https://www.moneyunder30.com/best-investment-apps
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Idea behind the industry
The “too busy” investor
The undisciplined investor
The “it’s too hard to learn” investor
Betterment
Robo-advisor and financial advice
automates the investment process from start to finish.
give you a personalized portfolio of low-cost index funds.
They help you decide how much to invest and sync with your bank so that you have the option of regular automatic contributions.
uses a complex algorithm
option of speaking to a financial expert.
Pricing
$0 minimum and 0.25% annual fee for the standard account; $100,000 minimum and 0.40% annual fee for the premium account.
Stash
Beginning investors
Stash allows you to invest in fractions of shares, which means you can start with as small as 1 cent.¹
They offer you a choice of roughly 1800 single stocks and ETFs.² So there is a lot to choose from based on your desired risk, financial situation, and lifestyle.
Offer financial education.
Pricing
Beginner – This plan is $1/month and offers a personal investment account, bank account access⁴, and financial education.³
Growth – This plan is $3/month and offers all the features of the beginner plan, plus accounts with tax benefits for retirement⁵ investing.³
Stash+ – This is a $9/month plan that offers everything the other two plans offer, plus a debit card, custodial accounts (UGMA/UTMA) for up to two of your children⁶, and monthly marketing insights.³
Acorns
Beginning investors
automatically invest your spare change.
links with your credit and debit card and automatically “rounds up” the spare change to the next dollar on every purchase. You can also sign up for Acorns Spend and get a debit card that will round up in real time.
For example, if you bought a latte for $3.60, they’d automatically deposit 40 cents to your investment account, which can potentially add up to quite a lot every month.
Based on your desired risk, Acorns gives you the choice of five different portfolio options, which were created by Nobel Prize-winning economist Harry Markowitz.
M1 Finance
offers automated investing in pre-selected portfolios, or you can choose from any stock or ETF.
M1 is meant for people who like the idea of automating their investments, but still want some say on where their money is going. M1 Finance allows investors to choose from any stock or ETF.
Unlike robo-investors, you’re not restricted to their pre-selected ETFs, but they do offer preset templates for beginners. You can also set up recurring automatic deposits on a weekly or monthly basis, or any custom time frame you desire.
Pricing
Free of charge;
$100 minimum to open an account and $500 minimum to open a retirement account.
Pros
Less effort
Cons
Lack of control
Fees
Ability for “true” profit (accounting for inflation, etc)
