I never thought investing was for me (as I wasn't a rich, white man) until I learned a friend had been investing for some time. Seeing someone like me doing this thing that seemed so foreign completely change my perspective and made investing much less intimidating.
Along my journey I’ve experimented with lots of different platforms as today's technology makes investing way more accessible to the average Jane or Juana. Below I outline the ones I like the most. Whether you are looking to open an IRA or a non retirement, taxable account, you'll find what you need below. Here’s how I invest. The Starter Account (Acorns) Why Acorns? I choose Acorns as my entryway into investing. Its super easy to get started as there are no account minimums. However Acorns’ best feature is its simplicity–it helps you get started investing and build the habit of saving at the same time. Here’s how it works: You link your credit cards and Acorns rounds up each of your purchases, depositing the extra change into an investment account aligned with your risk level. For example, you buy a coffee for $4.85, Acorns puts .15 cents into your investing account. The excuse that you don’t have the money to invest is eliminated, as Acorns helps you invest with your spare change. You also have the option to make additional and reoccurring deposits to help your balance grow faster. The extra beauty is Acorns does all the work of managing and balancing your account. Sign up here: https://share.acorns.com/lexfinances Get $5 to start with my referral link.
The Free Trader (Robinhood)
Why Robinhood? If low cost is important, Robinhood is for you. All trades are free which means you keep more of your investment. Robinhood also offers lots of information in-app to guide educated decisions. A bonus of using Robinhood is the ability to buy partial shares. This makes expensive stocks like Apple and Netflix more accessible to the average person.
Here’s how it works: It is a mobile only trading platform. You buy and sell individual stocks and all trades are FREE, including Bitcoin. From within the app you can read current news in addition to articles and more information about each stock. You’ll need to do more of your own research when choosing investments but you won’t lose money in trading fees.
Sign up here: http://share.robinhood.com/alexish1
The Financial Feminist (Ellevest)
Why Ellevest? Are you all about financial feminism? Ellevest was founded by a woman, maintains 50/50 staff ratio and constantly calls out other financial firms for not having enough diversity at the c-suite level. They've also got a great branding/media strategy and provide financial education.
Here's how it works: Ellevest is a robo advisor. Once you complete an initial assessment to determine your risk profile and goals, Ellevest will take care of the rest. Be sure to subscribe to the newsletter!
Sign up here: Use my link to get three months free at Ellevest https://ellevest.com/referral/evtogether Downloading the app? Enter code EVTOGETHER at checkout.
The Real Estate Mogul (Fundrise)
Why Fundrise? Fundrise is for the investor looking to add the previously unattainable world of private market real estate to their portfolio. It's a great option for diversifying your portfolio by investing outside the public stock market.
Here's how it works: Fundrise actively identifies, acquires and improves commercial real estate on your behalf. A type of investment previously only taken advantage of by institutional investors. As you can only make withdrawals once a quarter, this is not recommended for short term investors.
$500 minimum investment
Sign up here: https://fundrise.com/r/87pvy Using my referral link, gives you 3 months of free advisory fees.
The Free Trader Too (M1 Finance)
WHY M1? The best part of using M1 is free trades. Not having to pay a fee per trade saves you a lot on your returns in the long run. Unlike Robinhood, M1 is available on desktop and mobile - giving you greater flexibility. M1 also offers automated management of your portfolio.
Here's how it works: Create an account, choose your investment goals and fund your account. Decide whether you'd like to make a reoccurring contribution and/or reinvest your dividends.
Sign up here: https://m1.finance/e1jRYost18s5 Get $100 to when you fund your account using my referral link.
More questions? Ask here: letstalk8120@gmail.com or schedule a complimentary consult
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