Where/How to Start Investing? Part 2
I have found that there are 3 great trading platforms that are perfect for the individuals that are looking to to investing but don't know where to start. I find that most people say they don't have enough money to start investing or they don't have enough time to research stocks. These are all easily overcome by the 3 trading platforms that I will discuss in a series of posts. Disclaimer, I use all 3 of these platforms and so should you. Enjoy.
In this post I'll be addressing the most common reason people don't start investing:
"I don't have enough time"
The following app, Acorns is perfect at addressing this problem:
Acorns is an investment App that allows users to “round up” their purchases and invest the spare change into various portfolio structures. After downloading the app on your phone, a user would link a bank account(s) to the app. Each day, the amount of spare change remaining after a purchase is calculated into your investment account with Acorns. You are then free to invest the spare change in any one of the investment products offered by Acorns.
Acorns has 5 different portfolio styles for you to choose from (Conservative, Moderately Conservative, Moderate, Moderately Aggressive and Aggressive). The Conservative Portfolio will place 40% of your investments in Government Bonds. The Aggressive Portfolio will spread the majority of your investment across 3 ETFs: 20% in Emerging Market stocks, 25% in Small Cap stocks and 30% in Real Estate. All you have to do is pick one and Acorns will do all of the investing for you
There is a $1.00 monthly fee for using the app. However, consider that the average interest rate for a savings account is 1.00% and Acorns has provided me with a 2.45% return on investment over the past 3 months which includes the monthly fee.
If you use this link to sign up you will receive $5 from Acorns to start investing with: Acorns Sign up, And Get $5!
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