Appsolutely: Swipe, Invest
Who knew that when Tinder started with the “Swipe” action from your potential bae or lay (keeping it real) that it would become the Grandfather of how the Swipe function would spread over to other apps. The power of the Swipe allows for the ‘Swiper no swiping’ to now hold value in not only content, but the coint!
Most people are introduced to investment through their employer-driven 401K and are often left clueless on the holders or even how it works. Potentially leaving thousands on the table due to lack of knowledge or even knowing the resources that are available. My dad introduced me to investing through his 401K and what his network would pour into him. Through asking questions and being nosey, he becomes a solid investor in his own right.
Often time investments are handled through brokerages or wirehouses of bill names and account holdings. They would charge you service fees and “see’’ fees, just for them to attempt to tell you what they felt was best for your wealth curation. Then that transferred over to the big box banks, charging a couple dollars for you to holla at them to hold your funds. Each share your purchase came at a price. I don’t know about you, but I want to trade without trading my wallet just to play.
Though my DMs, Texts + @s, I get a few of you asking what are the differences through these 3rd party apps! I get it, just like Tinder having a multitude of choices to pick from - the same is happening for investment apps.
Intention to Mention: 3rd Party Investment apps were built to take the confusion ish out of investment and bring the ease of investing into the palm of your hand. Just like other apps, they were built to make your life and swipes easy. Most are low cost or free compared to most brokerages.
While there are over a couple hundred of investment apps on both Android and iTunes, here are some of my favorites to use and/or recommend:
Robinhood: This app is slowly starting to become a personal favorite. The reason why I like this app is due to the fact that you have access to some of the indie apps ( like Cannabis-based apps and crypto), but the ting that I enjoy the most is that it is free! Yes, Beloved, Free.99! The app constantly adds different holdings (companies) to their platform every month! They even have a newsletter that keeps you hip to how stocks are preforming. Plus, you can invite your friends, fam and foes to join and you both snatch up free stock! How dope is that?
Acorns: Playing off of the cliche of storing acorns for the winter, this app takes your spare change and makes it rain in investments + savings! Take your most used a debit or credit card and link it to the app and they will “round up” your transactions to the next dollar and invest the “spare change” you would have received had you paid in cash. Acorns invests your funds automatically in one of five professionally managed ETF portfolios! Oh, For college students (or those with access to their college e-mail), you can use Acorns for free for up to four years from the date of registration. Invest and go!
Stash: This app is like the Rosetta Stone for investing! It takes you by the hand and leads you on to investment land (10 pts if you can guess that song reference, think - the elements). Anywhoo - Stash gives you customized educational content aligned with your investment preferences. Then you can set up an “Auto-Stash” plan for recurring investments or add funds when you choose. Trading minimum is $5, but there aren’t any fees! They offer retirement planning and cash back! They are trying to be the Amazon of finance and investing!
Titan: This app is seeking to bring a hedge-fund like appeal to 3rd party apps! Hedge-Funds are like one big all crowdfund for investors. Unlike those types of funds, with this app - you do not have to be an accredited investor to join. This app strides to provide high-quality, high-performing stocks to users. The objective of Titan Invest is not just to match the S&P 500, but to outperform it over the long-term. Pretty straight forward. The thing that is tricky with this app is that investors can only jump into the pre-selected group the app believes to be 20 high quality, top-performing companies. This app isn’t for those new to investing due to the terminology and $500 minimum fee to get started. Yes, it’s costly, Beloved. IRAs and joint accounts are expected to be available soon.
Stockpile: If you have been in my tribe for a while, you know how I feel about this app! Why I stan for this app is due to the budget friendly option that it offers. Say you want to take a bit into the Apple, but don’t have enough in your budget to purchase a share. Stockpile allows you to buy fractional shares into select funds. While some investment and finance folks disagree with fractional shares, this allows folks access into slowly builds their wealth! Everyone budget and savings don’t allow for them to snatch up Amazon at a moments notice. There are no monthly fees and all trades are 99 cents. Another dope thing that I love about this app is that it allows you to set up custodial accounts for your kids!
Clink: This app gives me the feel of Acorns but focused on Vanguard facing ETFs (Exchange Traded Funds). This app is adjusted on how aggressive you are with investing (tolerance level). You can schedule a certain percentage of your purchase to be added to your account after transactions. There’s no minimum investment amount and a $1 monthly fee.
*I know you like “FREE”, so I linked some of these options with free shares for you signing up! Peep the hyper-links throughout this post!
My recommendation would be for you to try out each of these apps (within your budget) and invest $5-10 to gain insight into how they work. Pick which app works for your lifestyle and investment goals. I use multiple ones to help advise my tribe on what works well and because I like diversification! shrugs
New Service Alert! If you have any questions on the apps or how to make them work for you, grab some time on my calendar to chat! It is one thing to set up an app, but it is another thing to make that app work for you! Diamond from Players Club