Apps are making easier for many people to start investing. In fact, investing money is essential in creating wealth and providing you security for the future. There are many ways to invest your money in the market from online discount brokerage accounts to robo-advisor platforms.
Increasingly, a number of apps have sprouted to help people skittish about investing get their feet went. Stash is for beginners who want to learn how to invest in small dollar amounts. It’s a good app to get you comfortable with the idea of investing and learning the jargon. This is where Stash shines–their educational content is easy to understand and delivered timely.
What is Stash Invest?
Stash offers investing and savings app to users. The Stash Invest app allows you to start investing with as little as $5 with an easy to use platform and theme-based investment options. It’s investing and an educational resource rolled into a useful app. Stash offers 30 different themed investments from which investors can choose risk tolerance and personal preferences. The Stash app allows investors to buy additional investments, diversify, and monitor the progress of those investments.
Stash Invest is best for beginners or those needing more investment guidance.
How does Stash Invest work?
Stash doesn’t manage investor accounts but helps guide investors through the process of building an ETF portfolio. The Stash service has a $5 minimum investment and charges $1 a month for account balances under $5,000 and a 0.25% annual fee for accounts with $5,000 or more.
Stash Invest offers you investment recommendations, but you do the investing. Learn as you go but get the assistance through the app advisory service.
After opening an account, you complete a questionnaire that will help Stash determine your risk tolerance. Stash will then present you a list of investment options from which you choose. Stash provides personal guidance to help you, but you can decide to invest in what you believe is important to you.
- Auto-Stash – Easily add to your portfolio and set up recurring transfers.
- Education and investment guidance – Stash help beginners learn how to invest and that’s what it does best. If the app determines your portfolio lacks diversification, it will provide educational content to help you make a decision.
- Thematic and mission-driven portfolios – Stash does things differently and instead of having you invest by choosing a stock symbol, you choose themed investments. You choose in three areas “I Believe. I Want. I Like.” This helps make investing relatable and affordable. For instance, if you like “Things that Glitter” it will recommend investments in Gold or if you choose in Clean & Green, it will recommend stocks in solar.
What are the fees?
- $1 per month for account balances under $5,000 (Currently offering the first month free). This fee is taken from your linked checking account and not your Stash account.
- 0.25% of your account balance on accounts over $5,000 (for example, $12.50/year for $5,000 account balance).
There are no commissions or trading fees, but other fees may apply. For instance, an NSF (nonsufficient fund) for an automatic transfer may lead to $30 fee.
Get Started with Stash
With Stash Invest, there is a $5 minimum balance requirement.
- Download the Stash app and open an account with $5.
- Connect a checking account
- Answer questions about yourself and your interests
- Use the app and start learning about investing
My Smile Summary: Should you use Stash Invest?
Stash Invest helps you invest based on your interest, values, and risk tolerance with as little as $5. Stash is a very good investing app for the beginner investor or for those who like more guidance and enjoy theme-based investing. You can diversify your portfolio holdings with a small amount of money which is a great advantage for the small investor.
The app is very helpful in educating investors. Stash may be the app you need to get the knowledge and assistance to manage your own portfolio. Start using Stash Invest.