If you really want to get ahead financially, investing is essential. It’s how you make your money work for you rather than you working for your money. And who doesn’t want that?
When it comes to investing though, we hear common two reasons people haven’t started – “I don’t have enough money right now” and “I don’t know anything about the stock market.” Well, I have some great news: You don’t need to be rich or be an expert to make money investing.
Check out these simple ways you can start investing today.
1. Robinhood – Invest Like An Expert Without Paying For One
Investing money can be scary, especially for first-timers. There’s so much to learn, plus most financial advisors and firms take a good chunk of your earnings via fees for portfolio management and trade commissions. Who wants to deal with all of that while also putting your money on the line? Not me.
Enter Robinhood, a revolutionary app turning the investment game on its head. This app serves as an online brokerage, but unlike traditional ones, it allows you to trade stocks and exchange-traded funds (ETFs) 100% fee-free.
Download the app for free and then create an account — there’s no minimum deposit required which means you can get started investing right away. And instead of paying a financial advisor to help manage your assets for you, Robinhood gives you the tools you need to manage them yourself within the app, plus educational resources to help you learn along the way.
Robinhood gives you the freedom to invest as little or as much as your comfortable with and saves you money on investment fees, keeping your money yours.
2. Stash – The Simplest Way To Start Investing Is Here
If you’re not sure where to start investing, you’re not alone. While it can feel complicated, there is an easy ways to start investing.
A simple (and free) way to start investing is Stash. Stash is a micro-investing app that lets you purchase fractional shares and ETFs – that means you can with whatever spare money you have. The app walks you through your options and provides recommendations based on your interest, goals and risk tolerance meaning you can find the perfect investment option for you today.
Wondering if you have enough money to start? We suggest you make your first $100 deposit as soon as you open your account, but the minimum is just $5.
If you need an incentive to start, Stash is giving all new users a free $5 bonus after you invest your first $5. What more could you want?
3. Morning Brew – This Is Every Beginner Investor’s Secret Weapon
You can’t become a money whiz over night, but you can become knowledgeable about how to make money investing by reading Morning Brew every day.
More than 1.5 million people read this free newsletter every day to get the latest business and investing news, written with a sprinkle of humor. Unlike traditional business news, Morning Brew delivers information to you in fun and easy recaps that only take five minutes to breeze through.
If you want to learn more and get comfortable before you start investing, subscribe to Morning Brew.
4. Chime – Open A Free Savings Account & Invest In Your Future
What are you going to do with all this extra cash if you don’t have a savings account yet? Consider joining an online-only bank like Chime which offers 100% fee-free banking.
Here’s what makes Chime the perfect savings account for people with money to invest:
- It’s 100% fee-free – open a Chime account now and never get another overdraft fee again
- Automatic savings – automatically round up your transactions to the nearest dollar and get difference added to your savings Account
- Get paid two days early – get paid via direct deposit and you’ll get your paycheck before your coworkers.
Open your free account today and see why Chime is one of the fastest-growing bank accounts in America.
5. The Hustle – Stay Up To Date On The Latest Business News
To invest in stocks you need to know the market; that means you need to have a good understanding of today’s business and technology world. That’s where The Hustle has you covered.
The Hustle is a fun and easy-to-read newsletter (that’s only a five-minute read) used by more than one million people to get the latest and most important business and tech news. When you sign up today with your email, you’ll get the newsletter delivered to your inbox six days a week — Monday through Friday, with a longer special edition on the weekend called The Sunday Story, which does a deep dive into company founders, case studies and interesting trends you should be aware of.
Get inspiration for investments by reading about the latest trends and profitable business sectors as well as access research to help inform your decisions and tips on what your next investment move should be. Joins the millions getting business smart with The Hustle for free.
6. Fundrise – Easily Invest In Real Estate With Only $500
Real estate can be an extremely lucrative for investors (I’m talking millions, people). Previously, investing in real estate was something only the rich could afford. But now, thanks to Fundrise, anyone can invest in real estate regardless of how much money they have.
Fundrise is a low-cost digital real estate investment platform. Make a $500 deposit minimum and you’ll get a diversified portfolio with dozens of private real estate projects, hand-picked for your goal, that could see an annual return ranging between 8.7 to 12.4 %.
Your portfolio will be managed by a team of Fundrise real estate professionals and you’ll get ongoing updates about the progress of all of your individual investments.
Fundrise only charges a fee of 0.15% (lower than most traditional investment advisors) on your account balance annually. If you’re not satisfied with Fundrise’s performance within your first 90 days of using the service, your original investment amount will be returned to you, guaranteed. So why not take the chance?
