Of all the questions investors ask me, I get this one more than any other.

An investor will reach out to me and ask, “What investments and strategies do you recommend for those who are not accredited?” In this instance, maybe the investor is feeling discouraged, or maybe he/she doesn’t know what to do next or even what to do first.

Before I jump in, I should tell you that I’m not a certified financial planner, nor do I understand your individual strengths and weaknesses enough to recommend a specific investing strategy just for you.

What I can do is break apart the myth that lucrative investments are only accessible to accredited (or high net worth) investors. That’s right, it’s a MYTH!

Although “accredited” status does allow an investor more access, there are still plenty of opportunities available to those with limited capital.

But before we get into that, I’d be remiss if I didn’t cover some of the essential decisions you should consider making with your money before investing it.

What to Think About BEFORE Investing

All investments involve some level of risk, and it may be wise to build your own financial safety net before taking that risk on. Of course, the same is true about life: The unexpected can happen.

Are you set up financially to weather potential storms? By this, I don’t only mean literal storms and natural disasters, but also life events that can occur within your family unit (i.e. job loss, illness, divorce, or even death).

Related: What is an Accredited Investor? (And The Arbitrary SEC Rules That Hurt Young Investors)

I was at an event a few years ago, where these two questions were asked, and they’ve stuck with me ever since:

  1. What would you do if you couldn’t work for two months?
  2. What would you do if you could never work again?

Reserves are important at any age and any income level. A common goal is to have enough cash accessible to cover three or more months of expenses should you ever need it. While cash in retirement accounts isn’t impossible to access (and some types of accounts are more liquid than others), a savings account is a good place to start.

If you’re looking to invest your capital and you don’t have life insurance, maybe you should consider buying insurance first, especially if you have a family to support. Plus, your insurance contract can serve as an investment in and of itself. For example, when I was first starting out I only could afford term life insurance, but later on, I was doing much better financially,…