9 Tips to Retire With Wealth If You Make Under $50,000
9) Diversify Your Stock Market Portfolio
Investing in high-quality stocks is another proven way to grow your wealth and save for retirement. You can do so through products like ETF funds or mutual funds, even if you earn less than $50,000 per year. The earlier you begin to invest, the more time your portfolio has to grow. Diversification of assets is important, though. That can help protect you if one or more of your stocks loses value. Diversify across industries as well as geographical regions, to capture opportunities in different fields and parts of the global economy. Also own a variety of different types of stocks, from dividend stocks to growth stocks. By not putting all your eggs in one basket, you help ensure that your wealth grows steadily, toward a well-financed retirement.