Keeping track of your investments in this day and age can be as easy as scrolling through an app. Investment apps are growing in popularity and have quickly taken over as one of the main tools for investing. People are quick to jump on the bandwagon and develop different apps just to present more options and confuse us all. To make things clear, we have compiled a comprehensive list of the best there is out there.
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1 Acorns
Topping off our list is Acorns, a vehemently recommended app by many. It’s suitable for beginners and great for automated investing. This means you just push a few buttons and set your parameters and it does the rest for you – automatically. This is one of the apps that you can link your card to and it will round up all your purchases and invest the tiny difference.
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2 Stash
Another option that is similar to the popular Acorn, with one major difference. Stash allows you to transfer your knowledge of investing straight to the app. You can be more involved and customize your investments. You can make the decisions and choose to contribute to your account either automatically or manually.
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3 Robinhood
Just when you thought you were poor, Robinhood comes to the rescue. The trades do not require a fee. Just link your account to your bank and get started. It’s an investment option that comes with a lower cost and you get much of the savings right in your pocket. Upgrade to Robinhood Gold for free to enjoy other benefits (more fees may apply).
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4 Wealthfront
Do you hold down two to three jobs and would give anything to have some semblance of passive income? Wealthfront could be the solution. The built-in A.I. will help you invest intelligently while keeping everything at a relatively low risk. It considers your spending habits and goals to create the best path for you. It’s like having a financial advisor right in the palm of your hand!
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5 Stockpile
It doesn’t take a lot to start, and with no monthly fees only 99 cents on all trades. This is a great app for micro-investing that can get young adults interested in investments. You can fund their favorite stocks too or gift a more traditional gift card or e-gift card! There are ETFs ad single stocks available and dividend payouts. You can access almost any company via Stockpile and buy fractional shares.
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6 Tips Dollar
Tips Dollar offers a spend and earn policy which allow you to earn Tips dollars from purchases. You can then choose to gift these dollars, get cash back or re-invest it. Isn’t micro-investments the whole reason why people got started with these apps? Tips Dollar helps you micro-invest and monetize Tips dollars by transferring it to your personal bank account.
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Conclusion
Investments are a good way to make your money work for you. If you start early, you could gain priceless valuable knowledge and know-how to build yourself a portfolio that could pave the way to early retirement. Especially since everything can be accessed from your mobile device, there is almost no excuse not to get started. Especially since a lot of these apps do not require you to be a savvy investor. Some apps with built-in intelligence will guide you every step of the way to gaining passive income.
