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Stash App
Posted on 11/7/17 at 9:22 am
Posted on 11/7/17 at 9:22 am
What is the Money Board's gurus thoughts on Stash App?
6
Posted on 11/7/17 at 9:50 am to ThatsAFactJack
quote:
What is the Money Board's gurus thoughts on Stash App?
This is the first time I have heard of it.
So I guess my initial thought, is what is it?
Posted on 11/7/17 at 11:32 am to ThatsAFactJack
Is this the one where you take a pic of your mustache and it tells you the best trimming techniques to make it cool?
Posted on 11/7/17 at 11:45 am to ThatsAFactJack
It’s got high fees and you can’t really choose how you want to invest. It’s cool as a novelty but I would use it as an actual investment option.
Posted on 11/8/17 at 12:47 am to nugget
Stash charges $1 per month for accounts under 5k. And I think .25% for accounts over that.
Posted on 11/8/17 at 11:56 pm to ThatsAFactJack
Get Robinhood instead.
Posted on 11/9/17 at 12:29 am to JamalSanders
Care to give us a review?
Posted on 11/9/17 at 1:02 am to LesThanPrefect
Of Robinhood? Sure
The basic principle is you deposit money into the app and then you have access to buying and selling any stock on the NYSE. Trades are free. There is no day trading allowed for accounts over I think $10k. It has limit buys and sells. Have not seen shorts, options, or puts in the app but for the guy just looking to play a little and get a feel for the stock market it is a high quality platform. All dividends are paid in cash. I haven't figured out a way to roll those back into stock automatically. Have to buy a whole share and not fractional shares.
My biggest gripe, if you can even call it that, is that it takes about a week for money to become available for use. For instance, I have an auto deposit from my checking account every Monday. The funds come out of my checking account on Monday and are not available for use on the platform till Thursday or Friday. When you sell stock the money has a similar wait before it it withdrawalable.
A few months ago they rolled out a Robinhood Gold that has more features but I think cost money. The regular that I use is free. I get all tax documents sent to my house from the various companies I own in February for my tax purposes.
I'm not the best at reviews but that is the jist of it. I have a $10 a week drip into the app right now and make plays as I see fit with the money I have available in the app. This isn't my retirement, I treat it as a game and an opportunity to learn more about the stock market.
They also have a refer a friend and both parties get some free stock. I've never done it before but I can send you a link if you are interested.
The basic principle is you deposit money into the app and then you have access to buying and selling any stock on the NYSE. Trades are free. There is no day trading allowed for accounts over I think $10k. It has limit buys and sells. Have not seen shorts, options, or puts in the app but for the guy just looking to play a little and get a feel for the stock market it is a high quality platform. All dividends are paid in cash. I haven't figured out a way to roll those back into stock automatically. Have to buy a whole share and not fractional shares.
My biggest gripe, if you can even call it that, is that it takes about a week for money to become available for use. For instance, I have an auto deposit from my checking account every Monday. The funds come out of my checking account on Monday and are not available for use on the platform till Thursday or Friday. When you sell stock the money has a similar wait before it it withdrawalable.
A few months ago they rolled out a Robinhood Gold that has more features but I think cost money. The regular that I use is free. I get all tax documents sent to my house from the various companies I own in February for my tax purposes.
I'm not the best at reviews but that is the jist of it. I have a $10 a week drip into the app right now and make plays as I see fit with the money I have available in the app. This isn't my retirement, I treat it as a game and an opportunity to learn more about the stock market.
They also have a refer a friend and both parties get some free stock. I've never done it before but I can send you a link if you are interested.
Posted on 11/9/17 at 9:08 am to JamalSanders
quote:
JamalSanders
quote:
They also have a refer a friend and both parties get some free stock. I've never done it before but I can send you a link if you are interested.
Thanks
This post was edited on 11/9/17 at 1:22 pm
Posted on 11/9/17 at 10:34 am to JamalSanders
quote:
My biggest gripe, if you can even call it that, is that it takes about a week for money to become available for use. For instance, I have an auto deposit from my checking account every Monday. The funds come out of my checking account on Monday and are not available for use on the platform till Thursday or Friday. When you sell stock the money has a similar wait before it it withdrawalable.
I don't think this is the case anymore. I get mine deposited on the first of the month and it is available immediately. I don't have anything more than the "base" membership (not Gold).
Posted on 11/9/17 at 11:13 am to yellowhammer2098
It didn't take mine long at all to deposit.
Posted on 11/9/17 at 11:21 am to ThatsAFactJack
Stash is a good app for young people who don't want to take the time to learn about investing. It gives ETFs a catchy name that really basically explains them. For example Schwab US Dividend Equity ETF is titled "Delicious Dividends."
I put money into it when I first started investing. I've gotten decent returns from it. Pretty good returns when you consider it takes zero effort.
They also send emails that will teach you stuff, so it's designed for people just starting out.
I put money into it when I first started investing. I've gotten decent returns from it. Pretty good returns when you consider it takes zero effort.
They also send emails that will teach you stuff, so it's designed for people just starting out.
Posted on 11/9/17 at 12:39 pm to ThatsAFactJack
Ygm.
Posted on 11/9/17 at 12:43 pm to ThatsAFactJack
I've been using it for over a year....
It is a dollar a month so not bad, I a certain amount a month and then decide how I want to use it. I have money in at least 15 of their options and I put my dividends back into my stocks
It is a dollar a month so not bad, I a certain amount a month and then decide how I want to use it. I have money in at least 15 of their options and I put my dividends back into my stocks
This post was edited on 11/9/17 at 12:45 pm
Posted on 11/9/17 at 2:37 pm to ThatsAFactJack
So I got one share of ZNGA out of it. $3.90 worth.
Not much but better than nothing.
Not much but better than nothing.
Posted on 11/9/17 at 4:54 pm to tduecen
What kind of returns are you seeing?
Posted on 11/9/17 at 5:01 pm to LesThanPrefect
I usually make about 20-30 in dividends a month that I put back into it... obviously it goes up each month since I add more money each month. Everything that I have money in has risen with the highest up 24% since I invested in it originally.
Posted on 11/9/17 at 6:07 pm to tduecen
How much would you suggest as an initial investment?
Posted on 11/9/17 at 6:20 pm to LesThanPrefect
I did 500, then put 100 into 5 different categories they had... your first 3 months are free, no fee and they give you 5 dollars to start. So essentially it is 8 months free
Overall my investments on stash are up 26.11% and I've made 412 dollars according to them.
Not bad to put money into and forget about it but I also have a capital one and Ally account I invest from.
Overall my investments on stash are up 26.11% and I've made 412 dollars according to them.
Not bad to put money into and forget about it but I also have a capital one and Ally account I invest from.
This post was edited on 11/10/17 at 6:25 am
Posted on 11/10/17 at 8:50 am to JamalSanders
quote:
JamalSanders
quote:
So I got one share of ZNGA out of it. $3.90 worth.
I got one share of SIRI out of it. $5.32 at the time
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