by KYW's Salil Gutt

Many of us are reluctant to invest in the stock market because of a perception that several thousand dollars is needed to get started. Not true. Here is a way novice investors can get started with a lot less.

First off. Either go on line or call the 800 number of a mutual fund supermarket like Schwab or Fidelity Investments. Ask the rep to show you how you can access a full listing of commission free mutual funds which have a $500 minimum to open the account; Future additions do not mandate a $500 amount each time. It can be less.

Next. When selecting your fund determine your tolerance for risk. Conservative investors may want to select a balanced fund which is made of stocks, bonds and preferred stocks. If you are young, I suggest you forgo the balanced fund and focus on a total stock market index based on US stocks and a second total index fund based on foreign stocks.

Finally. Consistency works. Once your account is opened set up a link with your checking account where money is automatically withdrawn every month to feed your investment. Be sure to monitor the performance of your new investment every six months or so.