Hazy on Investing? You Can Invest in Cannabis Stocks for as Little as $5
It’s time to get serious.
You’re finally making some green. You know your money needs to do more than just supply you with fun memories and Cheeto-dusted fingers. Heck, your parents have been hounding you to start investing.
But you don’t just want to invest. You want to invest in an industry you believe in. One that could take off and make money.
You want to invest in cannabis, and now you can.
Stash is an app that lets you start investing with as little as $5 and for just a $1 monthly fee for balances under $5,000. It only takes two minutes to get started. Need a nudge? We’ll even give you an extra $5 after your first investment!
What’s All the Buzz About Cannabis Investing?
In case you’ve been under a rock, there’s big news in the cannabis industry.
It’s not just for Cheech and Chong wannabes hanging out and listening to Phish songs anymore.
It’s big business.
Currently 29 states allow doctors to prescribe cannabis for medical purposes. This is big news for patients with chronic pain, those receiving chemotherapy and for a number of other medical issues.
Cannabis use is gaining popularity outside of medicine as well. Industrial uses, such as producing hemp for fabrics and textiles, are helping to keep the market flowing.
Cannabis retail sales in the United States are expected to hit nearly $10 billion this year, reports Marijuana Business Daily. That number could billow up to as much as $22 billion by 2022.
The budding industry needs cultivators, packagers and dispensaries for medical marijuana. That’s just a small part of what keeps this industry puffing along.
All of these emerging businesses could provide opportunities for investors looking to boost their portfolios.
We can’t ignore the elephant-shaped smoke cloud in the room: This business is still illegal in some of the country. Cultural attitudes and political battles make its future a bit uncertain. Add that to the potential risk of any investment, and, well, you just have to weigh your options wisely.
Plant the Seeds of Your Financial Future
Maybe you’ve thought about investing, but it always seemed a bit out of reach. A rich man’s game.
But you don’t have to have tons of money to invest in the cannabis industry. Using a microinvesting app like Stash, you can invest in increments as little as $5.
Stash curates investments from professional fund managers and investors and lets you choose where to put your money. It offers more than 40 exchange-traded funds, including one for those who are already seeing green on the cannabis horizon.
But it leaves the complicated investment terms out of it. You just choose from a set of simple portfolios reflecting your beliefs, interests and goals.
Once you sign up with Stash, take a look at the app’s portfolio options, including one cannabis-related ETF, to find an investment blend that meets your goals. You can be as conservative or aggressive as you need to be.
It’s your future; invest the way you want to invest and put your money in the markets you think will help it grow like a weed.
Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.
This article contains general information and explains options you may have, but it is not intended to be investment advice or a personal recommendation. We can't personalize articles for our readers, so your situation may vary from the one discussed here. Please seek a licensed professional for tax advice, legal advice, financial planning advice or investment advice.