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You’ve decided that you want to get started investing in the stock market. At a minimum, it’s piqued your interest. You’ve likely heard a lot of stories about how people make a fortune with the stock market, and are wondering how you could make some money that way, too.
Getting started with buying and selling stock assets is remarkably easy. With the advancement of mobile apps, and now most brokers offering $0 commission on stock trades, access for retail investors has increased tremendously, even as recently as the last 5 years. With fractional shares, you can even invest as little as $1 into a large corporation, like Amazon, that otherwise would cost thousands of dollars to buy a single share.
Here are some resources that can help make it easy for you to get started investing in the stock market, ranging from research, to apps that can help you incrementally add to your portfolio.
With Acorns, you can round up your change from your everyday purchases to go into an investment account. From there, investing experts have diversified portfolios available for you to invest in, depending on your goals. Over time, you can watch your spare change turn into an investment that multiplies in value. The goal with Acorns is to incrementally add funds to your investment account, and watch it grow as it gains with the market. Plus, they’re currently offering a $10 bonus when you sign-up.
One of the best things you can do as a new investor is follow the advice and guidance of seasoned pros. The team at Motley Fool has provided stock market research and guidance for decades, and has a long track record of success. I subscribe to their Stock Advisor program, and it has provided me with several stock picks that I would not have otherwise known about, and have watched my portfolio grow as a result. Of course, everyone’s personal experience will vary, but having a team of investing pros to give you stock picks sure helps the success rate.
Accounts on Stash include unlimited trades with no commission, and you are able to invest in fractional shares. This allows someone to buy stock in companies like Amazon or Tesla, without having to put thousands of dollars toward one stock. Instead, if you have $50 to invest, and you want it to go toward Amazon, you can invest $50 worth into a portion of a share, and your investment will perform in relation to that stock.
What also sets Stash apart is they also have personalized investment advice available. Even if you want to DIY your stock purchases, having an advisor available can be invaluable, and help you see other perspectives, or provide guidance you otherwise might not consider. As a bonus, they’re offering an additional $5 for opening an account with a minimum $5 balance.
It doesn’t get much easier to invest than automatic. Plus, you get a chance of receiving up to $1,000 for downloading SoFi’s app. Automatic investing options, plus free money is definitely a win-win for new investors. Even for those that have some experience, SoFi has a lot of flexibility in investment options, ranging from fractional shares, to crypto.