How To Start Investing With $0 (My 7 Steps)

TL;DR

To start investing with $0, first build starting capital by finding money already owed to you or selling unused items. The seven-step approach begins with free searches for unclaimed property, back pay, pensions, insurance funds, tax refunds, and money from failed financial institutions; MissingMoney.com is the first suggested search. Read on for the specific places to check and ways to raise cash from scratch.

Transcript

so this is my number one secret tip for starting with no money don't laugh get yourself a tiny secret little traveling kitty that collects money like this come here kitty sometimes he's a little shy hi my name is andre jack i am first forever sometimes you get the comments that are like first first first no now i'm first to my videos and the last p... Read More

Key Insights

• 🤑 Claiming money owed to you by the US government can be a simple and free way to access funds you may have forgotten about.
• 🤑 Exploring different avenues for unclaimed money, such as checking with the Department of Labor or searching for unclaimed pensions, can lead to additional funds.
• 🤑 Selling and reselling items can be a quick way to raise money, and platforms like eBay and Craigslist make it easy to reach potential buyers.
• 🤑 Freelancing and learning a valuable skill can provide opportunities to earn money, even without a traditional job.
• 🤗 Video production and becoming a content creator can open doors to new opportunities and ways to monetize your skills.
• 👻 Crowdfunding platforms like Kickstarter can provide financial support for your ideas or projects, allowing you to bring them to life.
• 💵 Taking advantage of FDIC insurances and checking for unclaimed funds from failed banks or online brokerages can help you recover money you may have lost or forgotten about.

Questions & Answers

Q: How can I start investing with $0?

Start by looking for money already owed to you through unclaimed-property and government databases. The speaker’s seven-step approach also includes raising cash by selling unused items, creating a starting pool of money when you currently have none.

Q: How do I check whether companies owe me unclaimed money?

Go to MissingMoney.com and search your name to see companies that may owe you money. If you find a result, select the claim option and complete the identity-verification process to recover the funds.

Q: What kinds of unclaimed money might appear on MissingMoney.com?

Possible sources include an undeposited paycheck, an overpaid credit-card or utility bill, money left in a closed bank account, or a payment sent to the wrong address. The transcript explains that companies must eventually report money they cannot return to the government’s unclaimed-property division.

Q: How can I recover unpaid wages or back pay?

Check with the Department of Labor if an employer owes you back pay or violated labor laws. According to the transcript, the department may hold that money for up to three years.

Q: Where can I search for an unclaimed pension?

Search for pensions from companies that went out of business or ended a pension plan at pbgc.gov/search-unclaimed-pensions. The search can show whether you are owed pension money.

Q: How can I find unclaimed insurance funds?

For veterans life-insurance funds, check insurance.va.gov/unclaimedfunds if you may be a policyholder or beneficiary. Homeowners with an FHA mortgage can also check whether the Department of Housing and Urban Development owes them money.

Q: How can I check for a missing tax refund?

Visit irs.gov/refunds to check for a tax refund owed to you. The speaker gives a personal example of receiving a $1,000 check after overpaying taxes.

Q: How can I raise money by selling things I already own?

List items you no longer need on Craigslist, eBay, or OfferUp. Use high-quality photos or videos in the listings, then put the money raised toward getting started.

Summary & Key Takeaways

• The US government has a database where you can search for companies that owe you money, such as unreceived paychecks or overpaid bills. Visit missingmoney.com to check if you have any unclaimed funds.

• Other avenues to find unclaimed money include checking with the Department of Labor for back pay, searching for unclaimed pensions or insurance funds, checking for tax refunds with the IRS, and looking for funds from failed banks or online brokerages.

• In addition to claiming money, the video suggests selling and reselling items, starting freelancing, learning video production and becoming a content creator, and exploring crowdfunding options like Kickstarter.