7. Credible (Bonus) – Consolidate Your Debt To Invest In Yourself
Debt consolidation isn’t as complex as it sounds. All you’re doing is borrowing money at a low-interest rate and using it to pay off high-interest debt. That means your monthly interest repayments go down and there’s only one bill to pay each month. Simple but effective!
If you want to see how much debt consolidation could save you, check out Credible. Credible lets you search all the top online consolidation and refinancing options for free. The best part? It is completely free to use. No gimmicks, no hidden fees.
Get your real pre-qualified rates in two minutes then apply for the loan with the best terms for you directly via Credible.
Credible offers personal loans ranging from $1,000 to $100,000, with APRs starting at 5.95% (with autopay). People with a credit score of 660 or above get much better rates.
8. Everyday Life (Bonus) – Find Affordable Life Insurance & Invest In Your Family
One of the smartest financial moves you can make is investing your money and growing it for future use. Unfortunately this takes time and the future is unknown; you might not have as much time as you hoped to build a large nest egg. In today’s fast paced world it’s best to be prepared for anything, that’s why Life Insurance is a good idea for anyone that has a family or loved ones that rely on them.
This online insurance concierge service is totally revolutionizing the life insurance game. Instead of the fixed and overpriced policies that traditional insurance companies push on you even if it’s not a fit for your needs, Everyday Life will build a policy around you and your family’s unique circumstances that adjusts as your needs change over time.
Policies produced by Everyday Life are often 50% to 80% cheaper than those offered by traditional insurance companies. Costs and coverage will automatically decrease over time as your children age, your savings grow and retirement nears, which will ultimately save you a lot of money. Policy terms range between 10 to 40 years, with a coverage amount of up to $20 million.
Take a quick and straightforward assessment (it takes 3 – 5 minutes) and the information gathered from it will be used to give you a personalized life insurance plan recommendation and quote and if you want, you can purchase immediately.
9. Digit (Bonus) – Save Money Automatically And Invest It Later
The first step to investing is to save money in a savings account. What if you could save money without even trying? Well, we have a little hack that makes stocking away money much easier than you might think: Digit.
Digit helps you save money effortlessly. It works very differently from other saving apps by analyzing your spending and automatically transferring small amounts of money throughout the month into a savings account so you don’t even miss the cash.
All you have to do is sign-up, create a “savings goal” and watch your fund build in the background. The cash is always accessible so the risk is absolutely zero. Getting to your goal is going to be much easier than you might think!
Not convinced? Try it for free for 30 days!
10. Acorns (Bonus) – Invest Your Spare Change With Micro Investing
One of the best ways to see your money grow is to invest it. But throwing down a couple hundred dollars towards an investment portfolio (which is what many traditional investment accounts require) is a lot to ask for from any first-time investor, especially if you’re living on a budget. If you want to start investing but aren’t quite ready for a deep dive into the stock market, Acorns can help you inch your way in through micro-investing with your spare change.
Acorns is an app that enables you to invest small amounts of money with every swipe of a linked debit /credit card or payments made through a linked PayPal account. The app will automatically round up every transaction to the nearest dollar and transfer it to your Acorns account. As soon as you save as little as $5, the app will then start using that money to buy fractional shares of stocks and bonds (there are 7,000 available for it choose from) to build you a diverse portfolio based on your investment goals and risk comfort level.
You can also set up recurring daily, weekly and monthly or one-time investment deposits to your Acorns account.
Acorns’ plans only cost $1, $2 and $3 a month.
11. Webull (Bonus) – Try It And Get Free Stock (Seriously)
If you’re looking to build wealth in the stock market on your terms — even if you’ve never invested before, then Webull is for you. The flexibility it provides will give you peace of mind and an upper hand over everyone else.
- On Webull you can buy and sell stocks and exchange traded funds (ETFs) for free.
- While other people are limited to the 9:30 am to 4 pm stock market trading hours, Webull gives you an extra 9.5 hours worth of trading time every day.
- There are no minimums, so you can start investing with any amount you have.
Want to hear the best part? Webull is giving away free stock to new users! Open a Webull account today to get one free stock and deposit any amount into your account to get another free stock valued between $12 and $1,400.
With all the perks Webull has to offer, you’ll be investing like a pro in no time.
12. Blooom (Bonus) – Optimize Your IRA and 401(k) To Boost Returns
We all know we should be investing part of our paycheck into a retirement account. Unfortunately it’s easier said than done. Which begs the question, when was the last time you checked your IRA or 401(k)? You likely haven’t lately because you don’t understand what you are looking at when you do (don’t worry, the confusing jargon and pie charts stump us all).
This is the year to take control of your retirement savings once and for all.
