Your bank account may have just gotten fatter thanks to the $1,400 stimulus check. But with a little time and patience, you could make that money grow into way more than $1,400 by investing it. Of course, investing your payment only makes sense if you don’t need the money for current expenses, you have an adequate emergency fund, and you don’t have high-interest debt.
If you can afford to invest your stimulus money, exchange-traded funds, or ETFs, are a great place to start. You can invest in hundreds or thousands of stocks with a single purchase. You buy and sell ETFs in exactly the same way that you’d buy or sell a stock.
Vanguard ETFs have some of the lowest management fees out there, and these three Vanguard ETFs could turn a $1,400 stimulus check into $5,000.