Best Automated Investment Apps (Business Tips)
https://www.moneyunder30.com/best-investment-apps
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\nIdea behind the industry
\nThe \u201ctoo busy\u201d investor
\nThe undisciplined investor
\nThe \u201cit\u2019s too hard to learn\u201d investor
\nBetterment
\nRobo-advisor and financial advice
\nautomates the investment process from start to finish.
\ngive you a personalized portfolio of low-cost index funds.
\nThey help you decide how much to invest and sync with your bank so that you have the option of regular automatic contributions.
\nuses a complex algorithm
\noption of speaking to a financial expert.
\nPricing
\n$0 minimum and 0.25% annual fee for the standard account; $100,000 minimum and 0.40% annual fee for the premium account.
\nStash
\nBeginning investors
\nStash allows you to invest in fractions of shares, which means you can start with as small as 1 cent.\xb9
\nThey offer you a choice of roughly 1800 single stocks and ETFs.\xb2 So there is a lot to choose from based on your desired risk, financial situation, and lifestyle.
\nOffer financial education.
\nPricing
\nBeginner \u2013 This plan is $1/month and offers a personal investment account, bank account access\u2074, and financial education.\xb3
\nGrowth \u2013 This plan is $3/month and offers all the features of the beginner plan, plus accounts with tax benefits for retirement\u2075 investing.\xb3
\nStash+ \u2013 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 children\u2076, and monthly marketing insights.\xb3
\nAcorns
\nBeginning investors
\nautomatically invest your spare change.
\nlinks with your credit and debit card and automatically \u201crounds up\u201d 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.
\nFor example, if you bought a latte for $3.60, they\u2019d automatically deposit 40 cents to your investment account, which can potentially add up to quite a lot every month.
\nBased on your desired risk, Acorns gives you the choice of five different portfolio options, which were created by Nobel Prize-winning economist Harry Markowitz.
\nM1 Finance
\noffers automated investing in pre-selected portfolios, or you can choose from any stock or ETF.
\nM1 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.
\nUnlike robo-investors, you\u2019re 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.
\nPricing
\nFree of charge;
\n$100 minimum to open an account and $500 minimum to open a retirement account.
\nPros
\nLess effort
\nCons
\nLack of control
\nFees
\nAbility for \u201ctrue\u201d profit (accounting for inflation, etc)
\n