The Best Investment Apps for Beginners in 2021 | **NOT ROBINHOOD**

In this video, I will be going over the best investment apps for beginners in 2021.

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In my eyes, Acorn is one of, if not the best investment app for beginners.

Not sure what or even how to identify the best investments? No worries, Acorn uses a "Robo Advisor" feature that automatically invests your funds for you based on a series of questions you've answered.

It also has a "round-up" feature that allows its users to start investing with as little as $0.01. The round-up method, linked through your debit card or bank, takes everyday purchases, rounds it up to the nearest amount you select (most commonly used is a dollar), then uses the difference from the purchase to invest.

Additionally, Acorn allows its users to establish recurring investments. Simply select a dollar amount and frequency (daily, weekly, or monthly), and Acorn will deposit the funds and allocate them accordingly.

Although not many, this platform does have its negatives, such as monthly fees. Depending on your level of comfort and needs, Acorn offers multiple monthly plans starting at $1 for a "lite" plan and ranges up to a $5 "family" plan.

While this platform may not be best suited for an experienced investor - there may not be a better place to start for beginners.

Moving On Up
M1 Finance app is next up on our list. Here is where things start to get a little more advanced as this app is much more hands-on and offers many more features than Acorn does, and even allows one to take loans against a portion of their account value.
Unlike Acorn, M1 Finance offers both a paid (M1 Plus) and free plan. However, the latter is very similar to Acorn's basic plan.

M1 Plus, the paid-for subscription, is $125 per year (currently running the first year free promotion). This comes with perks such as lower rates on borrowing terms, investing benefits such as access to custodial accounts, and bonuses when it comes to using the debit card like 1% cash back on purchases, reimbursed international fees, and more.
As mentioned, M1 Finance does have a debit card feature that is available to both free and paid-for subscriptions. The account boasts a 1% annual return which is impressive considering it's better than what most banks offer.

One of the primary features of M1 Finance is their use of "pies." A "pie" is another name for a portfolio or a group of investment vehicles that make up your account. A portfolio may consist of stocks, mutual funds, bonds, and other assets.
M1 Finance allows you to choose the assets of your choice along with the share of the total portfolio you'd like for them to make up for.

You can choose up to 100 securities or "Slices of the pie" to invest in.
Although a bit more advanced than Acorn, M1 Finance is by no means a platform for day / short-term traders. In fact, once a trade is placed, it is not automatically executed. M1 Finance only processes transactions during certain times of the day. There is also a $100 account minimum to meet before you can officially get started.

Again, this is more of an ongoing and gradual investment strategy; however, unlike Acorn, you have much more control of your investments and financial trajectory.
Best investment App for 2021

Although there are many factors to take into consideration here, overall, I chose SoFi as the top platform for those a bit more experienced when it comes to investing.

Unlike M1 Finance, there is no account minimum with SoFi. Unlike the previous platforms mentioned, SoFi is much more than just a regular investment app. SoFi covers everything from small personal investment accounts to loans under their SoFi "Borrow," which covers private student loans, personal loans, auto loan refinancing, credit cards, insurance, and more.
SoFi offers excellent perks like free access to your very own Certified Financial Planner or CFP, an educational platform, instant access to cash deposits of up to $1k for the free membership or $50k with the paid one.

Fractional investing is supported on SoFi along with the purchase of popular cryptocurrencies like Bitcoin and Ethereum. They also have dedicated easy to use tools that allow you to search across different industries and trends.

Wrapping It Up
With so many different investment apps out there, it's essential to try different ones to see which one personally works the best for you.

Whether it's just for the investment news feeds or becoming more familiar with the different charts and layouts, signing up for your first account is one of the best ways to get started investing.
After all, one of the most important aspects of investing is taking action

Видео The Best Investment Apps for Beginners in 2021 | **NOT ROBINHOOD** канала Jack Hoskins