3 Best Investing Apps for Starters

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 Investing was not the most developed concept in Middle Earth. Lucky for you, we have compiled a list of the best 3 apps for investing-on-the-go. 

1. Acorns (Website)


Acorns is a “micro-investing” app that works with your spare change. Literally. When you make a purchase, Acorns rounds up to the nearest dollar and invests the difference. When you grab a cup of coffee on the way to work in the morning for $2.15, Acorns rounds the purchase up to $3 and invests $0.85 into your portfolio.
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You can then choose from five different portfolio profiles that range from conservative to aggressive. The conservative profile means your money will likely grow at a slow pace, but in more stable, reliable accounts. An aggressive profile means there is greater risk for loss, but also greater risk for growth. Choose the one you’re most comfortable with and watch the results.

2. Stash (Website)


Stash has an identical pricing structure to Acorns, it doesn’t automatically invest for you. Stash provides users with educational content catered to their investing preferences.
If you’re just starting out, all of the terminology and acronyms can be overwhelming. While you won’t get in-depth analysis on all of the potential companies you can invest in, Stash helps you understand what all of the phrases mean.
You can choose between a values-driven portfolio or build your own customized portfolio. Once you’ve done that, you can set up the “Auto-Stash” preferences for recurring investments to create a sort of automated system based on your end goals.

It won’t take the process out of your hands, but Stash gives you the resources and information you need to get started in what can often be a confusing world. Stash is available on both iOS and Android devices. 

3. Ally Invest (Website)


Ally Invest is the investment portion of Ally Bank, an online-only entity with low overhead fees that caters to people that want to keep their costs low. It’s a popular platform with daytime stock traders, but it’s also a great way for beginners to get started. The cost per trade is $4.95, but there is no account minimums to worry with and plenty of tools to help you along the way.
Ally also provides educational resources to help you learn how things work. It’s a great option for the DIY investor. All ETFs are commission free, but you will see a small fee for mutual fund trades.
You should also know that Ally Invest does not have automatic investing or rebalancing options—everything is done by hand, but it helps you learn more about your investments and your portfolio. 

May 15, 2019 Share:

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