With most Americans unable to cover a $1000 emergency, it’s safe to say finding ways to save and build financial wealth and security is at the top of most people’s list. Jumping into the stock mark fray is one way to start on the road to financial health, the trouble is, most of us are clueless on how to truly start.
The thought process used to be that in order to buy and trade stocks you had to essentially be part of the country’s 1%, but that is no longer true. These days every day people can get their feet wet in the stock market with as little as $5, a cellphone and wifi. From apps that teach you the lay of the land to apps that help you automatically invest and save, going from novice to pro when it comes to the stock game has never been easier and more accessible.
If you’ve made it your goal to get serious about building for the future, check out these three apps for investment beginners that will have you feeling like one of the big dogs on Wall Street in no time.
What's great about Stash is that outside of allowing you to invest with as little as $5 and the Auto-Stash feature which makes it easy to turn investing into a habit, the app also provides easy to understand educational content, as well as tips and tricks to help build your investment knowledge.
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If you're new to stock trading and find it kind of intimidating, Robinhood is perfect for you. Not only does the app allow you to buy and trade stock without paying any commissions or trade fees, but you also don't have to wait for your funds to process when selling stocks. Soon, Robinhood will also allow fractional shares, which means you will be able to invest in thousands of stocks with as little as $1.
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In addition to making it easy to save and invest your money with features like SmartDeposit, which automatically invests excess cash in your bank account, and access to real-world financial advisors, what makes Betterment great for beginners (especially young ones) is that it also allows you to align your investments with your social and personal values.