Are you eager to start investing and saving money for the future? Have you always wanted to jump into the stock market but don’t know where to start? Look no further, because we’re going to dive into the easiest, and quickest possible way to start investing right now!
Investing can be scary, and very overwhelming when you’re first getting started. Something to remember though, is that historically the stock marked as a whole (in the United States) has always gone up long term. Meaning, if you’re willing to be patient and stay in the market during dips (VERY DIFFICULT TO DO) you’re statistically likely to make money on your investment. So historically the best time to buy in is right now.
But instead of trying to pick and choose the best stocks, getting overwhelmed, paralyzed by fear, and never investing at all (what most people do), we’re going to look at the easiest and simplest way to start investing right now. We believe that way is through “Round-Up Apps” and investing platforms. These automated investing platforms do all the hard work for you. You input your “investing style” and risk tolerances, and then they go to work investing small amounts of your money on a regular basis! They “round up” your purchases to the nearest dollar, and invest that relatively small change amount into a fund for you. It may not sound like a lot of money now, but it definitely can add up quickly and pay dividends long term.
The reason we love this strategy so much for beginners is because the platform takes a lot of the guesswork and stress out of investing. Instead it works behind the scenes, without you even thinking, and makes sure you invest regularly. That’s the key, it’s better to invest regularly than to not invest at all. As a beginner, this is the perfect place to start. Open an account with Acorns, Chime, or Qapital and just start today. Start with small amounts and watch how quickly your money can grow. We encourage this strategy because the platform will mitigate your risk by diversifying for you, help you get past the frustration of buying and researching individual stocks, and in the end will help you start investing faster and more consistently.
Here’s our picks for the top “Round-Up” or assisted investing platforms (mostly apps):
Acorns – The most popular and original round up app. Works great and is easy to use!
Chime – Links to your bank account and saves the extra money you don’t notice.
Qapital – A more visual platform that allows you to set goals. Like a new car or Italian vacation!
Digit – Proven, very simple, and easy platform that was launched in 2015. Solid choice
Long Game – A more fun way to save and invest (Is FDIC insured). Based the platform on gaming and making it fun to invest!
If you get nothing else from this post hear this, your money sitting in a savings account is losing money on inflation. Don’t wait any longer, prioritize your financial future, and take baby steps to start building wealth right now. The faster you start, the more you’ll grow (a little secret called compounding interest). See you on the other side. Cheers
