The Top 5 Investing Apps To Help Newbies, Experts And Couples Build Their Wealth From Anywhere

Who's this for? Acorns is a financial app that gives you access to a robo-advisor, IRAs and even a checking account. It made our list because it's a good choice for novice investors looking to start small through micro-investing.

Micro-investing simply means you're investing small amounts of money in the market consistently so that over time your contributions add up. It's a good strategy for newbies who want to dip their toe into the investing pool before diving all in.

Acorns allows users to micro-invest using the Acorns' Round-Ups® feature, which takes users' spare change and puts it into diversified ETFs. Users link their credit or debit card account to their Acorns account, and the app will do a sweep of the accounts when purchases are made to round up the costs to the nearest dollar and then invest the difference.

The spare change collected from your linked cards are set aside until you hit a $5 threshold, at which point is then transferred into your Acorns Invest account. According to Acorns' website, the average user invests more than $30 per month through the Round-Ups feature.

You can also set up a recurring transfer (daily, weekly or monthly) from your linked bank account to your Acorns investment accounts starting at as little as $5 a month.

The Acorns Invests account is a robo-advisor, which suggests managed portfolios (made up of various ETFs) based on an investor's risk level. Investors cannot buy or sell individual stocks through Acorns.

Acorns offers two plans:

  1. Personal plan for $3 per month: The Personal plan includes a checking account, investment account and retirement account.

  2. Family plan for $5 per month: The Family plan includes the three accounts that you get with the Personal plan, plus additional investment accounts for your kids.

While the Acorns Round-Ups feature is a great way to get started investing, it's important to make sure you're putting away enough each month to justify the fees. At $3 a month, the fee can quickly eat up a big chunk of your returns if you're only investing a few bucks a month.

Acorn's app is available to download for free in both the App Store (for iOS), where it has 4.7/5 stars, and on Google Play (for Android), where is has 4.3/5 stars at the time this article was written.

Disclosure: NBCUniversal and Comcast are investors in Acorns.

Source : https://www.cnbc.com/select/best-investing-apps/

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The top 5 investing apps to help newbies, experts and couples build their wealth from anywhere

Source:CNBC

The top 5 investing apps to help newbies, experts and couples build their wealth from anywhere

Wealth building for millennials: It’s not too late to start

Source:CNBC

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