BUILDING WEALTH #5 - How to Start Investing — Even If You’re Broke

Feel Like You Can’t Start Investing Because You’re Living Paycheque to Paycheque?

You’re Not Alone, But You’re Not Stuck.

A lot of firefighters, especially younger ones or those with families, feel like they’re always a step behind financially.

• You’ve got bills
• Maybe credit card debt
• A lease payment
• Kids
• Groceries that somehow cost $400 every trip

And investing feels like something for “later.”

“Once I get ahead, I’ll start.”

Here’s the truth:

You don’t invest because you’re rich.
You get rich because you invest, even when it’s small.

This post is your playbook to get started today, no matter where you're at.

Step 1: Shift Your Mindset From “I Can’t” to “I’ll Start Small”

You don’t need $1,000 to start investing.
You don’t even need $100.

What you do need is a shift in perspective.

• Stop waiting for “extra money” (it rarely shows up)
• Stop thinking investing is only for the wealthy
• Start seeing every dollar you invest as a tiny employee working for you

$10 invested is better than $0 waiting.

Step 2: Find Your Starting Number (Yes, Even $25 Counts)

If you’re broke, your job isn’t to invest a lot. It’s to invest consistently.

Here’s a simple challenge:

Look at your last 30 days of spending

Find one expense you can pause for the next month:

• 2 takeout meals?
• 1 night at the bar?
• A couple random Amazon buys?

Boom, you just found $25–50.

That’s your starting capital.

Step 3: Pick a Platform That Lets You Start Small

You want:

• No or low account minimums
• Fractional shares (so you can buy part of a stock)
• Auto-invest options
• No BS fees

 U.S. Firefighters:

• M1 Finance
• Fidelity
• Robinhood
• Vanguard

 Canadian Firefighters:

• Wealthsimple Trade
• Questrade
• TD Easy Invest

These let you start with as little as $1–$25 and still build real portfolios.

Step 4: Choose a Simple Investment Strategy

You don’t need to pick the next Tesla.
You don’t need 20 stocks.

Start with a low-cost index fund ETF. It gives you ownership in hundreds of companies with one click.

Examples:

• S&P 500 ETFs: VOO (U.S.), VFV (Canada)
• All-world ETFs: VT (U.S.), XEQT or XAW (Canada)

Or just start with:

• A target-date retirement fund
• A robo-advisor that auto-invests for you

You’re not trying to beat the market. You’re trying to build habits and own assets.

Step 5: Automate It, Even If It’s $25 at a Time

Set it and forget it.

• Auto-transfer $25–50 per payday into your investing account
• Schedule it to happen right after your pay hits
• Use the same automation mindset as you do with checking gear at the start of shift

You don’t need discipline every day, just enough to set the system up once.

One day, you’ll look up and realize your broke self built something big.

Step 6: Keep Learning (But Don’t Wait to Start)

If you’re reading this, you’re already ahead.

But don’t fall into “paralysis by analysis.”

• Don’t wait to understand everything
• Don’t stress about picking the perfect stock
• Don’t obsess over the news

Just start. Learn by doing, not just watching.

We’ll walk with you every step of the way through blog posts, the Fireground Fund updates, and The Vault.

Real Fireground Example

“One of our probies started with $50/month on Wealthsimple in 2020. Four years later, he’s at $4,000+ and didn’t even notice the money was missing. Now he’s increasing it to $200/month and plans to buy his first rental property in two years.”

Not a finance major. Not rich.
Just disciplined, consistent, and coachable.

Recap: How to Start Investing When You’re Broke