Financial Markets
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European Financial Markets $109 European Financial Markets |
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Financial Markets and Services $45 Financial Markets and Services |
Do low income individuals invest in the financial markets?
Do low income individuals or those who are in the lowest tax brackets (those making less than $30,000 a year) invest in financial markets such as stocks and bonds?
What is the minimum amount individuals are making a year before they actually do invest, if $30k a year is too low?
Thanks
Sure.
Many do so indirectly via company or state pension plans but many also do it directly.
For low income earners, the tax breaks given by governments often result in a proportionally more useful freeing up of cash than the very rich (middle income earners usually benefit from these breaks the most though).
Most countries have these sorts of schemes – UK (ISA), US (IRA), Canada (RRSP), etc.
Someone who doesn’t earn a lot but wants to “climb up” the financial ladder is well advised to put 10% (or more) of income into such a scheme, especially when they are young.
There is no minimum for people to invest but obviously there are many factors that affect when, where and how much (e.g. minimum deposits, maximum benefit levels, personal needs, etc)
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