Investing Is Not As Hard As You Think
Are you a millennial? Do you invest? If you are like two out of three millennials, then your answer is “no.” Unfortunately, a staggering amount of millennials are not investing. This is in spite of the fact that now, more than ever, investing it has become extremely simple. Millennials do not have enough cash because of overwhelming student debt, and they really don’t understand stocks and bonds. The good news is that there are investment apps that make buying, selling, and trading stocks easy.
Two Of The Most Known Apps
While there are many apps that are available that can help you invest, two of the most well-known are Stash and Robin Hood. Let’s compare Stash vs Robinhood to see which one will be best for you. They both have the same purpose, but they go about helping you invest in different ways.
What To Know about Robin Hood
Robin Hood is a stock brokerage that is completely run online. This application allows you to buy stocks without having to pay any commission. With Robin Hood, you get access to the majority of the ETFs and stocks that are available through the stock market. Robin Hood has an application that stays up-to-date with the market data, and there is absolutely no fee involved with the use of this application. You do have to have enough money to invest in Robin Hood in order to buy a complete ETF or stock.
What To Know about Stash
Stash is similar to Robin Hood, but it has several key differences. Stash allows you to invest with almost anything. In fact, you can start investing with just one dollar if you wanted to. With the Stash, you are able to purchase fractions of shares through ETFs and there are thousands of different ones that you can choose from. Stash is more aimed at getting you into a full portfolio instead of just trading stocks. In order to invest through this application, you do have to pay a monthly fee; the beginner fee is only one dollar and the highest amount that you will pay monthly is nine dollars.
Which App is Best for You
If you are a new investor, then you do want to know which application is going to work best for you. Stash is a great app because it allows you to invest with little money and the risk of investing in it is low. The monthly fee for Stash can eat away at your overall portfolio. Robin Hood does seem to be the better of the two when it comes to money because it’s completely free. If you are just starting off investing in stocks and EFTs this is a great way to go because you can pick your own EFTs and stocks.
Just Get Started
Apart from the apps mentioned, there are other well-known ones like Betterment, Wealthfront, and Acorns. Regardless of which application that you decide to invest with, just get started. In reality, action is the cure to fear, so start investing and change the game for your financial future.