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What is the best site for a first time investor that is on a budget??

Started by Carol G.
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C

Carol G.

What is the best site for a first time investor that is on a budget??

J

Jamie N.

I just started using Wealthsimple. It invests the change from transactions on my debit card.

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Maria C.

I'm also curious about this. I've been looking into Acorns, Stash, and other apps that are suppose to be good for first time investors. Have any of you tried these apps or know if they are worth the time for someone just starting out?

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Aaron Y.

I've used Stash the last two years. They do a nice job of educating you and believe in investing for the long-term. I think you can sign up for a $1 fee per month package. I pay more to get the custodial accounts for my kids. Trying to instill in them what my parents didn't teach me. It'd be remiss of me if I didn't post this…Get Stash, an app that makes investing easy. If you sign up with my link and add cash, we both get $20 of bonus stock. https://get.stash.com/aaronv07z8

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Alan H.

It really depends on your willingness to invest or if you want someone to manage it for you. First make sure you have an emergency fund and that your not in debt. From there is invest in your companies 401k plan (especially if they match). From there put some money into a IRA account.

Deleted user

Is ACORN a good investment

I'm just starting on Acorns. Since the question was about someone on a budget I'll share my 1st impressions.

I advise against automatic roundups. Do it manually if you wish. I have both a checking and credit card with my bank. I never gave them my credit card info but they want to roundup up those purchases but remove the money from checking.

To me that;s a scary thought! Nobody wants checks bouncing from unexpected withdraws!!

I chose the $1 option in a conservative fund. That's a fund of mostly short term interest obligations so it's fairly safe. At this time the market is due to correct yet could rise sharply just as easily but there's risk with stocks. Just starting out safer is better IMO even if the returns aren't nearly as good. In time you can consider taking on a little risk in your portfolio.

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Manuel M.

I belive Fidelity Investments because they don't charge a fee while many of the others mentioned here charge monthly fees.

Deleted user

What's the lowest amount needed to start investing?

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Aaron Y.

Has anyone had problems with Stash?

What kind of problems? I've enjoyed being their customer and haven't had any issues.

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Vanessa P.

Does anyone know about REIT, REAL ESTATE INVESTMENT TRUST?

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Adryan R.

Does anyone know about REIT, REAL ESTATE INVESTMENT TRUST?

No, but it sounds interesting.

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Sonya J.

I have used acorn stash and robinhood. I really like stash and robinhood. you can invest as little as $5.00. I recently closed my acorn account. its a cumbersome and less interactive than stash and robinhood.

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