Investing is one of the best ways to grow your wealth effectively over time. Unfortunately, many Americans aren’t taking advantage of this, as only slightly above half of the population is investing. Many don’t feel like they have enough to warrant investing, or they don’t understand how to start.
Thankfully, there are many ways to invest your money, no matter how much you have. A good way to get started in investing, or to be able to invest on the go, is to utilize an investment app. However, it is a crowded market and how do you know which apps to use?
The Best Investment Apps to Grow Wealth
With that in mind, let’s go over a few of the best investment apps that can help you grow your wealth. Whether you are new to investing or simply looking for a better way, these apps can help you out.
Since coming to the USA a few years ago, Wealthsimple has become one of the most popular apps in the investment space. It is a smart, user-friendly and simple platform to invest with low fees. It is essentially a robo-advisor that lets you invest in customized and innovative portfolios to ensure your financial goals are being met.
Not only is Wealthsimple popular in the USA, but it is also one of the Best Investment Apps in Canada. It boasts over a million users and is offered in the UK as well. The app also gives you access to expert financial advice. Another great thing about Wealthsimple is its dedication to security. They use 2FA, as well as state of the art security measures and encryption to keep your money and information safe.
In addition to many people not investing money, many Americans aren’t great at saving money either. Thankfully, Acorns offers the best of both worlds, as it can help you save and passively invest, automatically. Acorns is an app that rounds up your credit and debit purchases to the nearest dollar. The leftover change is then saved and invested in a portfolio of ETFs, all without you having to do a thing.
There are several different investment options available automatically, which saves you a lot of time on research. The app also allows you to set up deposits, see how much you have saved over time and includes many other features as well. You won’t even notice most of these roundups, but will surely notice how much more you are able to save over time.
Robinhood is empowering anyone and everyone to enter into the stock market and start growing their wealth. The way they do this is by offering completely free trades. Now, many apps will offer low-fee trades, but Robinhood is different as they charge zero commission. Other features offered by Robinhood include fractional investing, cryptocurrency investing and the ability to customize your portfolio.
It is a simple and clean online brokerage, that is quick to sign up for and access. Because they exist online and don’t have to worry about physical staff or offices, they can afford to operate without high fees. If you’d like longer trading hours or other extras like margin accounts, there is also a paid version of the app you can utilize.
If you are relatively new to the space, or just want to learn a little more, Stash might be the right choice for you. It is a low-cost way to build a portfolio, and offers a welcoming user experience and design throughout the app. It is designed with beginners in mind, as it educates you on investing as you go. The app can help you learn your risk aversion and decide on some goals, and then the app will make some helpful suggestions.
While the content of the app might not be as detailed or deep as others, it can certainly help the average person learn more about investing. Funding your account is simple and you have the choice of various options when it comes to investing your money.
In conclusion, these four apps are sure to help you manage your investments and grow your wealth going forward. Of course, these are far from the only apps available, but they are among the best and most helpful.