Blooom is a robo-advisor that does the work for you. It stays on top of your 401(k) plan and optimizes your investments regularly. It helps you meet your financial goals without all the hard work. Get started with an entirely free analysis of your 401(k) plan so you can understand your investments and uncover unnecessary fees. For only $10 per month after that Blooom will optimize your investments and minimize what fees you pay.
Blooom’s median client saves a whopping $106 in fees just in one year. By retirement age, the median Blooom client saves a staggering $24,257 on hidden investment fees.
Stop wasting money on fees. Let Blooom manage your 401(k)
13. Fiona (Bonus) – Find A Loan With The Best Terms For You
It’s no secret that it takes money to invest, and unfortunately money doesn’t grow on trees, but it is possible to get the money you need with a loan. When your savings fund can’t cover it all, Fiona can help you get the money you need quickly.
Just take two minutes to answer a couple of questions about yourself and what you need the loan for and almost instantly you’ll get a list of personalized rates from thoroughly vetted lenders. To make the whole loan rate comparison and application process easier and more straightforward. Apply for the loan with the best terms for you directly via Fiona.
The loans offered are between $1,000 and $100,000, lasting between 24 and 84 months. Rates start at 4.99% and people with a credit score of 660 or above get much better rates.
14. Betterment (Bonus) – Investing Made Easy With Low Fees And No Minimum
Investing doesn’t need to be complicated and is easier than ever with Robo-advisors. Betterment offers personalized retirement savings plans, low fees (that is something that kills so many people when they are saving for retirement) and pretty incredible customer support.
Tell Betterment what you’re saving for — retirement, general investing, emergency fund — how much you want to save and when you’ll need the money by. A personalized portfolio will be built around the information you provide with a risk level and mix of investments that are best suited for your goal. Throughout your investment journey, you’ll get recommendations for how regularly and how much you should contribute money to your account, portfolio rebalancing as needed to maintain your risk comfort and so much more help that will really come in handy.
For all of this, Betterment will only charge an annual fee of 0.25% for its digital plan or 0.40% for its premium plan. And unlike other investment accounts, you’ll never be charged additional fees for trades and transfers.
You don’t want to leave your retirement savings up to chance. Per Betterment, you could earn 38% more on your money than you would with traditional retirement plans.
15. Ellevest (Bonus) – Investing Help For Women By Women
We’ve all heard about the gender pay gap — women earn 80% on average of what men earn — but another wealth gap that seriously deserves our attention is the gender investing gap. Women aren’t investing as much as men, thus leaving them with less money in retirement. According to a new study from Merrill Lynch and Age Wave, over their lifetime, women accumulate $1,055,000 less than men. However, with women outliving men by years in almost every society, they actually need a heftier retirement savings than men.
So how can women bridge this gap? The first step is making it a priority, and then it really is just a matter of getting started, and the earlier the better.
Ellevest, founded by Wall Street veteran Sallie Krawcheck, is making it its mission to get women over the hurdle and starting to invest. Proudly pro-women, this robo-advising tool factors women specifically into its investment strategy, taking things into account like the fact that women generally earn a lower amount over their lifetime than men and that they have a longer lifespan.
Ellevest’s not just in the business of helping women save for retirement, it also wants to help women save for all of their life goals including buying a house and starting a family. Here’s the best part: Ellevest Digital doesn’t require a minimum investment to get going, meaning there is no excuse not to get started now.
16. M1 Finance (Bonus) – Completely Free Investment Portfolio Management
When it comes to investing, finding the best way to manage your portfolio can be tough. Some investing platforms and financial advisers may charge too much for their services, while others may not offer all of the services you want. Well, look no further, M1 Finance has everything you need for easy and efficient portfolio management, and you’ll get it all for free.
You can start your investment journey with M1 Finance by putting down as little or as much as you want thanks to its fractional shares feature (these are less than whole shares, making them cheaper to buy). Build your portfolio yourself from the platforms selection of 6,000 stocks and exchange-traded funds (ETFs) or you can choose from more than 80 professionally premade portfolios. You can even combine the two options to get the best of both worlds.
M1 Finance provides dynamic portfolio rebalancing to keep your portfolio healthy and in line with your investment goals and risk tolerance. Trades are made automatically every time you deposit money (which you can set a schedule for) or withdraw money from your account, make edits to your portfolio or place orders to sell securities in your portfolio.
M1 Finance does all of this for you for free. This is rare so take advantage.
That’s no deposit minimum, no commission fees, no platform fees, plus free portfolio management! We don’t know about you but that sounds like a steal to us.
Start investing at your own pace with M1 Finance and build your wealth without having to sacrifice it to fees.
Feature Image: Twenty20