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Best online app to passively invest in the market?
Posted on 11/29/18 at 12:20 pm
Posted on 11/29/18 at 12:20 pm
Full disclosure, I know nothing about investing in stocks. My portfolio includes rental properties, an IRA, and a 401k through work.
I looked into Acorn briefly, but it's my understanding that it takes your change and invests it into an IRA account. I have already maxed out my $18,500 between my IRA and 401k.
So my only other option would be to directly invest in the stock market correct, whether individual or index?
Any suggestions on an easy app to invest small amounts of money, that I can just forget about?
I looked into Acorn briefly, but it's my understanding that it takes your change and invests it into an IRA account. I have already maxed out my $18,500 between my IRA and 401k.
So my only other option would be to directly invest in the stock market correct, whether individual or index?
Any suggestions on an easy app to invest small amounts of money, that I can just forget about?
2
Posted on 11/29/18 at 12:24 pm to AUGDawg
I guess I'm shilling again, but below is the my last shill when this question was asked:
I'm becoming a shill for this app, but M1 Finance is a great one that's free. It's like Robinhood, but trades are made once a day (so not as ideal for a quick trade), but the advantages are:
1. Create and customize "pies" and portfolios of various ETFs and stocks.
2. Set automatic investments (minimum of $10 per trade) in those pies and portfolios and the investments are made to maintain one's target allocation.
3. Buy fractional shares instead of having one's cash sit until being able to purchase a full unit while being able to more easily maintain one's target allocation.
4. Provides a bunch of different pre-designed "pies" based on one's investments goals and risk-tolerance.
5. Provides a line of credit to borrow. It's essentially a margin account, although one has to have at least $25,000 in a taxable account and can only borrow up to 35% of one's account. HOWEVER, the rate is much lower than margin accounts as it's currently at 4%, and that's after the recent interest rate increase.
I'm becoming a shill for this app, but M1 Finance is a great one that's free. It's like Robinhood, but trades are made once a day (so not as ideal for a quick trade), but the advantages are:
1. Create and customize "pies" and portfolios of various ETFs and stocks.
2. Set automatic investments (minimum of $10 per trade) in those pies and portfolios and the investments are made to maintain one's target allocation.
3. Buy fractional shares instead of having one's cash sit until being able to purchase a full unit while being able to more easily maintain one's target allocation.
4. Provides a bunch of different pre-designed "pies" based on one's investments goals and risk-tolerance.
5. Provides a line of credit to borrow. It's essentially a margin account, although one has to have at least $25,000 in a taxable account and can only borrow up to 35% of one's account. HOWEVER, the rate is much lower than margin accounts as it's currently at 4%, and that's after the recent interest rate increase.
Posted on 11/29/18 at 1:50 pm to AUGDawg
Acorn has two different options, Acorn Core and Acorn Later. Acorn Later allows you to open up an IRA. From my understanding, Acorn Core is passive investing but not an IRA account
Posted on 11/30/18 at 9:56 am to buckeye_vol
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