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The idea of investing has always terrified me, because I worry that I don't know what I'm doing. The idea of investing my money used to absolutely terrify me. We all have our own reasons, but I know I'm not the only person who's approached the stock market with trembling hands. The average stock market return is about 10% every year. After maxing out my Roth IRA, I started putting money into a brokerage account, specifically investing in index funds.

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You don't have to be wealthy to start investing — $100 is a perfectly fine amount to tuck away. We asked five financial planners how best to invest that $100 and they suggested Roth IRAs and more. To prove this, Insider spoke with five certified financial planners, each offering advice for how they'd invest a simple $100. Fill your health savings accountFrank McLaughlin, a financial planner with Merriman, agrees with Botto that a Roth IRA is the best place to invest $100. "If you're looking to invest in your future, what future do you want to invest in?"

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She started investing early, and increased her rate of investment after learning about FIRE. And these accounts are separate from Pham's husband — together their estimated net worth is just under $2 million. And when it feels easier to just spend freely, tracking her net worth has helped keep her focused. "That gives us another safety net," Pham says, noting the pension as an added benefit to working in public service. "By then, we should have at least $2 million in net worth.

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After years of denying myself, I experienced "frugality fatigue" and went on a splurging binge. I added fun spending and a weekly treat to my budget so I don't feel deprived. Frugality fatigue led to overspendingI realized I was experiencing "frugality fatigue." I made 2 important changes to my budgetThe key to avoiding frugality fatigue comes in allowing small splurges or occasional unnecessary spending. I added 'fun spending' to my budgetBefore my mindset switch, I felt guilty about buying things for myself.

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Lifestyle creep can leave even extremely high earners struggling with debt, saving for retirement, or meeting other financial goals and obligations. HENRY stands for "high earner, not rich yet," a common description of those who have fallen victim to lifestyle creep. If you're expecting a raise, Castro says it's important to look at your budget and goals before it goes into effect. Create habits while you're youngAccording to Drucker, one of the best defenses against lifestyle creep is building strong saving and investing habits young. Go back to the basicsIf you've found yourself with a lifestyle creep problem, both financial planners advise going back to the basics of budgeting and planning.

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He started purchasing real estate in 2016 as a strategy to reach financial independence and has since acquired six properties. Chaw is also a pharmacist, a job he plans to keep for the foreseeable future despite his significant real estate income. Related: How to get into real estate investing »2. "I don't want to be in a position where I'm desperate and having to make my next buck in real estate," he said. When he started investing in real estate in 2016, he planned to use the income stream to reach financial independence over seven or eight years.

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Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). A travel rewards credit card will help get me back on trackBut I was determined, and giving in felt like letting myself down. Though I considered them all, none felt like the right move, until I started thinking about opening up a travel rewards credit card. Note that credit card lenders may use many different variations of credit score models when considering your application. Like many travel credit cards, my card has a high interest rate, so I always pay it off in full.

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McGlown, you have two options when entering real estate: "Do you want to be an investor, or do you want this to be your occupation?" McGlown, a software engineer and self-made millionaire, wanted to get into real estate investing as a way to earn passive income. When he bought his first investment property in 2019, he knew that he was strictly looking to grow his wealth, and not make this his new job. Saving for the investment wasn't easy, but it also wasn't new to him. So, he employed the same strategies he used back then to save up for his investment property.

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I was a bit naive about money when I started "Broke Millennial," but reading it has been a big help. What started as a blog titled "Broke Millennial" has now turned into three books, online courses, and multiple presentations about personal finance as it relates to young adults. As a young adult myself, I'd been aware of Lowry's books for a while, and recently sat down to read the first book in her "Broke Millennial" series. I liked that "Broke Millennial" promised to do more than just cover credit cards, debt, investing, and budgeting. "Broke Millennial" certainly lived up to these promises.

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