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Charles Schwab

Saving when you're young? You can start small

Saving when you're young? You can start small

When you're young and juggling lots of financial responsibilities, from repaying student loans to saving up for a down payment on a home, you may have only a few dollars left over each month to put away for retirement.

The problem is, you generally need a lot more than just pocket change to invest in the mutual funds that will help grow your savings.

Today, the average minimum investment for a U.S. stock fund — a core holding in any young person's portfolio — is $4,000, according to Morningstar, an investment data provider.

Discouraged? Don't be, because there now are plenty of ways to get around the minimum investment hurdle. Consider the...