a product you yourself feel passionate about, because you'll find such a product easier to sell, but you can (and should) teach yourself to sell any product.
At this stage it's important that you don't put limits on yourself, so keep an open mind.

When searching for products to sell - keep asking yourself "Who would want to buy this product - and what would they be willing to pay for it?" This is crucial - because you want to make a profit - so if you can't get a product cheap enough to put on a markup, it's best left alone!

This leaves you with another decision to make: "Where can I get hold of my product?"

If you have your own product - fine, but most people will have to go looking, so where can you go? There's lots of places! Car boot sales or garage sales are good places to go when you start out. Arriving early will more often than not help you find some excellent bargains. Other options could be to go to wholesalers or stores who buy products in bulk to sell them on for a low price. Or - you could look out for items for sale in retail shops. Buy them, and wait for the price to go back up, and you could sell them on for a tidy profit.

A relatively new thing that many online sellers have started doing - something that is increasing in popularity - is dropshipping. This is a convenient way to start up, because you will never have to handle products, and take care of customer service. All you do is selling a product to a customer online, take payment from the customer, and order the product with the dropshipper - who will then send the product to the customer directly.

What ever way you decide to start selling products online - the opportunities are endless - both when it comes to choosing your product and selling it.