There are so many different available options for investing today, though don’t let this seemingly endless array of investments overwhelm you. If you prefer a simplified approach to investing geared towards relatively straightforward goals such as passive wealth accumulation and/or saving for retirement, then Stash Invest could be just what you’re looking for.
Stash Invest launched its first app in 2015 with the goal of simplifying the investment process so even folks with just $5 to invest could try it out. Oftentimes people who feel like they’re broke avoid getting into the investment game because they mistakenly believe they don’t have enough money to invest. Among the many myths surrounding investing nowadays, the notion that you need to have at least $1,000 ready to go and a human stockbroker to manage your portfolio are the biggest myths that prevent people from investing in their futures.
How to Invest with Stash Invest
If you’ve been looking for a low-cost, low-risk way to dip your toes into the world of investments, then an SEC-registered investment adviser like Stash might be what you’ve been waiting for:
What Is Stash?
The main idea on Stash’s homepage is: “Stash is investing, simplified.” Stash emphasizes mixed portfolios of ETFs that you can customize for your age, lifestyle (e.g., personal values and political beliefs), and investment goals. For instance, environmentally conscious investors can opt to invest in green-friendly companies and ETFs, tech-savvy beginning investors can choose from an array of top-notch tech funds, and social media superstars may choose to invest in publicly traded social platforms that they know a lot about.
Stash is also planning on rolling out retirement investment accounts in the near future, so you’ll be able to start planning for your golden years even if you don’t have a huge amount of money to invest with right now.
Stash Invest has an entire section on its website dedicated to informative resources ranging from lengthy explanatory articles about investing to quick tips to help you learn more about different types of investments.
One cool feature of Stash’s website that you’ll notice as you browse through their webpages is that some words are underlined and by hovering your arrow over them, a definition automatically appears on your computer screen. This demonstrates just how far Stash is willing to go to simplify every step of the investment process for folks who may have no experience or knowledge in these complicated subjects!
How Much Does Stash Cost?
Stash only charges $1 per month to manage accounts with less than $5,000 deposited, or 0.25% annual management fees on accounts with more than $5,000 (which equates to roughly $12.50 per year for an account with $5,000 deposited). You can set up auto-deposits on your investment accounts directly linked to your bank accounts to ensure you’re regularly adding to your balance and growing a nest egg for the future.
There are no hidden fees involved. After all, Stash is all about simplicity in investing. So, $1 per month isn’t much compared to the more expensive alternatives!
Get Started with Stash
To get started with Stash Invest, all you need is $5 and 2 minutes. You’ll first be asked for your name and a new password for your account, along with which device you’re using (iOS or Android). On the following page, you’ll be asked for your first and last name, as well as your birthdate. The next page will ask you what your investment style is conservative, moderate, aggressive – along with useful descriptions of each to help you decide which one suits your needs the most.
You’ll also be asked for your employment status (and where you work, if you have a job currently), as well as your current income, the value of things you own (subtracting your debts from the gross amount), how long you plan on investing for, and other personal details such as your citizenship status (to keep records of your earnings for U.S. tax laws). Towards the end, you’ll be asked for your Social Security number on a secured webpage (DigiCert EV SSL secure).
If you’ve been hesitant about investing or think you don’t have enough money to get started, then Stash Invest would be great for helping you overcome your reservations with minimal risk involved. There is no “right time” to start investing, so stop waiting and start making your money work for you by investing it with Stash for as little as $1 per month.