We all hear about stocks. For most of us we focus on the stock market crashes that happen every so often. What we don’t pay attention to is all the years that the stock market hasn’t crashed. So I say that to say don’t let fear stop you. I always wanted to get into stocks, but I was scared. I didn’t know much about it and I would look the other way. However, one day I logged on to Facebook and Dr. Boyce Watkins was doing a live. I didn’t catch everything just the tail end of it and he was saying if you want to learn about stocks download these 3 apps.
Acorns: I like Acorns because you don’t have to do anything. You link it to your debit card and as you make purchases it rounds up. Meaning if you spent $4.92 it will add $0.08 to your Acorns account. They don’t withdraw the money until they rounded up $5. So, they will withdraw in $5 increments. They will invest the money for you.
Stash: With stash you are buying into EFTs. The best way I can explain it is they are kind of like mutual funds. Where you buy a group of stocks at a time and you profit off the collective group. The main difference is that you can trade an EFT like a common stock. Mutual Funds you tend to have to hold on to them a little longer. So, you can find an EFT with some high-end stocks and sit back.
Robinhood: With this app it’s a little more complex. You are buying individual stocks. The risk is higher but so is the reward. You can lose it all or you can win. If you like to control exactly what stocks are in your portfolio and have time to really pay attention to them then this is for you. Me personally I like this app the most because I can find specific companies and invest.
At the time of me writing this it doesn’t cost anything to sign up for any of these apps. So really you don’t have an excuse. Lets get to it.
During the first period of a man's life the greatest danger is not to take the risk.