Hello, my name is Blanca, I have never invested and now, with everything that is happening, I would like to understand how can I invest with the lease losses. I read about an app that you invest $10 or more and the group will manage your money. I can’t find the name of the app or group…can you help me? Thanks!!!
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I don’t know much about investing, but just want to say welcome!
Hello Blanca, my name is Bob, I am not up to date on those investing apps., I use TDAmeritrade to do my investing. I have been investing for over 25 years. What I do understand about those apps, is yes you invest like $10 or more at a time and you get a small fraction of a share in a company, at that rate, it’ll take a thousand years to see anything worthwhile, plus there will be fees with the service.
Open up a ROTH I.R.A. with any major online brokerage. There won’t be any fees. Just look up ROTH I.R.A. online and read anything about it you find, then re-read it, because you won’t understand everything the first time, yes it is boring. Online major companies, TDAmeritrade, ETrade, Schwab, Fidelity, etc.
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hello and welcome
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Welcome to the community Blanca! I have quite a bit of experience with many different investing apps. It sounds like you may be referring to a robo-adviser app that basically you put your money in and it gets invested for you? There are so many investment apps out there it can be hard to determine which is best for you. Feel free to message me if I can be of any help in you finding one that will work for you.
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Great advice. I’d also recommend an APP called Acorn. They invest your spare change, and round it up with just your regular spending. I’ve been doing it for about 7 years and have developed a nice emergency fund. Some banks may offer this as well. You should start by asking your bank if they offer this.
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I use Acorns too, and I like it. I have an investment account, a Roth IRA, and 2 college accounts for my niece and nephew.
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