Get to know micro-investing and how to grow your wealth with it

Micro-investing is widely thought to be one of the fastest-growing investment markets. Yahoo Finance reports that platforms are expected to reach a market value of more than $36.1 billion and a compound annual growth rate (CAGR) of 9.6% within the next six years.

This investment approach aligns with the modern economic climate and involves small investment values that can be as inconsequential as the cents rounded up from an everyday transaction. Rather than tossing small change into a wallet or drawer, micro-investors capitalise the value of these minimal values by using it to invest.

Get to know micro-investing and how to grow your wealth with it
Get to know micro-investing and how to grow your wealth with it

As a tool to help thousands of younger adults grow their wealth over time and put their finances to good use, the concept has attracted significant traction, particularly with millennials who find the simplicity of investing via their phones a streamlined, pain-free way to improve their long-term financial prospects.

Micro-investing explained

Bankrate explains that micro-investing isn’t for mega-rich investors or affluent fund managers but rather a way for normal people to tap into the power of the financial markets and educate themselves in the process.

The vast majority of people assume that investing isn’t for them, because they don’t have the capital assets or liquid funds to make considerable investments and may presume that precludes them from using even minor amounts of expendable income to invest for the future.

Options for those interested in micro-investing include:

Bank debit cards that automatically round up transactions to the next Rand and invest the difference in your chosen funds.

Frank Yeboah

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