Stocks can be intimidating no matter what your bank account looks like. Face your fears and talk to someone you trust who has already taken the leap. Buying in a down period will pay off but it could take time. If you need the money in the next five years, Mellody Hobson, president of Ariel Investments in Chicago, suggests you either wait for the rewards or consider another option.
QUICKTIP: Find top performing mutual funds and then contribute $50 a month to one that’s doing the best.